Prestige Wealth Management Group LLC Has $501,000 Position in Abbott Laboratories (NYSE:ABT)

Prestige Wealth Management Group LLC grew its position in Abbott Laboratories (NYSE:ABT) by 8.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,430 shares of the healthcare product maker’s stock after purchasing an additional 347 shares during the period. Prestige Wealth Management Group LLC’s holdings in Abbott Laboratories were worth $501,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Groupama Asset Managment lifted its holdings in Abbott Laboratories by 22.2% during the third quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after acquiring an additional 41,557 shares in the last quarter. Noble Wealth Management PBC bought a new position in shares of Abbott Laboratories during the 4th quarter valued at about $26,000. NewSquare Capital LLC grew 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 valued at $27,000 after purchasing an additional 105 shares during the period. Rialto Wealth Management LLC bought a new stake in Abbott Laboratories during the 4th quarter worth approximately $29,000. Finally, Wingate Wealth Advisors Inc. bought a new position in Abbott Laboratories in the fourth quarter valued at approximately $34,000. 75.18% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 949 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $138.17, for a total transaction of $131,123.33. Following the transaction, the executive vice president now owns 74,381 shares in the company, valued at $10,277,222.77. This trade represents a 1.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Eric Shroff sold 562 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $138.17, for a total value of $77,651.54. Following the sale, the senior vice president now owns 31,970 shares of the company’s stock, valued at approximately $4,417,294.90. The trade was a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 116,449 shares of company stock worth $15,463,316 in the last 90 days. Company insiders own 1.10% of the company’s stock.

Abbott Laboratories Trading Up 0.8 %

Shares of Abbott Laboratories stock opened at $127.31 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The business has a fifty day simple moving average of $128.79 and a two-hundred day simple moving average of $120.04. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23. The company has a market capitalization of $220.79 billion, a price-to-earnings ratio of 16.64, a P/E/G ratio of 2.52 and a beta of 0.70.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.34. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The company had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $11.03 billion. During the same quarter last year, the company posted $1.19 EPS. Abbott Laboratories’s quarterly revenue was up 7.2% compared to the same quarter last year. Research analysts forecast that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a $0.59 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $2.36 annualized dividend and a yield of 1.85%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 30.85%.

Analyst Ratings Changes

A number of brokerages recently commented on ABT. UBS Group raised their price objective on shares of Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Evercore ISI boosted their price target on Abbott Laboratories to $136.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. Argus upgraded Abbott Laboratories to a “strong-buy” rating in a report on Tuesday, January 28th. Royal Bank of Canada restated an “outperform” rating and issued a $135.00 target price on shares of Abbott Laboratories in a research note on Tuesday, January 21st. Finally, Bank of America raised their price target on shares of Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $137.94.

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.