PRW Wealth Management LLC Invests $142,000 in Abbott Laboratories (ABT) Stock

Share on StockTwits

PRW Wealth Management LLC purchased a new stake in shares of Abbott Laboratories (NYSE:ABT) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,958 shares of the healthcare product maker’s stock, valued at approximately $142,000.

Other large investors have also bought and sold shares of the company. Delta Asset Management LLC TN increased its holdings in shares of Abbott Laboratories by 1.3% in the fourth quarter. Delta Asset Management LLC TN now owns 11,614 shares of the healthcare product maker’s stock worth $840,000 after purchasing an additional 150 shares during the last quarter. Annex Advisory Services LLC increased its holdings in shares of Abbott Laboratories by 1.0% in the fourth quarter. Annex Advisory Services LLC now owns 15,089 shares of the healthcare product maker’s stock worth $1,091,000 after purchasing an additional 150 shares during the last quarter. Fairview Capital Investment Management LLC increased its holdings in shares of Abbott Laboratories by 2.5% in the fourth quarter. Fairview Capital Investment Management LLC now owns 6,168 shares of the healthcare product maker’s stock worth $446,000 after purchasing an additional 151 shares during the last quarter. Tuttle Tactical Management increased its holdings in shares of Abbott Laboratories by 1.5% in the fourth quarter. Tuttle Tactical Management now owns 10,353 shares of the healthcare product maker’s stock worth $749,000 after purchasing an additional 153 shares during the last quarter. Finally, NewSquare Capital LLC increased its holdings in shares of Abbott Laboratories by 14.2% in the fourth quarter. NewSquare Capital LLC now owns 1,290 shares of the healthcare product maker’s stock worth $93,000 after purchasing an additional 160 shares during the last quarter. 75.16% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:ABT opened at $78.01 on Monday. Abbott Laboratories has a 1 year low of $56.81 and a 1 year high of $80.74. The company has a market cap of $137.90 billion, a price-to-earnings ratio of 27.09, a price-to-earnings-growth ratio of 2.09 and a beta of 1.13. The company has a quick ratio of 1.20, a current ratio of 1.62 and a debt-to-equity ratio of 0.63.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, January 23rd. The healthcare product maker reported $0.81 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.81. Abbott Laboratories had a return on equity of 16.55% and a net margin of 7.74%. The business had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.82 billion. During the same quarter in the previous year, the business earned $0.74 earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. Analysts anticipate that Abbott Laboratories will post 3.2 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be given a dividend of $0.32 per share. The ex-dividend date is Friday, April 12th. This represents a $1.28 annualized dividend and a dividend yield of 1.64%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.44%.

Several research analysts recently commented on the company. Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a research report on Tuesday, March 19th. Credit Suisse Group assumed coverage on Abbott Laboratories in a research report on Monday, December 17th. They issued an “outperform” rating and a $82.00 price target for the company. Wells Fargo & Co reiterated a “buy” rating on shares of Abbott Laboratories in a research report on Thursday, March 14th. Barclays set a $84.00 price target on Abbott Laboratories and gave the stock a “buy” rating in a research report on Friday, March 8th. Finally, Gabelli reiterated a “buy” rating on shares of Abbott Laboratories in a research report on Wednesday, January 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $80.18.

In related news, insider Jaime Contreras sold 177,457 shares of the business’s stock in a transaction that occurred on Wednesday, January 30th. The stock was sold at an average price of $70.00, for a total value of $12,421,990.00. Following the completion of the sale, the insider now owns 100,985 shares in the company, valued at $7,068,950. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian B. Yoor sold 2,246 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $78.00, for a total value of $175,188.00. Following the completion of the sale, the chief financial officer now owns 116,627 shares of the company’s stock, valued at approximately $9,096,906. The disclosure for this sale can be found here. Insiders have sold 280,021 shares of company stock valued at $20,485,856 in the last 90 days. Company insiders own 0.70% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This piece of content was first posted by Highlight Press and is the property of of Highlight Press. If you are viewing this piece of content on another website, it was illegally copied and reposted in violation of international copyright laws. The original version of this piece of content can be accessed at https://highlightpress.com/2019/04/15/prw-wealth-management-llc-invests-142000-in-abbott-laboratories-abt-stock.html.

Abbott Laboratories Profile

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

Further Reading: What is a Candlestick Chart?

Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abbott Laboratories (NYSE:ABT).

Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.