Petros Family Wealth LLC Acquires New Stake in Abbott Laboratories (NYSE:ABT)

Petros Family Wealth LLC acquired a new stake in Abbott Laboratories (NYSE:ABT - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 4,137 shares of the healthcare product maker's stock, valued at approximately $549,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Embree Financial Group increased its stake in Abbott Laboratories by 6.3% during the 1st quarter. Embree Financial Group now owns 28,772 shares of the healthcare product maker's stock valued at $3,817,000 after purchasing an additional 1,705 shares in the last quarter. FORM Wealth Advisors LLC acquired a new stake in shares of Abbott Laboratories in the 1st quarter worth about $531,000. Legacy Advisors LLC boosted its stake in Abbott Laboratories by 23.8% during the 1st quarter. Legacy Advisors LLC now owns 40,313 shares of the healthcare product maker's stock valued at $5,347,000 after purchasing an additional 7,748 shares during the last quarter. GHP Investment Advisors Inc. increased its holdings in Abbott Laboratories by 3.4% during the 1st quarter. GHP Investment Advisors Inc. now owns 29,491 shares of the healthcare product maker's stock worth $3,912,000 after purchasing an additional 959 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its stake in shares of Abbott Laboratories by 4.7% in the first quarter. Asset Management One Co. Ltd. now owns 818,644 shares of the healthcare product maker's stock worth $108,593,000 after purchasing an additional 37,033 shares during the last quarter. 75.18% of the stock is owned by institutional investors.

Insider Buying and Selling at Abbott Laboratories

In other news, Director Sally E. Blount sold 2,600 shares of the firm's stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total value of $337,116.00. Following the completion of the transaction, the director now directly owns 34,058 shares in the company, valued at approximately $4,415,960.28. This trade represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.46% of the company's stock.

Abbott Laboratories Stock Performance

Shares of NYSE ABT traded down $0.62 during midday trading on Wednesday, hitting $137.46. The company's stock had a trading volume of 5,505,352 shares, compared to its average volume of 6,115,125. The firm has a market capitalization of $239.16 billion, a price-to-earnings ratio of 17.83, a P/E/G ratio of 2.53 and a beta of 0.73. The company has a current ratio of 1.78, a quick ratio of 1.27 and a debt-to-equity ratio of 0.26. The stock has a fifty day moving average price of $132.54 and a 200 day moving average price of $127.23. Abbott Laboratories has a one year low of $99.71 and a one year high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.02. Abbott Laboratories had a net margin of 31.89% and a return on equity of 19.01%. The business had revenue of $10.36 billion for the quarter, compared to analysts' expectations of $10.38 billion. On average, research analysts forecast that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be paid a $0.59 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $2.36 annualized dividend and a yield of 1.72%. Abbott Laboratories's dividend payout ratio is currently 30.61%.

Analyst Ratings Changes

ABT has been the topic of a number of analyst reports. Jefferies Financial Group lifted their price objective on shares of Abbott Laboratories from $135.00 to $137.00 and gave the stock a "hold" rating in a report on Thursday, April 17th. Leerink Partnrs upgraded shares of Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. Barclays upped their price objective on shares of Abbott Laboratories from $158.00 to $159.00 and gave the stock an "overweight" rating in a research report on Thursday, April 17th. Wells Fargo & Company lifted their target price on shares of Abbott Laboratories from $136.00 to $147.00 and gave the stock an "overweight" rating in a research report on Thursday, April 17th. Finally, Raymond James Financial upped their target price on Abbott Laboratories from $132.00 to $142.00 and gave the company an "outperform" rating in a report on Thursday, April 17th. Six investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $142.61.

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.