Essential Planning LLC. Invests $511,000 in Abbott Laboratories (NYSE:ABT)

Essential Planning LLC. purchased a new position in shares of Abbott Laboratories (NYSE:ABT) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,420 shares of the healthcare product maker’s stock, valued at approximately $511,000.

Other large investors have also modified their holdings of the company. Cape Investment Advisory Inc. lifted its holdings in Abbott Laboratories by 6.6% in the fourth quarter. Cape Investment Advisory Inc. now owns 1,236 shares of the healthcare product maker’s stock worth $140,000 after acquiring an additional 76 shares during the last quarter. LMG Wealth Partners LLC lifted its holdings in Abbott Laboratories by 3.8% in the fourth quarter. LMG Wealth Partners LLC now owns 2,161 shares of the healthcare product maker’s stock worth $244,000 after acquiring an additional 80 shares during the last quarter. Jacobson & Schmitt Advisors LLC lifted its holdings in Abbott Laboratories by 2.9% in the fourth quarter. Jacobson & Schmitt Advisors LLC now owns 2,827 shares of the healthcare product maker’s stock worth $320,000 after acquiring an additional 80 shares during the last quarter. Glass Wealth Management Co LLC lifted its holdings in Abbott Laboratories by 3.2% in the fourth quarter. Glass Wealth Management Co LLC now owns 2,640 shares of the healthcare product maker’s stock worth $299,000 after acquiring an additional 81 shares during the last quarter. Finally, Austin Wealth Management LLC lifted its holdings in Abbott Laboratories by 4.0% in the fourth quarter. Austin Wealth Management LLC now owns 2,134 shares of the healthcare product maker’s stock worth $242,000 after acquiring an additional 83 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Insider Buying and Selling

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $128.50, for a total value of $3,054,573.50. Following the completion of the transaction, the executive vice president now owns 125,697 shares of the company’s stock, valued at approximately $16,152,064.50. This trade represents a 15.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Eric Shroff sold 562 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $138.17, for a total transaction of $77,651.54. Following the completion of the transaction, the senior vice president now directly owns 31,970 shares of the company’s stock, valued at $4,417,294.90. This represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 116,449 shares of company stock worth $15,463,316. Corporate insiders own 0.47% of the company’s stock.

Abbott Laboratories Price Performance

NYSE ABT opened at $129.71 on Friday. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $141.23. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The firm has a market capitalization of $224.97 billion, a PE ratio of 16.96, a P/E/G ratio of 2.52 and a beta of 0.69. The company’s 50 day simple moving average is $126.90 and its 200 day simple moving average is $119.29.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.34. The firm had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $11.03 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the firm posted $1.19 earnings per share. As a group, equities research analysts forecast that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend is Tuesday, April 15th. Abbott Laboratories’s payout ratio is 30.85%.

Wall Street Analysts Forecast Growth

ABT has been the topic of a number of recent research reports. Wells Fargo & Company raised their target price on shares of Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Stifel Nicolaus raised their price target on shares of Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Barclays restated an “overweight” rating and issued a $158.00 price target (up previously from $149.00) on shares of Abbott Laboratories in a research note on Monday, January 27th. Bank of America raised their price target on shares of Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a research note on Monday. Finally, Evercore ISI raised their price target on shares of Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $137.94.

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.