AdvisorNet Financial Inc Purchases 215 Shares of Abbott Laboratories (NYSE:ABT)

AdvisorNet Financial Inc grew its holdings in shares of Abbott Laboratories (NYSE:ABT) by 0.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 47,786 shares of the healthcare product maker’s stock after purchasing an additional 215 shares during the period. AdvisorNet Financial Inc’s holdings in Abbott Laboratories were worth $5,431,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ABT. Signature Resources Capital Management LLC acquired a new stake in shares of Abbott Laboratories in the fourth quarter worth $29,000. Transcendent Capital Group LLC acquired a new stake in shares of Abbott Laboratories in the 4th quarter worth $29,000. Richardson Financial Services Inc. purchased a new stake in shares of Abbott Laboratories during the 4th quarter valued at approximately $29,000. True Wealth Design LLC grew its holdings in shares of Abbott Laboratories by 1,677.8% during the 4th quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock worth $35,000 after purchasing an additional 302 shares during the period. Finally, Rise Advisors LLC acquired a new stake in shares of Abbott Laboratories during the fourth quarter valued at about $37,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 0.2 %

NYSE:ABT traded down $0.22 during mid-day trading on Monday, hitting $105.50. The company had a trading volume of 1,873,921 shares, compared to its average volume of 5,682,179. The business has a fifty day simple moving average of $105.04 and a 200-day simple moving average of $110.15. The firm has a market capitalization of $183.53 billion, a price-to-earnings ratio of 32.93, a PEG ratio of 2.56 and a beta of 0.74. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $121.64. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.32.

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

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, July 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.09%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Insiders Place Their Bets

In other Abbott Laboratories news, EVP Lisa D. Earnhardt sold 22,852 shares of Abbott Laboratories stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the transaction, the executive vice president now owns 61,462 shares of the company’s stock, valued at approximately $6,530,337.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Lisa D. Earnhardt sold 22,852 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $106.25, for a total value of $2,428,025.00. Following the completion of the transaction, the executive vice president now owns 61,462 shares of the company’s stock, valued at $6,530,337.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jr. Robert E. Funck sold 10,097 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was 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.

Analysts Set New Price Targets

ABT has been the subject of several recent analyst reports. Evercore ISI boosted their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Royal Bank of Canada reiterated an “outperform” rating and issued a $125.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Raymond James reiterated a “buy” rating and issued a $124.00 price target on shares of Abbott Laboratories in a research report on Wednesday, April 24th. The Goldman Sachs Group began coverage on shares of Abbott Laboratories in a research note on Thursday, May 30th. They issued a “buy” rating and a $121.00 price objective on the stock. Finally, Citigroup decreased their target price on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $120.64.

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.