Argonautica Private Wealth Management Inc. Buys 96 Shares of Abbott Laboratories (NYSE:ABT)

Argonautica Private Wealth Management Inc. boosted its holdings in Abbott Laboratories (NYSE:ABT) by 0.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 42,138 shares of the healthcare product maker’s stock after purchasing an additional 96 shares during the quarter. Abbott Laboratories makes up 1.9% of Argonautica Private Wealth Management Inc.’s portfolio, making the stock its 10th biggest holding. Argonautica Private Wealth Management Inc.’s holdings in Abbott Laboratories were worth $5,590,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Redwood Park Advisors LLC bought a new position in Abbott Laboratories during the 4th quarter worth approximately $25,000. Hughes Financial Services LLC purchased a new stake in shares of Abbott Laboratories during the first quarter worth $27,000. WealthTrak Capital Management LLC bought a new position in Abbott Laboratories during the fourth quarter valued at about $28,000. Abound Financial LLC bought a new position in shares of Abbott Laboratories in the first quarter worth about $28,000. Finally, Wormser Freres Gestion acquired a new stake in Abbott Laboratories during the fourth quarter worth about $32,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Up 0.1%

NYSE:ABT opened at $125.80 on Thursday. Abbott Laboratories has a 1 year low of $99.92 and a 1 year high of $141.23. The stock has a market cap of $218.87 billion, a price-to-earnings ratio of 15.76, a PEG ratio of 2.38 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. The stock has a 50-day moving average price of $132.71 and a two-hundred day moving average price of $129.70.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, hitting the consensus estimate of $1.26. Abbott Laboratories had a return on equity of 18.83% and a net margin of 32.43%. The firm had revenue of $11.14 billion for the quarter, compared to the consensus estimate of $11.01 billion. During the same period in the previous year, the business earned $1.14 EPS. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. As a group, equities analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Tuesday, July 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.88%. Abbott Laboratories’s payout ratio is presently 29.57%.

Wall Street Analyst Weigh In

ABT has been the subject of a number of research analyst reports. Leerink Partners initiated coverage on shares of Abbott Laboratories in a research note on Monday, June 16th. They issued a “market perform” rating and a $143.00 target price for the company. Raymond James Financial cut their target price on shares of Abbott Laboratories from $142.00 to $141.00 and set an “outperform” rating for the company in a research note on Friday, July 18th. Barclays increased their price target on shares of Abbott Laboratories from $158.00 to $159.00 and gave the company an “overweight” rating in a report on Thursday, April 17th. BTIG Research lowered their target price on shares of Abbott Laboratories from $148.00 to $145.00 and set a “buy” rating on the stock in a report on Friday, July 18th. Finally, Royal Bank Of Canada raised their target price on shares of Abbott Laboratories from $145.00 to $147.00 and gave the stock an “outperform” rating in a report on Tuesday, July 15th. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.47.

Insider Activity

In related news, Director Sally E. Blount sold 2,600 shares of the business’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 value of $337,116.00. Following the completion of the transaction, the director directly owned 34,058 shares in the company, valued at $4,415,960.28. The trade was a 7.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is owned by insiders.

Abbott Laboratories 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.