Insigneo Advisory Services LLC Acquires 1,213 Shares of Abbott Laboratories (NYSE:ABT)

Insigneo Advisory Services LLC increased its holdings in Abbott Laboratories (NYSE:ABT) by 9.8% during the 1st quarter, HoldingsChannel.com reports. The firm owned 13,649 shares of the healthcare product maker’s stock after purchasing an additional 1,213 shares during the period. Insigneo Advisory Services LLC’s holdings in Abbott Laboratories were worth $1,811,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Redwood Park Advisors LLC bought a new stake in shares of Abbott Laboratories in the fourth quarter worth $25,000. Noble Wealth Management PBC bought a new stake in shares of Abbott Laboratories in the fourth quarter worth $26,000. NewSquare Capital LLC grew its stake in shares of Abbott Laboratories by 78.4% in 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 bought a new stake in shares of Abbott Laboratories in the fourth quarter worth $28,000. Finally, Rialto Wealth Management LLC bought a new stake in shares of Abbott Laboratories in the fourth quarter worth $29,000. Institutional investors own 75.18% of the company’s stock.

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 dated 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 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.46% of the stock is currently owned by insiders.

Abbott Laboratories Trading Down 1.2%

ABT opened at $133.99 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $141.23. The firm has a market capitalization of $233.12 billion, a PE ratio of 17.51, a P/E/G ratio of 2.52 and a beta of 0.73. The company’s 50-day moving average is $131.70 and its 200 day moving average is $126.58.

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

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be given 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 payout ratio is 30.61%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ABT. Barclays boosted their target price 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. The Goldman Sachs Group boosted their target price on shares of Abbott Laboratories from $138.00 to $154.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Bank of America boosted their target price on shares of Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a report on Monday, March 10th. Morgan Stanley boosted their target price on shares of Abbott Laboratories from $117.00 to $127.00 and gave the company an “equal weight” rating in a report on Thursday, April 17th. Finally, Royal Bank of Canada boosted their target price 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. Five equities 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $142.61.

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.