RMR Wealth Builders Has $1.75 Million Holdings in Abbott Laboratories (NYSE:ABT)

RMR Wealth Builders raised its position in shares of Abbott Laboratories (NYSE:ABT) by 13.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 15,912 shares of the healthcare product maker’s stock after purchasing an additional 1,877 shares during the quarter. RMR Wealth Builders’ holdings in Abbott Laboratories were worth $1,751,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ABT. Alliance Wealth Advisors LLC UT grew its stake in shares of Abbott Laboratories by 0.4% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 25,085 shares of the healthcare product maker’s stock worth $2,761,000 after acquiring an additional 92 shares during the last quarter. Rappaport Reiches Capital Management LLC raised its stake in shares of Abbott Laboratories by 0.8% in the fourth quarter. Rappaport Reiches Capital Management LLC now owns 12,287 shares of the healthcare product maker’s stock worth $1,352,000 after buying an additional 94 shares during the period. Avion Wealth raised its stake in shares of Abbott Laboratories by 19.4% in the fourth quarter. Avion Wealth now owns 591 shares of the healthcare product maker’s stock worth $65,000 after buying an additional 96 shares during the period. Renaissance Investment Group LLC grew its position in shares of Abbott Laboratories by 0.7% during the fourth quarter. Renaissance Investment Group LLC now owns 14,204 shares of the healthcare product maker’s stock worth $1,563,000 after purchasing an additional 100 shares in the last quarter. Finally, Drive Wealth Management LLC grew its position in shares of Abbott Laboratories by 1.5% during the fourth quarter. Drive Wealth Management LLC now owns 6,712 shares of the healthcare product maker’s stock worth $739,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Buying and Selling

In related news, VP John A. Jr. Mccoy sold 472 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $55,932.00. Following the completion of the sale, the vice president now directly owns 18,760 shares in the company, valued at approximately $2,223,060. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Lisa D. Earnhardt sold 22,852 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the transaction, the executive vice president now directly owns 61,462 shares of the company’s stock, valued at approximately $6,530,337.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP John A. Jr. Mccoy sold 472 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $118.50, for a total value of $55,932.00. Following the transaction, the vice president now directly owns 18,760 shares in the company, valued at $2,223,060. The disclosure for this sale can be found here. Insiders sold 36,787 shares of company stock worth $4,098,073 in the last three months. 0.47% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ABT. Royal Bank of Canada cut their price target on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a report on Thursday, April 18th. Evercore ISI boosted their target price on Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Barclays dropped their price objective on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a report on Monday, April 22nd. Raymond James restated a “buy” rating and set a $124.00 price objective on shares of Abbott Laboratories in a report on Wednesday, April 24th. Finally, Citigroup boosted their price objective on Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $121.50.

Abbott Laboratories Price Performance

Shares of ABT stock opened at $104.94 on Thursday. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64. The stock has a market capitalization of $182.56 billion, a price-to-earnings ratio of 32.69, a P/E/G ratio of 2.55 and a beta of 0.76. The stock has a fifty day simple moving average of $112.00 and a two-hundred day simple moving average of $108.85. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. The firm had revenue of $9.96 billion during the quarter, compared to analysts’ expectations of $9.88 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.96%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.03 EPS. On average, analysts predict that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Friday, April 12th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 68.54%.

Abbott Laboratories 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.