536 Shares in Abbott Laboratories (NYSE:ABT) Bought by Olistico Wealth LLC

Olistico Wealth LLC acquired a new stake in shares of Abbott Laboratories (NYSE:ABT) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 536 shares of the healthcare product maker’s stock, valued at approximately $56,000.

Several other large investors also recently modified their holdings of ABT. Vanguard Group Inc. increased its position in Abbott Laboratories by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 156,467,081 shares of the healthcare product maker’s stock valued at $17,222,332,000 after purchasing an additional 701,740 shares during the period. Perigon Wealth Management LLC grew its holdings in Abbott Laboratories by 5.2% in the fourth quarter. Perigon Wealth Management LLC now owns 47,080 shares of the healthcare product maker’s stock worth $5,182,000 after purchasing an additional 2,317 shares during the period. Sanibel Captiva Trust Company Inc. purchased a new position in Abbott Laboratories during the fourth quarter valued at $16,764,000. Principal Securities Inc. purchased a new stake in shares of Abbott Laboratories in the fourth quarter worth $2,932,000. Finally, Garde Capital Inc. increased its stake in Abbott Laboratories by 16.4% during the 4th quarter. Garde Capital Inc. now owns 1,858 shares of the healthcare product maker’s stock valued at $205,000 after purchasing an additional 262 shares in the last quarter. 75.18% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ABT has been the subject of a number of research analyst reports. Barclays lifted their target price on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Citigroup lowered their target price on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. Evercore ISI decreased their price objective on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. The Goldman Sachs Group began coverage on shares of Abbott Laboratories in a research report on Thursday, May 30th. They issued a “buy” rating and a $121.00 target price for the company. Finally, Edward Jones downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $121.00.

Insider Transactions at Abbott Laboratories

In related news, EVP Jr. Robert E. Funck sold 10,097 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $104.57, for a total value of $1,055,843.29. Following the completion of the transaction, 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 legal filing with the SEC, which is available at the SEC website. Insiders own 1.10% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT traded up $0.44 during mid-day trading on Wednesday, reaching $109.94. 6,364,240 shares of the company traded hands, compared to its average volume of 6,057,474. The company’s 50 day moving average price is $104.47 and its 200-day moving average price is $108.92. The firm has a market cap of $191.26 billion, a PE ratio of 34.72, a PEG ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a 52 week low of $89.67 and a 52 week high of $121.64. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.11.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The company had revenue of $10.38 billion for the quarter, compared to analysts’ expectations of $10.37 billion. During the same period in the previous year, the firm earned $1.08 EPS. The firm’s revenue was up 4.0% compared to the same quarter last year. On average, equities analysts expect that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business 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 dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Monday, July 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

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.