Alteri Wealth LLC Makes New $283,000 Investment in Abbott Laboratories (NYSE:ABT)

Alteri Wealth LLC acquired a new position in shares of Abbott Laboratories (NYSE:ABT - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 2,502 shares of the healthcare product maker's stock, valued at approximately $283,000.

Several other institutional investors also recently bought and sold shares of ABT. Redwood Park Advisors LLC acquired a new position in Abbott Laboratories during the 4th quarter valued at about $25,000. Noble Wealth Management PBC purchased a new stake in shares of Abbott Laboratories during the fourth quarter worth about $26,000. NewSquare Capital LLC raised its position in shares of Abbott Laboratories by 78.4% in the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker's stock valued at $27,000 after purchasing an additional 105 shares during the last quarter. WealthTrak Capital Management LLC acquired a new stake in Abbott Laboratories in the 4th quarter worth approximately $28,000. Finally, Rialto Wealth Management LLC purchased a new stake in Abbott Laboratories during the 4th quarter worth approximately $29,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Price Performance

Shares of NYSE ABT traded up $0.03 during midday trading on Friday, hitting $134.03. The stock had a trading volume of 1,692,638 shares, compared to its average volume of 7,037,324. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23. The company has a market capitalization of $233.19 billion, a PE ratio of 17.52, a P/E/G ratio of 2.52 and a beta of 0.74. The stock has a 50 day simple moving average of $129.88 and a 200-day simple moving average of $123.34.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.02. The company had revenue of $10.36 billion for the quarter, compared to analysts' expectations of $10.38 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. On average, sell-side analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.76%. Abbott Laboratories's dividend payout ratio (DPR) is presently 30.61%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ABT. Bank of America boosted their price objective on shares of Abbott Laboratories from $133.00 to $150.00 and gave the company a "buy" rating in a report on Monday, March 10th. StockNews.com cut Abbott Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 12th. Jefferies Financial Group upped their target price on Abbott Laboratories from $135.00 to $137.00 and gave the company a "hold" rating in a research report on Thursday, April 17th. Piper Sandler restated an "overweight" rating and set a $145.00 price objective (up from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. Finally, Argus upgraded shares of Abbott Laboratories to a "strong-buy" rating in a research note on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $142.59.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 949 shares of Abbott Laboratories stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $138.17, for a total transaction of $131,123.33. Following the transaction, the executive vice president now directly owns 74,381 shares of the company's stock, valued at $10,277,222.77. The trade was a 1.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sally E. Blount sold 2,600 shares of the firm's stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total transaction of $337,116.00. Following the sale, the director now owns 34,058 shares of the company's stock, valued at $4,415,960.28. This represents a 7.09 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 95,278 shares of company stock valued at $12,745,859. 0.46% of the stock is currently owned by insiders.

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.