Perfromance Wealth Partners LLC Increases Stock Position in Abbott Laboratories (NYSE:ABT)

Perfromance Wealth Partners LLC lifted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 42.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,992 shares of the healthcare product maker’s stock after buying an additional 892 shares during the quarter. Perfromance Wealth Partners LLC’s holdings in Abbott Laboratories were worth $397,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ABT. Tallon Kerry Patrick purchased a new stake in shares of Abbott Laboratories in the 4th quarter valued at $200,000. LaFleur & Godfrey LLC boosted its stake in shares of Abbott Laboratories by 23.5% in the 4th quarter. LaFleur & Godfrey LLC now owns 82,443 shares of the healthcare product maker’s stock valued at $9,325,000 after purchasing an additional 15,692 shares in the last quarter. Brighton Jones LLC boosted its stake in shares of Abbott Laboratories by 10.1% in the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker’s stock valued at $5,850,000 after purchasing an additional 4,755 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in shares of Abbott Laboratories in the 4th quarter valued at $29,120,000. Finally, Bank Pictet & Cie Europe AG boosted its stake in shares of Abbott Laboratories by 1.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker’s stock valued at $17,274,000 after purchasing an additional 2,774 shares in the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the company’s stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total value of $337,116.00. Following the sale, the director now owns 34,058 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ABT. 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 research report on Tuesday, March 4th. Wells Fargo & Company upped their price target on Abbott Laboratories from $136.00 to $147.00 and gave the company an “overweight” rating in a research report on Thursday, April 17th. Piper Sandler reaffirmed an “overweight” rating and set a $145.00 price target (up previously from $133.00) on shares of Abbott Laboratories in a research report on Thursday, April 17th. The Goldman Sachs Group upped their price target on Abbott Laboratories from $138.00 to $154.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Finally, Jefferies Financial Group upped their price target on Abbott Laboratories from $135.00 to $137.00 and gave the company a “hold” rating in a research report on Thursday, April 17th. Six analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $142.61.

Abbott Laboratories Stock Up 0.4%

Shares of NYSE:ABT opened at $132.88 on Friday. The business has a 50-day moving average price of $132.19 and a 200 day moving average price of $126.88. 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 company has a market capitalization of $231.20 billion, a price-to-earnings ratio of 17.24, a PEG 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 released its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.02. Abbott Laboratories had a return on equity of 19.01% and a net margin of 31.89%. The company had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.38 billion. Sell-side analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Tuesday, July 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 30.61%.

About Abbott Laboratories

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.