Falcon Wealth Planning Purchases 384 Shares of Abbott Laboratories (NYSE:ABT)

Falcon Wealth Planning grew its holdings in Abbott Laboratories (NYSE:ABT) by 21.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,199 shares of the healthcare product maker’s stock after purchasing an additional 384 shares during the quarter. Falcon Wealth Planning’s holdings in Abbott Laboratories were worth $292,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in ABT. LaFleur & Godfrey LLC increased its position in Abbott Laboratories by 23.5% in the 4th quarter. LaFleur & Godfrey LLC now owns 82,443 shares of the healthcare product maker’s stock worth $9,325,000 after buying an additional 15,692 shares during the period. Brighton Jones LLC increased its position in Abbott Laboratories by 10.1% during the fourth quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker’s stock worth $5,850,000 after acquiring an additional 4,755 shares during the period. Bank Pictet & Cie Europe AG raised its stake in 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 valued at $17,274,000 after purchasing an additional 2,774 shares during the last quarter. Whipplewood Advisors LLC bought a new stake in Abbott Laboratories in the 4th quarter valued at $66,000. Finally, Cable Hill Partners LLC grew its position in Abbott Laboratories by 14.2% in the 4th quarter. Cable Hill Partners LLC now owns 11,073 shares of the healthcare product maker’s stock worth $1,252,000 after purchasing an additional 1,375 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors.

Insider Transactions at Abbott Laboratories

In other news, Director Sally E. Blount sold 2,600 shares of the company’s stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total transaction of $337,116.00. Following the transaction, the director now directly owns 34,058 shares in the company, valued at approximately $4,415,960.28. This represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.46% of the company’s stock.

Abbott Laboratories Trading Down 2.7%

Shares of Abbott Laboratories stock opened at $133.73 on Friday. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $141.23. The stock has a market capitalization of $232.67 billion, a P/E ratio of 17.34, a price-to-earnings-growth ratio of 2.61 and a beta of 0.73. The company has a 50-day simple moving average of $132.75 and a 200 day simple moving average of $127.43. The company has a quick ratio of 1.27, a current ratio of 1.78 and a debt-to-equity ratio of 0.26.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.02. The company had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.38 billion. Abbott Laboratories had a net margin of 31.89% and a return on equity of 19.01%. Research analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend is Tuesday, July 15th. Abbott Laboratories’s dividend payout ratio is currently 30.61%.

Analyst Ratings Changes

A number of brokerages have recently commented on ABT. Morgan Stanley upped their price objective on shares of Abbott Laboratories from $117.00 to $127.00 and gave the company an “equal weight” rating in a research report on Thursday, April 17th. Piper Sandler reaffirmed 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. Wells Fargo & Company lifted their price objective on Abbott Laboratories from $136.00 to $147.00 and gave the stock an “overweight” rating in a report on Thursday, April 17th. Bank of America upped 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. Finally, Leerink Partnrs upgraded shares of Abbott Laboratories to a “hold” rating in a research note on Monday, June 16th. Six research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $142.61.

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.