Tucker Asset Management LLC Buys 383 Shares of Abbott Laboratories (NYSE:ABT)

Tucker Asset Management LLC grew its stake in shares of Abbott Laboratories (NYSE:ABT) by 16.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,706 shares of the healthcare product maker’s stock after acquiring an additional 383 shares during the period. Tucker Asset Management LLC’s holdings in Abbott Laboratories were worth $298,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Signature Resources Capital Management LLC bought a new stake in shares of Abbott Laboratories in the 4th quarter valued at about $29,000. Transcendent Capital Group LLC purchased a new stake in Abbott Laboratories during the fourth quarter worth $29,000. Richardson Financial Services Inc. bought a new stake in Abbott Laboratories during the 4th quarter valued at $29,000. True Wealth Design LLC increased its holdings in shares of Abbott Laboratories by 1,677.8% in the 4th quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock valued at $35,000 after acquiring an additional 302 shares during the period. Finally, Rise Advisors LLC bought a new position in shares of Abbott Laboratories in the 4th quarter worth $37,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

ABT traded up $0.23 on Friday, reaching $103.68. The stock had a trading volume of 3,683,145 shares, compared to its average volume of 5,678,494. The business’s 50-day moving average price is $105.66 and its two-hundred day moving average price is $110.10. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a 12-month low of $89.67 and a 12-month high of $121.64. The company has a market cap of $180.36 billion, a P/E ratio of 32.30, a price-to-earnings-growth ratio of 2.49 and a beta of 0.74.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.02. The business had revenue of $9.96 billion for the quarter, compared to analyst estimates of $9.88 billion. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.03 earnings per share. Sell-side analysts forecast that Abbott Laboratories will post 4.62 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.12%. Abbott Laboratories’s payout ratio is 68.54%.

Insiders Place Their Bets

In related news, EVP Lisa D. Earnhardt sold 22,852 shares of Abbott Laboratories stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the transaction, the executive vice president now owns 61,462 shares in the company, valued at $6,530,337.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Abbott Laboratories news, EVP Lisa D. Earnhardt sold 22,852 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $106.25, for a total value of $2,428,025.00. Following the transaction, the executive vice president now directly owns 61,462 shares in the company, valued at approximately $6,530,337.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jr. Robert E. Funck sold 10,097 shares of Abbott Laboratories stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $104.57, for a total transaction of $1,055,843.29. Following the sale, the executive vice president now directly owns 211,341 shares in the company, valued at approximately $22,099,928.37. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on ABT. Royal Bank of Canada reiterated an “outperform” rating and set a $125.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Evercore ISI increased their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Barclays dropped their target price on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a research note on Monday, April 22nd. Raymond James reiterated a “buy” rating and issued a $124.00 price target on shares of Abbott Laboratories in a research note on Wednesday, April 24th. Finally, The Goldman Sachs Group began coverage on Abbott Laboratories in a research note on Thursday, May 30th. They set a “buy” rating and a $121.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $120.64.

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.