Abbott Laboratories (NYSE:ABT) Shares Purchased by Jaffetilchin Investment Partners LLC

Jaffetilchin Investment Partners LLC grew its holdings in Abbott Laboratories (NYSE:ABT) by 7.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,170 shares of the healthcare product maker’s stock after acquiring an additional 153 shares during the period. Jaffetilchin Investment Partners LLC’s holdings in Abbott Laboratories were worth $247,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ABT. Alliance Wealth Advisors LLC UT lifted its stake in shares of Abbott Laboratories by 0.4% in the 4th quarter. Alliance Wealth Advisors LLC UT now owns 25,085 shares of the healthcare product maker’s stock worth $2,761,000 after acquiring an additional 92 shares during the period. Rappaport Reiches Capital Management LLC increased its position in shares of Abbott Laboratories by 0.8% during the 4th quarter. Rappaport Reiches Capital Management LLC now owns 12,287 shares of the healthcare product maker’s stock valued at $1,352,000 after purchasing an additional 94 shares during the period. Avion Wealth raised its stake in shares of Abbott Laboratories by 19.4% in the 4th quarter. Avion Wealth now owns 591 shares of the healthcare product maker’s stock worth $65,000 after buying an additional 96 shares in the last quarter. Wynn Capital LLC lifted its holdings in shares of Abbott Laboratories by 2.9% in the first quarter. Wynn Capital LLC now owns 3,427 shares of the healthcare product maker’s stock valued at $390,000 after buying an additional 98 shares during the period. Finally, Berger Financial Group Inc grew its holdings in Abbott Laboratories by 3.0% during the fourth quarter. Berger Financial Group Inc now owns 3,423 shares of the healthcare product maker’s stock worth $377,000 after acquiring an additional 99 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Transactions at Abbott Laboratories

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

Wall Street Analyst Weigh In

A number of analysts have commented on ABT shares. Citigroup reduced their price objective on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Raymond James reiterated a “buy” rating and set a $124.00 price objective on shares of Abbott Laboratories in a research report on Wednesday, April 24th. The Goldman Sachs Group started coverage on Abbott Laboratories in a report on Thursday, May 30th. They issued a “buy” rating and a $121.00 target price for the company. Edward Jones downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Royal Bank of Canada restated an “outperform” rating and set a $125.00 price objective on shares of Abbott Laboratories in a research report on Tuesday, June 4th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $121.00.

Abbott Laboratories Stock Performance

ABT stock traded down $0.02 during midday trading on Friday, hitting $110.13. 4,713,173 shares of the company traded hands, compared to its average volume of 6,016,372. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64. The stock has a market capitalization of $191.59 billion, a price-to-earnings ratio of 34.17, a price-to-earnings-growth ratio of 2.64 and a beta of 0.72. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The business has a 50 day simple moving average of $104.07 and a 200-day simple moving average of $109.08.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. The firm had revenue of $10.38 billion during the quarter, compared to analyst estimates of $10.37 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.32%. The business’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.08 EPS. As a group, equities research analysts predict that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Monday, July 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 68.54%.

Abbott Laboratories Company 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.