Wolff Wiese Magana LLC Acquires 3,396 Shares of Abbott Laboratories (NYSE:ABT)

Wolff Wiese Magana LLC raised its holdings in shares of Abbott Laboratories (NYSE:ABTGet Rating) by 24.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,243 shares of the healthcare product maker’s stock after acquiring an additional 3,396 shares during the quarter. Abbott Laboratories makes up about 1.4% of Wolff Wiese Magana LLC’s investment portfolio, making the stock its 16th biggest position. Wolff Wiese Magana LLC’s holdings in Abbott Laboratories were worth $1,873,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of ABT. Bourgeon Capital Management LLC purchased a new position in shares of Abbott Laboratories during the first quarter valued at about $30,000. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of Abbott Laboratories during the first quarter valued at about $30,000. Dravo Bay LLC purchased a new position in shares of Abbott Laboratories during the first quarter valued at about $32,000. Delos Wealth Advisors LLC grew its position in shares of Abbott Laboratories by 100.9% during the fourth quarter. Delos Wealth Advisors LLC now owns 231 shares of the healthcare product maker’s stock valued at $33,000 after purchasing an additional 116 shares in the last quarter. Finally, Holloway Wealth Management LLC grew its position in shares of Abbott Laboratories by 175.0% during the first quarter. Holloway Wealth Management LLC now owns 275 shares of the healthcare product maker’s stock valued at $33,000 after purchasing an additional 175 shares in the last quarter. 73.03% of the stock is owned by institutional investors.

Abbott Laboratories Price Performance

ABT traded down $1.28 on Friday, reaching $99.79. The company had a trading volume of 380,266 shares, compared to its average volume of 4,955,861. Abbott Laboratories has a one year low of $99.85 and a one year high of $142.60. The company has a current ratio of 2.01, a quick ratio of 1.54 and a debt-to-equity ratio of 0.46. The company has a fifty day moving average of $107.10 and a 200-day moving average of $111.67. The company has a market capitalization of $174.75 billion, a P/E ratio of 21.10, a PEG ratio of 3.73 and a beta of 0.72.

Abbott Laboratories (NYSE:ABTGet Rating) last posted its quarterly earnings results on Wednesday, July 20th. The healthcare product maker reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.34. Abbott Laboratories had a net margin of 18.78% and a return on equity of 29.38%. The business had revenue of $11.26 billion during the quarter, compared to analyst estimates of $10.37 billion. During the same period in the prior year, the firm earned $1.17 earnings per share. The firm’s revenue was up 10.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Abbott Laboratories will post 4.99 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th will be paid a dividend of $0.47 per share. The ex-dividend date is Thursday, October 13th. This represents a $1.88 dividend on an annualized basis and a yield of 1.88%. Abbott Laboratories’s dividend payout ratio is currently 39.25%.

Insider Buying and Selling at Abbott Laboratories

In related news, CEO Robert B. Ford sold 102,425 shares of Abbott Laboratories stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $105.10, for a total value of $10,764,867.50. Following the completion of the sale, the chief executive officer now directly owns 142,071 shares in the company, valued at $14,931,662.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Robert B. Ford sold 102,425 shares of the business’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $105.10, for a total value of $10,764,867.50. Following the completion of the transaction, the chief executive officer now directly owns 142,071 shares in the company, valued at approximately $14,931,662.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joseph J. Manning sold 26,898 shares of the business’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $105.03, for a total value of $2,825,096.94. Following the completion of the sale, the executive vice president now owns 53,245 shares in the company, valued at approximately $5,592,322.35. The disclosure for this sale can be found here. Over the last three months, insiders sold 204,788 shares of company stock valued at $21,776,756. 0.52% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently commented on ABT shares. Morgan Stanley dropped their price target on Abbott Laboratories from $134.00 to $132.00 and set an “overweight” rating for the company in a research report on Thursday, July 21st. Cowen decreased their price target on shares of Abbott Laboratories from $150.00 to $130.00 in a research note on Wednesday, July 13th. Erste Group Bank downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Thursday, August 25th. Citigroup reduced their price objective on shares of Abbott Laboratories from $125.00 to $123.00 and set a “buy” rating for the company in a research note on Thursday, July 21st. Finally, StockNews.com raised shares of Abbott Laboratories from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $132.46.

About Abbott Laboratories

(Get Rating)

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 Established Pharmaceutical Products segment 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.

See Also

Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.