Wolff Wiese Magana LLC Has $2.02 Million Holdings in Abbott Laboratories (NYSE:ABT)

Wolff Wiese Magana LLC increased its position in shares of Abbott Laboratories (NYSE:ABT) by 0.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,752 shares of the healthcare product maker’s stock after buying an additional 144 shares during the period. Abbott Laboratories accounts for approximately 1.7% of Wolff Wiese Magana LLC’s investment portfolio, making the stock its 18th biggest position. Wolff Wiese Magana LLC’s holdings in Abbott Laboratories were worth $2,018,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ABT. Dark Forest Capital Management LP bought a new position in Abbott Laboratories during the third quarter worth $310,000. Morningstar Investment Services LLC bought a new position in Abbott Laboratories during the third quarter worth $250,000. Sherbrooke Park Advisers LLC bought a new position in Abbott Laboratories during the third quarter worth $511,000. Rehmann Capital Advisory Group boosted its position in Abbott Laboratories by 3.5% during the third quarter. Rehmann Capital Advisory Group now owns 11,843 shares of the healthcare product maker’s stock worth $1,147,000 after purchasing an additional 398 shares during the period. Finally, Schonfeld Strategic Advisors LLC boosted its position in Abbott Laboratories by 1,121.5% during the third quarter. Schonfeld Strategic Advisors LLC now owns 48,663 shares of the healthcare product maker’s stock worth $4,713,000 after purchasing an additional 44,679 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ABT shares. Raymond James reaffirmed a “buy” rating and set a $124.00 price objective on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Evercore ISI boosted their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Citigroup reduced 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 report on Wednesday, May 22nd. Royal Bank of Canada reissued an “outperform” rating and issued a $125.00 target price on shares of Abbott Laboratories in a research report on Tuesday, June 4th. Finally, The Goldman Sachs Group started coverage on shares of Abbott Laboratories in a research report on Thursday, May 30th. They issued a “buy” rating and a $121.00 target price for the company. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and an average target price of $120.64.

Abbott Laboratories Price Performance

NYSE ABT traded down $0.60 during trading on Monday, hitting $103.31. 1,405,437 shares of the company’s stock were exchanged, compared to its average volume of 5,672,500. 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 company has a market cap of $179.72 billion, a PE ratio of 32.37, a P/E/G ratio of 2.50 and a beta of 0.72. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64. The stock’s 50 day moving average price is $104.79 and its two-hundred day moving average price is $110.12.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, topping the consensus estimate 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 business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.03 earnings per share. Research analysts expect that Abbott Laboratories will post 4.62 EPS for the current year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Monday, July 15th. Abbott Laboratories’s payout ratio is 68.54%.

Insiders Place Their Bets

In other news, EVP Jr. Robert E. Funck sold 10,097 shares of the company’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 value of $1,055,843.29. Following the completion of the transaction, the executive vice president now owns 211,341 shares of the company’s stock, valued at $22,099,928.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Jr. Robert E. Funck sold 10,097 shares of the company’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 value of $1,055,843.29. Following the completion of the transaction, the executive vice president now owns 211,341 shares of the company’s stock, valued at $22,099,928.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lisa D. Earnhardt sold 22,852 shares of the company’s stock in a transaction that occurred on 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 directly owns 61,462 shares of the company’s stock, valued at approximately $6,530,337.50. The disclosure for this sale can be found here. Insiders own 0.47% of the company’s stock.

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.