Axxcess Wealth Management LLC Acquires 8,666 Shares of Abbott Laboratories (NYSE:ABT)

Axxcess Wealth Management LLC boosted its position in Abbott Laboratories (NYSE:ABT - Free Report) by 7.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 130,099 shares of the healthcare product maker's stock after acquiring an additional 8,666 shares during the period. Axxcess Wealth Management LLC's holdings in Abbott Laboratories were worth $17,258,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Three Seasons Wealth LLC purchased a new position in Abbott Laboratories during the fourth quarter worth about $1,428,000. Kelly Financial Services LLC purchased a new stake in Abbott Laboratories during the 1st quarter worth about $216,000. Voleon Capital Management LP purchased a new position in Abbott Laboratories during the fourth quarter valued at approximately $273,000. Bank Pictet & Cie Europe AG increased its holdings in shares of Abbott Laboratories by 1.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock worth $17,274,000 after purchasing an additional 2,774 shares during the period. Finally, Edge Financial Advisors LLC increased its holdings in shares of Abbott Laboratories by 3.3% in the first quarter. Edge Financial Advisors LLC now owns 2,530 shares of the healthcare product maker's stock worth $336,000 after purchasing an additional 81 shares during the period. Institutional investors and hedge funds own 75.18% of the company's stock.

Abbott Laboratories Stock Up 0.0%

NYSE:ABT traded up $0.05 on Wednesday, reaching $133.41. 4,613,653 shares of the stock traded hands, compared to its average volume of 6,162,455. The company has a market capitalization of $232.11 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 2.54 and a beta of 0.73. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $141.23. 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 company's fifty day simple moving average is $133.43 and its 200 day simple moving average is $128.69.

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 for the quarter, topping analysts' consensus estimates of $1.07 by $0.02. Abbott Laboratories had a return on equity of 19.01% and a net margin of 31.89%. The business had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.38 billion. Equities analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.77%. Abbott Laboratories's dividend payout ratio (DPR) is 30.61%.

Insider Buying and Selling

In other news, Director Sally E. Blount sold 2,600 shares of the stock in a transaction 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 sale, the director directly owned 34,058 shares of the company's stock, valued at $4,415,960.28. This represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.46% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ABT shares. Piper Sandler reiterated an "overweight" rating and set a $145.00 target price (up from $133.00) on shares of Abbott Laboratories in a research report on Thursday, April 17th. Leerink Partners assumed coverage on shares of Abbott Laboratories in a research report on Monday, June 16th. They issued a "market perform" rating and a $143.00 target price for the company. Stifel Nicolaus lifted their price target on Abbott Laboratories from $135.00 to $145.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Wells Fargo & Company increased their price objective on Abbott Laboratories from $136.00 to $147.00 and gave the company 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 stock an "outperform" rating in a research note on Thursday, April 17th. Six analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $143.11.

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.