Falcon Wealth Planning Has $292,000 Stock Position in Abbott Laboratories (NYSE:ABT)

Falcon Wealth Planning boosted its position in shares of Abbott Laboratories (NYSE:ABT) by 21.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,199 shares of the healthcare product maker’s stock after purchasing an additional 384 shares during the quarter. Falcon Wealth Planning’s holdings in Abbott Laboratories were worth $292,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Redwood Park Advisors LLC bought a new position in Abbott Laboratories in the fourth quarter valued at approximately $25,000. Noble Wealth Management PBC acquired a new position in shares of Abbott Laboratories in the 4th quarter valued at $26,000. NewSquare Capital LLC boosted its position in shares of Abbott Laboratories by 78.4% in the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock worth $27,000 after purchasing an additional 105 shares during the last quarter. WealthTrak Capital Management LLC acquired a new stake in shares of Abbott Laboratories during the fourth quarter worth $28,000. Finally, Rialto Wealth Management LLC bought a new stake in Abbott Laboratories in the fourth quarter valued at about $29,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ABT has been the topic of a number of recent analyst reports. Royal Bank Of Canada raised their target price on Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, April 17th. Stifel Nicolaus lifted their price objective on shares of Abbott Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, April 17th. The Goldman Sachs Group upped their target price on shares of Abbott Laboratories from $138.00 to $154.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Leerink Partners initiated coverage on shares of Abbott Laboratories in a research report on Monday, June 16th. They set a “market perform” rating and a $143.00 price target on the stock. Finally, Citigroup upped 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. Six investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $142.61.

Insider Activity

In related news, Director Sally E. Blount sold 2,600 shares of the stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total transaction of $337,116.00. Following the completion of the transaction, the director now directly 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.46% of the stock is owned by corporate insiders.

Abbott Laboratories Stock Down 2.7%

NYSE:ABT opened at $133.73 on Friday. The company has a market cap of $232.67 billion, a PE ratio of 17.34, a PEG ratio of 2.61 and a beta of 0.73. The stock has a 50-day simple moving average of $132.75 and a 200 day simple moving average of $127.43. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.27 and a current ratio of 1.78. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $141.23.

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

Abbott Laboratories Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.76%. Abbott Laboratories’s dividend payout ratio is 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.