Abbott Laboratories (NYSE:ABT) Shares Purchased by Mission Wealth Management LP

Mission Wealth Management LP grew its holdings in shares of Abbott Laboratories (NYSE:ABT) by 38.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,944 shares of the healthcare product maker’s stock after purchasing an additional 9,669 shares during the quarter. Mission Wealth Management LP’s holdings in Abbott Laboratories were worth $4,635,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Three Seasons Wealth LLC acquired a new stake in shares of Abbott Laboratories during the fourth quarter worth about $1,428,000. Kelly Financial Services LLC purchased a new position in shares of Abbott Laboratories during the first quarter worth approximately $216,000. Voleon Capital Management LP purchased a new position in Abbott Laboratories in the 4th quarter valued at $273,000. Bank Julius Baer & Co. Ltd Zurich grew its position in Abbott Laboratories by 5.5% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,095,443 shares of the healthcare product maker’s stock valued at $133,691,000 after buying an additional 57,499 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG boosted its position in shares of Abbott Laboratories by 1.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker’s stock worth $17,274,000 after purchasing an additional 2,774 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Abbott Laboratories stock opened at $135.41 on Monday. Abbott Laboratories has a one year low of $99.71 and a one year high of $141.23. The stock’s fifty day moving average price is $131.50 and its two-hundred day moving average price is $126.47. 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 firm has a market cap of $235.59 billion, a PE ratio of 17.70, a price-to-earnings-growth ratio of 2.52 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, topping the consensus estimate of $1.07 by $0.02. The firm had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.38 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. As a group, research analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.74%. Abbott Laboratories’s payout ratio is 30.61%.

Analyst Ratings Changes

Several equities research analysts recently commented on ABT shares. Citigroup boosted their price objective on shares of Abbott Laboratories from $135.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. The Goldman Sachs Group upped their price objective 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. Morgan Stanley boosted their target price on Abbott Laboratories from $117.00 to $127.00 and gave the stock an “equal weight” rating in a report on Thursday, April 17th. Piper Sandler restated an “overweight” rating and issued a $145.00 price target (up previously from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. Finally, Bank of America increased their target price on Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Four 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $142.59.

Insider Activity at Abbott Laboratories

In other news, Director Sally E. Blount sold 2,600 shares of the company’s stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total value of $337,116.00. Following the transaction, the director now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.46% of the stock is owned by company insiders.

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.