Pinnacle Wealth Management Advisory Group LLC Acquires 1,182 Shares of Abbott Laboratories (NYSE:ABT)

Pinnacle Wealth Management Advisory Group LLC lifted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 18.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 7,739 shares of the healthcare product maker’s stock after acquiring an additional 1,182 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in Abbott Laboratories were worth $852,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. Signature Resources Capital Management LLC bought a new stake in Abbott Laboratories in the 4th quarter worth approximately $29,000. Stuart Chaussee & Associates Inc. increased its position in Abbott Laboratories by 236.0% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 336 shares of the healthcare product maker’s stock valued at $37,000 after acquiring an additional 236 shares during the last quarter. Rise Advisors LLC bought a new position in Abbott Laboratories in the fourth quarter valued at about $37,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in Abbott Laboratories in the third quarter worth about $40,000. Finally, Cornerstone Planning Group LLC grew its stake in shares of Abbott Laboratories by 79.4% during the 3rd quarter. Cornerstone Planning Group LLC now owns 454 shares of the healthcare product maker’s stock valued at $44,000 after purchasing an additional 201 shares during the period. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Price Performance

Shares of NYSE:ABT traded down $1.23 during midday trading on Wednesday, reaching $104.94. 6,149,178 shares of the company were exchanged, compared to its average volume of 5,560,422. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.32. The stock has a market cap of $182.56 billion, a PE ratio of 32.69, a price-to-earnings-growth ratio of 2.55 and a beta of 0.76. The business’s fifty day moving average is $112.00 and its two-hundred day moving average is $108.85. Abbott Laboratories has a one year low of $89.67 and a one year high of $121.64.

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

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $2.20 annualized dividend and a yield of 2.10%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Insider Buying and Selling at Abbott Laboratories

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 transaction of $2,428,025.00. Following the transaction, the executive vice president now directly owns 61,462 shares of the company’s stock, valued at $6,530,337.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Andrea F. Wainer sold 12,500 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the sale, the executive vice president now directly owns 78,704 shares of the company’s stock, valued at $9,444,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Lisa D. Earnhardt sold 22,852 shares of Abbott Laboratories stock in a transaction that occurred 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 sale, the executive vice president now owns 61,462 shares of the company’s stock, valued at $6,530,337.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,787 shares of company stock valued at $4,098,073. 0.47% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ABT. Raymond James reiterated a “buy” rating and set a $124.00 price target on shares of Abbott Laboratories in a research note on Wednesday, April 24th. Citigroup upped their price target on Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Royal Bank of Canada lowered their price objective on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating on the stock in a research report on Thursday, April 18th. Evercore ISI raised their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Finally, Barclays dropped their price target on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a research report on Monday, April 22nd. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.50.

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.