2,220 Shares in Abbott Laboratories (NYSE:ABT) Purchased by Independent Solutions Wealth Management LLC

Independent Solutions Wealth Management LLC bought a new position in Abbott Laboratories (NYSE:ABT) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,220 shares of the healthcare product maker’s stock, valued at approximately $294,000.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in Abbott Laboratories during the 4th quarter valued at approximately $2,373,461,000. T. Rowe Price Investment Management Inc. boosted its position in Abbott Laboratories by 383.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,358,698 shares of the healthcare product maker’s stock valued at $945,453,000 after acquiring an additional 6,628,310 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Abbott Laboratories during the 4th quarter valued at approximately $635,056,000. GAMMA Investing LLC boosted its position in Abbott Laboratories by 15,420.4% during the 1st quarter. GAMMA Investing LLC now owns 5,102,648 shares of the healthcare product maker’s stock valued at $676,866,000 after acquiring an additional 5,069,771 shares in the last quarter. Finally, Capital International Investors boosted its position in Abbott Laboratories by 3.4% during the 4th quarter. Capital International Investors now owns 67,972,953 shares of the healthcare product maker’s stock valued at $7,688,160,000 after acquiring an additional 2,229,026 shares in the last quarter. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $137.46 on Thursday. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $141.23. The firm has a market cap of $239.16 billion, a P/E ratio of 17.83, a PEG ratio of 2.62 and a beta of 0.73. The company has a 50 day moving average of $132.69 and a 200 day moving average of $127.30. The company has a quick ratio of 1.27, a current ratio of 1.78 and a debt-to-equity ratio of 0.26.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. The business 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%. As a group, research analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be paid a dividend of $0.59 per share. The ex-dividend date is Tuesday, July 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.72%. Abbott Laboratories’s dividend payout ratio is presently 30.61%.

Wall Street Analysts Forecast Growth

ABT has been the topic of several research reports. Citigroup lifted their price objective on Abbott Laboratories from $135.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Royal Bank Of Canada lifted their price objective on Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” rating in a research report on Thursday, April 17th. Morgan Stanley lifted their target price on shares of Abbott Laboratories from $117.00 to $127.00 and gave the company an “equal weight” rating in a report on Thursday, April 17th. Stifel Nicolaus lifted their target price on shares of Abbott Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, April 17th. Finally, Bank of America lifted their target price on shares of Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a report on Monday, March 10th. Six equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $142.61.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the business’s stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total transaction of $337,116.00. Following the completion of the sale, the director now directly owns 34,058 shares in the company, valued at approximately $4,415,960.28. The trade was a 7.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.46% of the company’s stock.

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.