4,137 Shares in Abbott Laboratories (NYSE:ABT) Acquired by Petros Family Wealth LLC

Petros Family Wealth LLC bought a new position in Abbott Laboratories (NYSE:ABT) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 4,137 shares of the healthcare product maker’s stock, valued at approximately $549,000.

A number of other hedge funds also recently bought and sold shares of the company. Redwood Park Advisors LLC purchased a new stake in shares of Abbott Laboratories during the fourth quarter valued at approximately $25,000. Noble Wealth Management PBC purchased a new stake in shares of Abbott Laboratories during the fourth quarter valued at approximately $26,000. NewSquare Capital LLC boosted its stake in shares of Abbott Laboratories by 78.4% during the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock valued at $27,000 after purchasing an additional 105 shares during the period. WealthTrak Capital Management LLC purchased a new stake in shares of Abbott Laboratories during the fourth quarter valued at approximately $28,000. Finally, Rialto Wealth Management LLC purchased a new stake in shares of Abbott Laboratories during the fourth quarter valued at approximately $29,000. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Trading Up 0.2%

Abbott Laboratories stock opened at $133.26 on Tuesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.78 and a quick ratio of 1.27. Abbott Laboratories has a one year low of $99.71 and a one year high of $141.23. The stock has a market capitalization of $231.85 billion, a PE ratio of 17.28, a price-to-earnings-growth ratio of 2.53 and a beta of 0.73. The business’s fifty day moving average is $132.30 and its 200 day moving average is $127.16.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, beating the consensus estimate of $1.07 by $0.02. The company had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.38 billion. Abbott Laboratories had a return on equity of 19.01% and a net margin of 31.89%. On average, sell-side analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently announced 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 of this dividend is Tuesday, July 15th. This represents a $2.36 annualized dividend and a yield of 1.77%. Abbott Laboratories’s payout ratio is 30.61%.

Insiders Place Their Bets

In other news, Director Sally E. Blount sold 2,600 shares of the firm’s stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total value of $337,116.00. Following the transaction, the director now owns 34,058 shares of the company’s stock, valued at $4,415,960.28. This trade represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ABT shares. Bank of America upped their target price on Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a report on Monday, March 10th. Piper Sandler restated an “overweight” rating and set a $145.00 target price (up previously from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. Leerink Partners started coverage on Abbott Laboratories in a report on Monday, June 16th. They set a “market perform” rating and a $143.00 target price for the company. Raymond James Financial upped their target price on Abbott Laboratories from $132.00 to $142.00 and gave the company an “outperform” rating in a report on Thursday, April 17th. Finally, The Goldman Sachs Group upped their target price on Abbott Laboratories from $138.00 to $154.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Six equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $142.61.

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.