1,620 Shares in Abbott Laboratories (NYSE:ABT) Acquired by Total Wealth Planning & Management Inc.

Total Wealth Planning & Management Inc. bought a new stake in shares of Abbott Laboratories (NYSE:ABT) in the first quarter, HoldingsChannel reports. The institutional investor bought 1,620 shares of the healthcare product maker’s stock, valued at approximately $215,000.

Several other hedge funds have also made changes to their positions in ABT. Nadler Financial Group Inc. raised its holdings in shares of Abbott Laboratories by 9.8% in the first quarter. Nadler Financial Group Inc. now owns 10,011 shares of the healthcare product maker’s stock valued at $1,328,000 after acquiring an additional 891 shares in the last quarter. DLK Investment Management LLC increased its position in Abbott Laboratories by 2.3% during the 1st quarter. DLK Investment Management LLC now owns 50,345 shares of the healthcare product maker’s stock valued at $6,678,000 after purchasing an additional 1,122 shares during the period. Balefire LLC raised its holdings in shares of Abbott Laboratories by 4.2% in the 1st quarter. Balefire LLC now owns 3,539 shares of the healthcare product maker’s stock valued at $470,000 after purchasing an additional 143 shares in the last quarter. KPP Advisory Services LLC lifted its position in shares of Abbott Laboratories by 1,324.2% in the 1st quarter. KPP Advisory Services LLC now owns 125,462 shares of the healthcare product maker’s stock worth $16,643,000 after purchasing an additional 116,653 shares during the period. Finally, Madrona Financial Services LLC bought a new position in shares of Abbott Laboratories during the first quarter valued at approximately $209,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ABT shares. Raymond James Financial upped their target price on Abbott Laboratories from $132.00 to $142.00 and gave the stock an “outperform” rating in a report on Thursday, April 17th. Jefferies Financial Group boosted their price target on Abbott Laboratories from $135.00 to $137.00 and gave the stock a “hold” rating in a research report on Thursday, April 17th. Bank of America raised their price objective on Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Leerink Partnrs upgraded shares of Abbott Laboratories to a “hold” rating in a report on Monday, June 16th. Finally, Royal Bank Of Canada raised their price target on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” rating in a report on Thursday, April 17th. Six investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus target price of $142.61.

Abbott Laboratories Trading Down 2.7%

NYSE:ABT opened at $133.73 on Friday. The company has a market capitalization of $232.67 billion, a P/E ratio of 17.34, a PEG ratio of 2.61 and a beta of 0.73. The company has a current ratio of 1.78, a quick ratio of 1.27 and a debt-to-equity ratio of 0.26. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $141.23. The firm has a fifty day simple moving average of $132.75 and a 200-day simple moving average of $127.43.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. The company had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.38 billion. Abbott Laboratories had a return on equity of 19.01% and a net margin of 31.89%. On average, equities research analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be issued a $0.59 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $2.36 annualized dividend and a yield of 1.76%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 30.61%.

Insiders Place Their Bets

In other Abbott Laboratories 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 sale, the director now directly 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 Securities & Exchange Commission, which can be accessed through this link. 0.46% of the stock is currently owned by insiders.

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.