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

Pinnacle Wealth Management Advisory Group LLC lifted its stake in Abbott Laboratories (NYSE:ABT) by 18.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,739 shares of the healthcare product maker’s stock after acquiring an additional 1,182 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Abbott Laboratories were worth $852,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Alliance Wealth Advisors LLC UT increased its stake in Abbott Laboratories by 0.4% during the fourth quarter. Alliance Wealth Advisors LLC UT now owns 25,085 shares of the healthcare product maker’s stock valued at $2,761,000 after acquiring an additional 92 shares during the period. Rappaport Reiches Capital Management LLC boosted its position in shares of Abbott Laboratories by 0.8% during the 4th quarter. Rappaport Reiches Capital Management LLC now owns 12,287 shares of the healthcare product maker’s stock valued at $1,352,000 after acquiring an additional 94 shares in the last quarter. Avion Wealth raised its position in 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 in the last quarter. Renaissance Investment Group LLC lifted its stake in Abbott Laboratories by 0.7% during the fourth quarter. Renaissance Investment Group LLC now owns 14,204 shares of the healthcare product maker’s stock worth $1,563,000 after purchasing an additional 100 shares during the period. Finally, Drive Wealth Management LLC grew its stake in shares of Abbott Laboratories by 1.5% in the 4th quarter. Drive Wealth Management LLC now owns 6,712 shares of the healthcare product maker’s stock valued at $739,000 after purchasing an additional 100 shares during the period. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Trading Down 1.2 %

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 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 capitalization of $182.56 billion, a P/E ratio of 32.69, a PEG ratio of 2.55 and a beta of 0.76. The stock’s 50-day simple moving average is $112.00 and its 200 day simple 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 (EPS) for the quarter, beating 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 firm had revenue of $9.96 billion during the quarter, compared to analysts’ expectations of $9.88 billion. During the same quarter in the previous year, the company earned $1.03 earnings per share. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, analysts forecast that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given 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 is currently 68.54%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, EVP Lisa D. Earnhardt sold 22,852 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 61,462 shares in the company, valued at $6,530,337.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Abbott Laboratories news, VP John A. Jr. Mccoy sold 472 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $55,932.00. Following the transaction, the vice president now owns 18,760 shares of the company’s stock, valued at approximately $2,223,060. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lisa D. Earnhardt sold 22,852 shares of the firm’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 transaction, the executive vice president now directly owns 61,462 shares of the company’s stock, valued at $6,530,337.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,787 shares of company stock valued at $4,098,073. Company insiders own 0.47% of the company’s stock.

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.