DecisionMap Wealth Management LLC Takes $215,000 Position in Abbott Laboratories (NYSE:ABT)

DecisionMap Wealth Management LLC bought a new stake in shares of Abbott Laboratories (NYSE:ABT) during the first quarter, HoldingsChannel reports. The firm bought 1,624 shares of the healthcare product maker’s stock, valued at approximately $215,000.

A number of other hedge funds also recently bought and sold shares of ABT. Cim LLC boosted its stake in Abbott Laboratories by 0.4% in the 4th quarter. Cim LLC now owns 16,967 shares of the healthcare product maker’s stock worth $1,919,000 after purchasing an additional 73 shares in the last quarter. Cape Investment Advisory Inc. boosted its stake in Abbott Laboratories by 6.6% in the 4th quarter. Cape Investment Advisory Inc. now owns 1,236 shares of the healthcare product maker’s stock worth $140,000 after purchasing an additional 76 shares in the last quarter. Capital Square LLC boosted its stake in Abbott Laboratories by 2.7% in the 4th quarter. Capital Square LLC now owns 2,941 shares of the healthcare product maker’s stock worth $368,000 after purchasing an additional 77 shares in the last quarter. Consilium Wealth Advisory LLC boosted its stake in Abbott Laboratories by 2.1% in the 1st quarter. Consilium Wealth Advisory LLC now owns 3,822 shares of the healthcare product maker’s stock worth $507,000 after purchasing an additional 78 shares in the last quarter. Finally, Cyrus J. Lawrence LLC boosted its stake in Abbott Laboratories by 9.0% in the 4th quarter. Cyrus J. Lawrence LLC now owns 954 shares of the healthcare product maker’s stock worth $107,000 after purchasing an additional 79 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ABT. Morgan Stanley upped their price target on shares of Abbott Laboratories from $117.00 to $127.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 17th. Barclays boosted their target price on Abbott Laboratories from $158.00 to $159.00 and gave the stock an “overweight” rating in a research report on Thursday, April 17th. Piper Sandler reiterated an “overweight” rating and issued a $145.00 price target (up from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. Leerink Partners started coverage on shares of Abbott Laboratories in a report on Monday. They set a “market perform” rating and a $143.00 price objective for the company. Finally, Citigroup boosted their price objective on shares of Abbott Laboratories from $135.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Six research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $142.61.

Insiders Place Their Bets

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the company’s stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total value of $337,116.00. Following the completion of the transaction, the director now directly owns 34,058 shares in the company, valued at $4,415,960.28. This represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.46% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of NYSE ABT opened at $132.35 on Friday. The firm has a 50 day moving average of $132.07 and a 200 day moving average of $126.76. The company has a current ratio of 1.78, a quick ratio of 1.27 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $230.27 billion, a price-to-earnings ratio of 17.17, a price-to-earnings-growth ratio of 2.51 and a beta of 0.73. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $141.23.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.02. The company had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.38 billion. Abbott Laboratories had a net margin of 31.89% and a return on equity of 19.01%. On average, research analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be given a $0.59 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.78%. Abbott Laboratories’s payout ratio is currently 30.61%.

Abbott Laboratories Company Profile

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière’s disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.