Abbott Laboratories (NYSE:ABT) Shares Acquired by OneAscent Financial Services LLC

OneAscent Financial Services LLC increased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 10.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,398 shares of the healthcare product maker’s stock after buying an additional 400 shares during the quarter. OneAscent Financial Services LLC’s holdings in Abbott Laboratories were worth $500,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Signature Resources Capital Management LLC purchased a new position in Abbott Laboratories in the fourth quarter valued at about $29,000. Richardson Financial Services Inc. purchased a new position in Abbott Laboratories in the fourth quarter valued at about $29,000. Transcendent Capital Group LLC purchased a new position in Abbott Laboratories in the fourth quarter valued at about $29,000. True Wealth Design LLC grew its stake in Abbott Laboratories by 1,677.8% in the fourth quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock valued at $35,000 after purchasing an additional 302 shares in the last quarter. Finally, Stuart Chaussee & Associates Inc. grew its stake in Abbott Laboratories by 236.0% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 336 shares of the healthcare product maker’s stock valued at $37,000 after purchasing an additional 236 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insider Buying and Selling

In related news, EVP Lisa D. Earnhardt sold 22,852 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the sale, the executive vice president now directly owns 61,462 shares in the company, valued at approximately $6,530,337.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Lisa D. Earnhardt sold 22,852 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the sale, the executive vice president now directly owns 61,462 shares in the company, valued at approximately $6,530,337.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jr. Robert E. Funck sold 10,097 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $104.57, for a total value of $1,055,843.29. Following the sale, the executive vice president now owns 211,341 shares in the company, valued at $22,099,928.37. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

Abbott Laboratories Trading Down 0.7 %

ABT stock opened at $103.91 on Friday. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64. The firm has a market cap of $180.76 billion, a P/E ratio of 32.37, a P/E/G ratio of 2.52 and a beta of 0.74. The business’s 50 day moving average is $104.79 and its 200-day moving average is $110.10. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.32.

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

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $2.20 annualized dividend and a dividend yield of 2.12%. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Royal Bank of Canada reissued an “outperform” rating and set a $125.00 price objective on shares of Abbott Laboratories in a research report on Tuesday, June 4th. Evercore ISI boosted their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Citigroup lowered their price target on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. Barclays lowered their price target on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a research note on Monday, April 22nd. Finally, The Goldman Sachs Group started coverage on 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 analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and an average target price of $120.64.

Abbott Laboratories 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.