Schneider Downs Wealth Management Advisors LP Invests $227,000 in Abbott Laboratories (NYSE:ABT)

Schneider Downs Wealth Management Advisors LP acquired a new position in shares of Abbott Laboratories (NYSE:ABT) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,710 shares of the healthcare product maker’s stock, valued at approximately $227,000.

Other hedge funds have also made changes to their positions in the company. Three Seasons Wealth LLC acquired a new stake in shares of Abbott Laboratories during the fourth quarter worth $1,428,000. Kelly Financial Services LLC acquired a new position in Abbott Laboratories in the first quarter valued at $216,000. Voleon Capital Management LP acquired a new position in Abbott Laboratories in the fourth quarter valued at $273,000. Bank Pictet & Cie Europe AG boosted its holdings in Abbott Laboratories by 1.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker’s stock valued at $17,274,000 after acquiring an additional 2,774 shares during the last quarter. Finally, Edge Financial Advisors LLC boosted its holdings in Abbott Laboratories by 3.3% in the first quarter. Edge Financial Advisors LLC now owns 2,530 shares of the healthcare product maker’s stock valued at $336,000 after acquiring an additional 81 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Up 1.8%

Shares of NYSE ABT opened at $131.66 on Friday. Abbott Laboratories has a 1 year low of $110.33 and a 1 year high of $141.23. The firm has a market cap of $229.15 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 2.45 and a beta of 0.70. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82. The stock’s 50-day simple moving average is $131.40 and its 200-day simple moving average is $131.18.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, meeting the consensus estimate of $1.26. The firm had revenue of $11.14 billion during the quarter, compared to analyst estimates of $11.01 billion. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%. Abbott Laboratories’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.14 earnings per share. As a group, equities analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, July 15th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Tuesday, July 15th. Abbott Laboratories’s payout ratio is currently 29.57%.

Insiders Place Their Bets

In related news, CFO Philip P. Boudreau sold 5,550 shares of the business’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $134.55, for a total value of $746,752.50. Following the completion of the sale, the chief financial officer directly owned 51,003 shares of the company’s stock, valued at $6,862,453.65. The trade was a 9.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.46% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ABT has been the topic of a number of research analyst reports. Leerink Partners initiated coverage on Abbott Laboratories in a report on Monday, June 16th. They issued a “market perform” rating and a $143.00 target price on the stock. Raymond James Financial reduced their target price on Abbott Laboratories from $142.00 to $141.00 and set an “outperform” rating on the stock in a report on Friday, July 18th. Wells Fargo & Company reduced their target price on Abbott Laboratories from $147.00 to $142.00 and set an “overweight” rating on the stock in a report on Friday, July 18th. Morgan Stanley boosted their price objective on Abbott Laboratories from $127.00 to $137.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 15th. Finally, Leerink Partnrs upgraded Abbott Laboratories to a “hold” rating in a research note on Monday, June 16th. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Abbott Laboratories currently has an average rating of “Moderate Buy” and an average price target of $144.47.

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.