UP Strategic Wealth Investment Advisors LLC Makes New Investment in Abbott Laboratories (NYSE:ABT)

UP Strategic Wealth Investment Advisors LLC bought a new stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,368 shares of the healthcare product maker's stock, valued at approximately $268,000.

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Abbott Laboratories in the 4th quarter worth about $2,373,461,000. T. Rowe Price Investment Management Inc. boosted its position in shares of Abbott Laboratories by 383.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,358,698 shares of the healthcare product maker's stock valued at $945,453,000 after acquiring an additional 6,628,310 shares during the period. Raymond James Financial Inc. purchased a new position in Abbott Laboratories during the fourth quarter valued at approximately $635,056,000. Capital International Investors lifted its stake in Abbott Laboratories by 3.4% in the 4th quarter. Capital International Investors now owns 67,972,953 shares of the healthcare product maker's stock worth $7,688,160,000 after purchasing an additional 2,229,026 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Abbott Laboratories by 27.6% in the 4th quarter. Invesco Ltd. now owns 9,018,429 shares of the healthcare product maker's stock worth $1,020,074,000 after purchasing an additional 1,948,329 shares in the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ABT has been the topic of several recent analyst reports. UBS Group increased their target price on shares of Abbott Laboratories from $146.00 to $148.00 and gave the stock a "buy" rating in a research note on Thursday, January 23rd. Royal Bank of Canada increased their target price on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a research note on Thursday, April 17th. Argus upgraded shares of Abbott Laboratories to a "strong-buy" rating in a research note on Tuesday, January 28th. Jefferies Financial Group increased their price target 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. Finally, The Goldman Sachs Group increased their price target on shares of Abbott Laboratories from $138.00 to $154.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $142.59.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, EVP Lisa D. Earnhardt sold 91,167 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $133.82, for a total transaction of $12,199,967.94. Following the sale, the executive vice president now directly owns 71,928 shares in the company, valued at approximately $9,625,404.96. This trade represents a 55.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of Abbott Laboratories stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $128.50, for a total value of $3,054,573.50. Following the completion of the sale, the executive vice president now directly owns 125,697 shares of the company's stock, valued at approximately $16,152,064.50. The trade was a 15.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 116,449 shares of company stock valued at $15,463,316 in the last three months. Company insiders own 0.46% of the company's stock.

Abbott Laboratories Trading Down 0.4 %

Shares of NYSE:ABT traded down $0.56 on Wednesday, hitting $129.94. The company had a trading volume of 2,966,021 shares, compared to its average volume of 6,056,189. The firm's 50-day simple moving average is $130.44 and its two-hundred day simple moving average is $122.65. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $225.36 billion, a price-to-earnings ratio of 16.99, a P/E/G ratio of 2.52 and a beta of 0.80.

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

Abbott Laboratories Dividend Announcement

The business also recently announced 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 is Tuesday, April 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.82%. Abbott Laboratories's dividend payout ratio is 30.61%.

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.