Insigneo Advisory Services LLC Has $1.81 Million Stock Position in Abbott Laboratories (NYSE:ABT)

Insigneo Advisory Services LLC boosted its position in Abbott Laboratories (NYSE:ABT) by 9.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 13,649 shares of the healthcare product maker’s stock after purchasing an additional 1,213 shares during the period. Insigneo Advisory Services LLC’s holdings in Abbott Laboratories were worth $1,811,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Redwood Park Advisors LLC acquired a new stake in Abbott Laboratories in the 4th quarter valued at about $25,000. Noble Wealth Management PBC acquired a new stake in Abbott Laboratories in the 4th quarter valued at about $26,000. NewSquare Capital LLC lifted its stake in Abbott Laboratories by 78.4% in the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock valued at $27,000 after purchasing an additional 105 shares during the last quarter. WealthTrak Capital Management LLC acquired a new stake in Abbott Laboratories in the 4th quarter valued at about $28,000. Finally, Rialto Wealth Management LLC acquired a new stake in Abbott Laboratories in the 4th quarter valued at about $29,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on ABT. Morgan Stanley raised their price objective 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. Bank of America raised their price objective on shares of Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Raymond James raised their price objective 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. Stifel Nicolaus raised their price objective on shares of Abbott Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. Finally, Royal Bank of Canada raised their price objective on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a research report on Thursday, April 17th. Five analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $142.61.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the business’s stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total transaction of $337,116.00. Following the sale, the director now owns 34,058 shares of the company’s stock, valued at approximately $4,415,960.28. The trade was a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.46% of the company’s stock.

Abbott Laboratories Stock Down 1.2%

NYSE ABT opened at $133.99 on Tuesday. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $141.23. The company has a market cap of $233.12 billion, a price-to-earnings ratio of 17.51, a PEG ratio of 2.52 and a beta of 0.73. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The company has a 50 day moving average of $131.70 and a 200-day moving average of $126.58.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, beating 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 business had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.38 billion. On average, equities research analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $2.36 annualized dividend and a yield of 1.76%. Abbott Laboratories’s dividend payout ratio is currently 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.