Foguth Wealth Management LLC. Purchases New Position in Abbott Laboratories (NYSE:ABT)

Foguth Wealth Management LLC. acquired a new stake in Abbott Laboratories (NYSE:ABT) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 2,798 shares of the healthcare product maker’s stock, valued at approximately $318,000.

A number of other institutional investors have also recently bought and sold shares of the business. 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 purchasing an additional 92 shares during the last quarter. Rappaport Reiches Capital Management LLC grew 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 purchasing an additional 94 shares during the last quarter. Avion Wealth grew 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 purchasing an additional 96 shares during the last quarter. Wynn Capital LLC grew its stake in shares of Abbott Laboratories by 2.9% in the first quarter. Wynn Capital LLC now owns 3,427 shares of the healthcare product maker’s stock worth $390,000 after purchasing an additional 98 shares during the last quarter. Finally, Berger Financial Group Inc grew its stake in shares of Abbott Laboratories by 3.0% in the fourth quarter. Berger Financial Group Inc now owns 3,423 shares of the healthcare product maker’s stock worth $377,000 after purchasing an additional 99 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Insiders Place Their Bets

In other Abbott Laboratories news, EVP Jr. Robert E. Funck sold 10,097 shares of Abbott Laboratories stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $104.57, for a total value of $1,055,843.29. Following the completion of the sale, the executive vice president now owns 211,341 shares of the company’s stock, valued at approximately $22,099,928.37. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Lisa D. Earnhardt sold 22,852 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the completion of the sale, the executive vice president now owns 61,462 shares of the company’s stock, valued at approximately $6,530,337.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Jr. Robert E. Funck sold 10,097 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $104.57, for a total transaction of $1,055,843.29. Following the sale, the executive vice president now directly owns 211,341 shares of the company’s stock, valued at approximately $22,099,928.37. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

Abbott Laboratories Stock Down 0.7 %

Shares of ABT traded down $0.74 on Friday, hitting $103.91. 8,283,577 shares of the stock traded hands, compared to its average volume of 5,748,477. The company has a market capitalization of $180.76 billion, a PE ratio of 32.37, a P/E/G ratio of 2.52 and a beta of 0.74. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.11 and a current ratio of 1.60. The business has a 50 day simple moving average of $104.79 and a 200 day simple moving average of $110.10. Abbott Laboratories has a one year low of $89.67 and a one year high of $121.64.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.02. The company had revenue of $9.96 billion during the quarter, compared to the consensus estimate of $9.88 billion. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.03 earnings per share. As a group, equities analysts forecast that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Monday, July 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 68.54%.

Analyst Ratings Changes

Several analysts have commented on ABT shares. Barclays lowered their price objective on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a report on Monday, April 22nd. Royal Bank of Canada restated an “outperform” rating and issued a $125.00 price objective on shares of Abbott Laboratories in a report on Tuesday, June 4th. The Goldman Sachs Group started coverage on shares of Abbott Laboratories in a report on Thursday, May 30th. They issued a “buy” rating and a $121.00 price objective for the company. Raymond James restated a “buy” rating and issued a $124.00 price objective on shares of Abbott Laboratories in a report on Wednesday, April 24th. Finally, Citigroup lowered their price objective on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Abbott Laboratories currently has an average rating of “Moderate Buy” and an average target price of $120.64.

About Abbott Laboratories

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.