Abbott Laboratories (NYSE:ABT) Shares Purchased by WealthPLAN Partners LLC

WealthPLAN Partners LLC increased its stake in Abbott Laboratories (NYSE:ABT) by 7.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 116,343 shares of the healthcare product maker’s stock after purchasing an additional 8,212 shares during the period. Abbott Laboratories accounts for about 1.2% of WealthPLAN Partners LLC’s portfolio, making the stock its 19th largest position. WealthPLAN Partners LLC’s holdings in Abbott Laboratories were worth $13,931,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Bangor Savings Bank raised its holdings in shares of Abbott Laboratories by 2.3% in the fourth quarter. Bangor Savings Bank now owns 5,159 shares of the healthcare product maker’s stock worth $448,000 after buying an additional 115 shares during the last quarter. Plimoth Trust Co. LLC increased its position in shares of Abbott Laboratories by 49.4% in the 4th quarter. Plimoth Trust Co. LLC now owns 18,775 shares of the healthcare product maker’s stock valued at $2,055,000 after acquiring an additional 6,207 shares during the period. Norris Perne & French LLP MI raised its stake in Abbott Laboratories by 2.3% in the 4th quarter. Norris Perne & French LLP MI now owns 108,700 shares of the healthcare product maker’s stock worth $11,902,000 after acquiring an additional 2,427 shares during the last quarter. Demars Financial Group LLC grew its stake in Abbott Laboratories by 21.5% during the 4th quarter. Demars Financial Group LLC now owns 30,580 shares of the healthcare product maker’s stock valued at $3,348,000 after purchasing an additional 5,410 shares during the last quarter. Finally, Congress Asset Management Co. MA grew its stake in Abbott Laboratories by 1.8% during the 4th quarter. Congress Asset Management Co. MA now owns 811,289 shares of the healthcare product maker’s stock valued at $88,828,000 after purchasing an additional 14,031 shares during the last quarter. 72.58% of the stock is currently owned by institutional investors.

Abbott Laboratories stock traded down $1.08 during mid-day trading on Tuesday, hitting $121.47. The company’s stock had a trading volume of 128,655 shares, compared to its average volume of 5,381,432. The firm has a market capitalization of $215.29 billion, a PE ratio of 64.84, a price-to-earnings-growth ratio of 2.06 and a beta of 0.83. Abbott Laboratories has a 1 year low of $61.61 and a 1 year high of $128.54. The company has a current ratio of 1.70, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The stock’s fifty day moving average is $118.10 and its two-hundred day moving average is $109.83.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Tuesday, January 26th. The healthcare product maker reported $1.45 EPS for the quarter, topping the consensus estimate of $1.35 by $0.10. Abbott Laboratories had a return on equity of 18.19% and a net margin of 10.50%. The business had revenue of $10.70 billion during the quarter, compared to analyst estimates of $9.94 billion. During the same period last year, the business posted $0.95 earnings per share. The company’s quarterly revenue was up 28.7% on a year-over-year basis. On average, equities analysts expect that Abbott Laboratories will post 3.57 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, May 17th. Stockholders of record on Thursday, April 15th will be given a dividend of $0.45 per share. The ex-dividend date is Wednesday, April 14th. This represents a $1.80 annualized dividend and a dividend yield of 1.48%. Abbott Laboratories’s dividend payout ratio is currently 55.56%.

In other news, SVP Joseph J. Manning sold 18,750 shares of the firm’s stock in a transaction that occurred on Monday, February 1st. The shares were sold at an average price of $122.79, for a total value of $2,302,312.50. Following the completion of the transaction, the senior vice president now owns 81,561 shares of the company’s stock, valued at $10,014,875.19. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Mary K. Moreland sold 505 shares of the firm’s stock in a transaction that occurred on Tuesday, February 16th. The shares were sold at an average price of $128.49, for a total transaction of $64,887.45. Following the completion of the transaction, the executive vice president now directly owns 63,878 shares of the company’s stock, valued at approximately $8,207,684.22. The disclosure for this sale can be found here. Insiders have sold 24,045 shares of company stock worth $2,881,071 in the last three months. Corporate insiders own 1.70% of the company’s stock.

ABT has been the topic of several research analyst reports. Wells Fargo & Company boosted their price target on Abbott Laboratories from $128.00 to $137.00 in a research note on Thursday, January 28th. BTIG Research upgraded Abbott Laboratories from a “neutral” rating to a “buy” rating and set a $140.00 price target on the stock in a research note on Thursday, January 28th. Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $130.00 price target on the stock in a research note on Tuesday, February 2nd. SVB Leerink boosted their price target on Abbott Laboratories from $115.00 to $128.00 and gave the company a “market perform” rating in a research note on Thursday, January 28th. Finally, Cowen boosted their price target on Abbott Laboratories from $113.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, January 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and sixteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $122.26.

About Abbott Laboratories

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. Its Established Pharmaceutical Products segment offers generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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