Revisor Wealth Management LLC Boosts Stock Position in Abbott Laboratories (NYSE:ABT)

Revisor Wealth Management LLC lifted its position in Abbott Laboratories (NYSE:ABT) by 63.7% in the 1st quarter, HoldingsChannel reports. The firm owned 4,371 shares of the healthcare product maker’s stock after purchasing an additional 1,701 shares during the quarter. Revisor Wealth Management LLC’s holdings in Abbott Laboratories were worth $580,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of ABT. Redwood Park Advisors LLC acquired a new stake in Abbott Laboratories during the 4th quarter valued at approximately $25,000. NewSquare Capital LLC raised its holdings in shares of Abbott Laboratories by 78.4% during the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock worth $27,000 after purchasing an additional 105 shares during the last quarter. WealthTrak Capital Management LLC acquired a new position in Abbott Laboratories during the fourth quarter valued at $28,000. Rialto Wealth Management LLC purchased a new stake in Abbott Laboratories in the fourth quarter valued at $29,000. Finally, Wormser Freres Gestion purchased a new position in shares of Abbott Laboratories during the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the firm’s stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total value of $337,116.00. Following the completion of the sale, the director directly owned 34,058 shares of the company’s stock, valued at $4,415,960.28. This trade represents a 7.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.46% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ABT has been the topic of a number of recent research reports. 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 research note on Thursday, April 17th. Piper Sandler restated an “overweight” rating and issued a $145.00 price objective (up previously from $133.00) on shares of Abbott Laboratories in a research report on Thursday, April 17th. Morgan Stanley raised their price objective on shares of Abbott Laboratories from $117.00 to $127.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 17th. Bank of America increased their price target on shares of Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Finally, Stifel Nicolaus lifted their price objective on shares of Abbott Laboratories from $135.00 to $145.00 and gave the company a “buy” 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $142.61.

Abbott Laboratories Trading Down 1.6%

Shares of Abbott Laboratories stock opened at $134.08 on Thursday. 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 twelve month low of $99.71 and a twelve month high of $141.23. The firm has a market capitalization of $233.28 billion, a PE ratio of 17.39, a P/E/G ratio of 2.59 and a beta of 0.73. The firm’s 50-day moving average price is $133.11 and its 200 day moving average price is $128.01.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.02. Abbott Laboratories had a return on equity of 19.01% and a net margin of 31.89%. The business had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.38 billion. On average, sell-side analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

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

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.