Abbott Laboratories (NYSE:ABT) Shares Purchased by Revolve Wealth Partners LLC

Revolve Wealth Partners LLC grew its stake in shares of Abbott Laboratories (NYSE:ABT) by 6.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,956 shares of the healthcare product maker’s stock after buying an additional 116 shares during the quarter. Revolve Wealth Partners LLC’s holdings in Abbott Laboratories were worth $222,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Key Client Fiduciary Advisors LLC raised its position in shares of Abbott Laboratories by 5.5% during the 1st quarter. Key Client Fiduciary Advisors LLC now owns 8,755 shares of the healthcare product maker’s stock worth $995,000 after buying an additional 456 shares in the last quarter. GoalVest Advisory LLC raised its position in shares of Abbott Laboratories by 387.7% during the 1st quarter. GoalVest Advisory LLC now owns 3,263 shares of the healthcare product maker’s stock worth $371,000 after buying an additional 2,594 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new stake in Abbott Laboratories during the first quarter valued at approximately $39,000. RMR Wealth Builders lifted its stake in Abbott Laboratories by 9.4% during the first quarter. RMR Wealth Builders now owns 17,411 shares of the healthcare product maker’s stock valued at $1,979,000 after purchasing an additional 1,499 shares during the last quarter. Finally, Sound Income Strategies LLC lifted its stake in Abbott Laboratories by 57.5% during the first quarter. Sound Income Strategies LLC now owns 3,276 shares of the healthcare product maker’s stock valued at $372,000 after purchasing an additional 1,196 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $104.65 on Friday. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $121.64. The firm’s fifty day simple moving average is $104.87 and its 200 day simple moving average is $110.13. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $182.05 billion, a PE ratio of 32.60, a PEG ratio of 2.54 and a beta of 0.74.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. The business had revenue of $9.96 billion for the quarter, compared to analyst estimates of $9.88 billion. During the same period last year, the business posted $1.03 EPS. Abbott Laboratories’s revenue was up 2.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Abbott Laboratories will post 4.62 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend is Monday, July 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Analyst Upgrades and Downgrades

ABT has been the subject of several recent research reports. Barclays cut their target price on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a research note on Monday, April 22nd. Royal Bank of Canada restated an “outperform” rating and issued a $125.00 price target on shares of Abbott Laboratories in a research report on Tuesday, June 4th. Evercore ISI upped their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Raymond James restated a “buy” rating and set a $124.00 price target on shares of Abbott Laboratories in a research note on Wednesday, April 24th. Finally, The Goldman Sachs Group assumed coverage on shares of Abbott Laboratories in a research note on Thursday, May 30th. They set a “buy” rating and a $121.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $120.64.

Insider Buying and Selling at Abbott Laboratories

In other news, EVP Jr. Robert E. Funck sold 10,097 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $104.57, for a total transaction of $1,055,843.29. Following the completion of the transaction, the executive vice president now directly owns 211,341 shares of the company’s stock, valued at approximately $22,099,928.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Lisa D. Earnhardt sold 22,852 shares of Abbott Laboratories stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the completion of the transaction, the executive vice president now directly owns 61,462 shares of the company’s stock, valued at approximately $6,530,337.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jr. Robert E. Funck sold 10,097 shares of Abbott Laboratories stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $104.57, for a total transaction of $1,055,843.29. Following the transaction, the executive vice president now directly owns 211,341 shares of the company’s stock, valued at $22,099,928.37. The disclosure for this sale can be found here. Insiders own 1.10% 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.