Janiczek Wealth Management LLC Reduces Stock Holdings in Abbott Laboratories (NYSE:ABT)

Janiczek Wealth Management LLC reduced its stake in Abbott Laboratories (NYSE:ABT) by 12.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,200 shares of the healthcare product maker’s stock after selling 453 shares during the period. Janiczek Wealth Management LLC’s holdings in Abbott Laboratories were worth $364,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Signature Resources Capital Management LLC acquired a new stake in Abbott Laboratories in the fourth quarter valued at $29,000. Transcendent Capital Group LLC acquired a new stake in Abbott Laboratories in the fourth quarter valued at $29,000. Richardson Financial Services Inc. acquired a new stake in Abbott Laboratories in the fourth quarter valued at $29,000. True Wealth Design LLC lifted its holdings in Abbott Laboratories by 1,677.8% in the fourth quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock valued at $35,000 after acquiring an additional 302 shares during the period. Finally, Rise Advisors LLC acquired a new stake in Abbott Laboratories in the fourth quarter valued at $37,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Analysts Set New Price Targets

A number of analysts recently commented on ABT shares. The Goldman Sachs Group started coverage on Abbott Laboratories in a research report on Thursday, May 30th. They set a “buy” rating and a $121.00 price objective for the company. Barclays lowered their price target on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a report on Monday, April 22nd. Raymond James restated a “buy” rating and issued a $124.00 price target on shares of Abbott Laboratories in a report on Wednesday, April 24th. Evercore ISI lifted their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Finally, Citigroup reduced their price objective on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.64.

Abbott Laboratories Stock Performance

Shares of NYSE ABT traded down $0.36 during trading on Thursday, reaching $104.52. The stock had a trading volume of 1,399,851 shares, compared to its average volume of 5,664,372. Abbott Laboratories has a one year low of $89.67 and a one year high of $121.64. 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 stock has a market cap of $181.83 billion, a PE ratio of 32.71, a P/E/G ratio of 2.54 and a beta of 0.74. The firm’s 50 day moving average price is $104.87 and its two-hundred day moving average price is $110.13.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. The firm had revenue of $9.96 billion during the quarter, compared to the consensus estimate of $9.88 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.96%. The firm’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.03 EPS. On average, research 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. Shareholders of record on Monday, July 15th will be given 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 yield of 2.10%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

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.