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

Traveka Wealth LLC increased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 18.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,306 shares of the healthcare product maker’s stock after purchasing an additional 663 shares during the period. Traveka Wealth LLC’s holdings in Abbott Laboratories were worth $571,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Redwood Park Advisors LLC purchased a new stake in Abbott Laboratories during the 4th quarter worth $25,000. WealthTrak Capital Management LLC purchased a new stake in Abbott Laboratories during the 4th quarter worth $28,000. Rialto Wealth Management LLC purchased a new stake in Abbott Laboratories during the 4th quarter worth $29,000. Wormser Freres Gestion purchased a new position in Abbott Laboratories in the 4th quarter valued at about $32,000. Finally, JCIC Asset Management Inc. purchased a new position in Abbott Laboratories in the 1st quarter valued at about $32,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories 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 sale, the director owned 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ABT. Barclays upped their price objective on shares of Abbott Laboratories from $158.00 to $159.00 and gave the company an “overweight” rating in a research report on Thursday, April 17th. Piper Sandler reissued an “overweight” rating and issued a $145.00 price objective (up from $133.00) on shares of Abbott Laboratories in a research report on Thursday, April 17th. Stifel Nicolaus upped their price objective on shares of Abbott Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. Raymond James Financial increased their price target on shares of Abbott Laboratories from $132.00 to $142.00 and gave the stock an “outperform” rating in a research report on Thursday, April 17th. Finally, Morgan Stanley increased their price target on shares of Abbott Laboratories from $117.00 to $127.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 17th. Six 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 data from MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $142.61.

Abbott Laboratories Price Performance

ABT opened at $133.70 on Friday. The firm has a market cap of $232.61 billion, a price-to-earnings ratio of 17.34, a price-to-earnings-growth ratio of 2.55 and a beta of 0.73. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $141.23. The company’s 50-day moving average price is $133.29 and its 200 day moving average price is $128.41. The company has a quick ratio of 1.27, a current ratio of 1.78 and a debt-to-equity ratio of 0.26.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.02. The firm had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.38 billion. Abbott Laboratories had a net margin of 31.89% and a return on equity of 19.01%. As a group, sell-side analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently declared 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 of this dividend is Tuesday, July 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.77%. Abbott Laboratories’s payout ratio is currently 30.61%.

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.