Abbott Laboratories (NYSE:ABT) Shares Acquired by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC increased its stake in shares of Abbott Laboratories (NYSE:ABT) by 28.1% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 55,031 shares of the healthcare product maker’s stock after acquiring an additional 12,068 shares during the period. Icon Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $6,255,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Industrial Alliance Investment Management Inc. lifted its position in shares of Abbott Laboratories by 2.7% during the first quarter. Industrial Alliance Investment Management Inc. now owns 4,543 shares of the healthcare product maker’s stock worth $516,000 after purchasing an additional 120 shares in the last quarter. Kennedy Capital Management LLC acquired a new position in Abbott Laboratories in the 1st quarter worth $2,506,000. Waverly Advisors LLC boosted its position in Abbott Laboratories by 312.6% in the 1st quarter. Waverly Advisors LLC now owns 76,730 shares of the healthcare product maker’s stock valued at $8,721,000 after buying an additional 58,132 shares during the last quarter. Kinloch Capital LLC increased its position in shares of Abbott Laboratories by 6.3% during the first quarter. Kinloch Capital LLC now owns 22,850 shares of the healthcare product maker’s stock worth $2,597,000 after acquiring an additional 1,354 shares during the last quarter. Finally, Captrust Financial Advisors lifted its stake in shares of Abbott Laboratories by 2.9% in the first quarter. Captrust Financial Advisors now owns 454,334 shares of the healthcare product maker’s stock worth $51,640,000 after acquiring an additional 12,847 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Evercore ISI lowered their price objective on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Citigroup dropped their price target on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Raymond James reiterated a “buy” rating and set a $124.00 price objective on shares of Abbott Laboratories in a research note on Wednesday, April 24th. The Goldman Sachs Group assumed coverage on shares of Abbott Laboratories in a research report on Thursday, May 30th. They issued a “buy” rating and a $121.00 target price for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $125.00 price target on shares of Abbott Laboratories in a research report on Tuesday, June 4th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $121.00.

Insiders Place Their Bets

In other news, EVP Lisa D. Earnhardt sold 22,852 shares of the business’s 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 completion of the transaction, the executive vice president now directly owns 61,462 shares in the company, valued at $6,530,337.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Abbott Laboratories news, EVP Lisa D. Earnhardt sold 22,852 shares of Abbott Laboratories stock in a transaction 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 owns 61,462 shares of the company’s stock, valued at approximately $6,530,337.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jr. Robert E. Funck sold 10,097 shares of the stock in a transaction 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 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 disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

Abbott Laboratories Stock Performance

ABT stock traded up $0.54 during midday trading on Tuesday, reaching $105.31. The company had a trading volume of 9,126,094 shares, compared to its average volume of 5,986,718. The firm has a market capitalization of $183.20 billion, a PE ratio of 32.81, a P/E/G ratio of 2.62 and a beta of 0.72. The stock has a 50 day moving average price of $103.93 and a 200 day moving average price of $109.10. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. Abbott Laboratories had a return on equity of 20.32% and a net margin of 13.65%. The business had revenue of $10.38 billion during the quarter, compared to analyst estimates of $10.37 billion. During the same quarter in the previous year, the firm posted $1.08 EPS. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. Analysts anticipate that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Monday, July 15th. Abbott Laboratories’s payout ratio is 68.54%.

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.