Gilliland Jeter Wealth Management LLC Takes Position in Abbott Laboratories (NYSE:ABT)

Gilliland Jeter Wealth Management LLC purchased a new stake in shares of Abbott Laboratories (NYSE:ABT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 4,777 shares of the healthcare product maker’s stock, valued at approximately $526,000.

Several other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP boosted its position in Abbott Laboratories by 4.3% during the third quarter. Wellington Management Group LLP now owns 31,208,711 shares of the healthcare product maker’s stock valued at $3,022,564,000 after purchasing an additional 1,298,219 shares in the last quarter. Northern Trust Corp boosted its holdings in Abbott Laboratories by 1.5% in the third quarter. Northern Trust Corp now owns 23,016,235 shares of the healthcare product maker’s stock worth $2,229,122,000 after acquiring an additional 343,559 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Abbott Laboratories by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,153,877 shares of the healthcare product maker’s stock worth $1,164,611,000 after acquiring an additional 32,157 shares in the last quarter. Flossbach Von Storch AG boosted its holdings in Abbott Laboratories by 1.5% in the fourth quarter. Flossbach Von Storch AG now owns 9,149,611 shares of the healthcare product maker’s stock worth $1,007,098,000 after acquiring an additional 135,821 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Abbott Laboratories by 0.4% in the third quarter. Invesco Ltd. now owns 5,949,700 shares of the healthcare product maker’s stock worth $576,228,000 after acquiring an additional 20,851 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Shares of NYSE:ABT traded up $0.67 during trading on Friday, reaching $107.53. The stock had a trading volume of 3,575,566 shares, compared to its average volume of 5,219,304. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.16 and a current ratio of 1.64. The business has a fifty day moving average price of $113.64 and a 200-day moving average price of $108.03. The stock has a market cap of $186.58 billion, a PE ratio of 33.50, a PEG ratio of 2.57 and a beta of 0.74. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. The company had revenue of $9.96 billion for the quarter, compared to analyst estimates of $9.88 billion. Abbott Laboratories had a return on equity of 20.32% and a net margin of 13.96%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 earnings per share. On average, 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 Wednesday, May 15th. Stockholders of record on Monday, April 15th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend is Friday, April 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Insider Activity

In other news, EVP Andrea F. Wainer sold 42,500 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $112.50, for a total value of $4,781,250.00. Following the transaction, the executive vice president now owns 65,027 shares of the company’s stock, valued at approximately $7,315,537.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Andrea F. Wainer sold 12,500 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $120.00, for a total value of $1,500,000.00. Following the sale, the executive vice president now owns 78,704 shares in the company, valued at approximately $9,444,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Andrea F. Wainer sold 42,500 shares of the company’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $112.50, for a total value of $4,781,250.00. Following the sale, the executive vice president now owns 65,027 shares in the company, valued at approximately $7,315,537.50. The disclosure for this sale can be found here. Insiders have sold a total of 56,435 shares of company stock valued at $6,451,298 in the last quarter. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

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