Abbott Laboratories (NYSE:ABT) Shares Acquired by Apollon Wealth Management LLC

Apollon Wealth Management LLC lifted its holdings in Abbott Laboratories (NYSE:ABT) by 41.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 64,490 shares of the healthcare product maker’s stock after acquiring an additional 18,779 shares during the quarter. Apollon Wealth Management LLC’s holdings in Abbott Laboratories were worth $7,098,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Signature Resources Capital Management LLC acquired a new stake in shares of Abbott Laboratories in the fourth quarter worth approximately $29,000. Rise Advisors LLC purchased a new stake in shares of Abbott Laboratories in the 4th quarter valued at approximately $37,000. Stuart Chaussee & Associates Inc. grew its position in Abbott Laboratories by 236.0% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 336 shares of the healthcare product maker’s stock worth $37,000 after acquiring an additional 236 shares during the period. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in Abbott Laboratories in the third quarter valued at $40,000. Finally, Cornerstone Planning Group LLC lifted its stake in shares of Abbott Laboratories by 79.4% in the 3rd quarter. Cornerstone Planning Group LLC now owns 454 shares of the healthcare product maker’s stock valued at $44,000 after purchasing an additional 201 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Abbott Laboratories

In related news, EVP Daniel Gesua Sive Salvadori sold 963 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $118.50, for a total transaction of $114,115.50. Following the completion of the sale, the executive vice president now owns 125,697 shares in the company, valued at approximately $14,895,094.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Daniel Gesua Sive Salvadori sold 963 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $114,115.50. Following the completion of the sale, the executive vice president now owns 125,697 shares in the company, valued at $14,895,094.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP John A. Jr. Mccoy sold 472 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $118.50, for a total transaction of $55,932.00. Following the completion of the transaction, the vice president now directly owns 18,760 shares in the company, valued at $2,223,060. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,935 shares of company stock worth $1,670,048. Insiders own 0.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Evercore ISI upped their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Barclays dropped their target price on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a report on Monday, April 22nd. Royal Bank of Canada lowered their price target on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a research report on Thursday, April 18th. Raymond James reiterated a “buy” rating and issued a $124.00 price objective on shares of Abbott Laboratories in a report on Wednesday, April 24th. Finally, Citigroup raised their target price on Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus target price of $121.50.

Abbott Laboratories Stock Up 0.5 %

NYSE ABT traded up $0.53 on Tuesday, hitting $106.17. 6,555,967 shares of the stock were exchanged, compared to its average volume of 5,552,894. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64. The company has a 50-day moving average price of $112.26 and a 200-day moving average price of $108.78. 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 company has a market cap of $184.70 billion, a PE ratio of 32.91, a PEG ratio of 2.55 and a beta of 0.76.

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

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Friday, April 12th. Abbott Laboratories’s dividend payout ratio is currently 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.