Axxcess Wealth Management LLC Purchases 1,579 Shares of Abbott Laboratories (NYSE:ABT)

Axxcess Wealth Management LLC raised its position in Abbott Laboratories (NYSE:ABT) by 1.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 121,433 shares of the healthcare product maker’s stock after buying an additional 1,579 shares during the period. Axxcess Wealth Management LLC’s holdings in Abbott Laboratories were worth $13,735,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of ABT. Raymond James Financial Inc. bought a new position in Abbott Laboratories in the 4th quarter valued at $635,056,000. Massachusetts Financial Services Co. MA boosted its position in shares of Abbott Laboratories by 25.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker’s stock worth $1,518,539,000 after purchasing an additional 2,711,586 shares during the last quarter. State Street Corp boosted its position in shares of Abbott Laboratories by 3.1% in the 3rd quarter. State Street Corp now owns 76,720,429 shares of the healthcare product maker’s stock worth $8,746,896,000 after purchasing an additional 2,323,807 shares during the last quarter. Sessa Capital IM L.P. boosted its position in shares of Abbott Laboratories by 47.1% in the 3rd quarter. Sessa Capital IM L.P. now owns 3,749,502 shares of the healthcare product maker’s stock worth $427,481,000 after purchasing an additional 1,200,409 shares during the last quarter. Finally, Jennison Associates LLC lifted its holdings in Abbott Laboratories by 22,372.2% during the fourth quarter. Jennison Associates LLC now owns 1,201,364 shares of the healthcare product maker’s stock worth $135,886,000 after acquiring an additional 1,196,018 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $127.54 on Tuesday. The business’s 50 day moving average price is $127.45 and its two-hundred day moving average price is $119.58. The company has a market cap of $221.19 billion, a PE ratio of 16.67, a price-to-earnings-growth ratio of 2.52 and a beta of 0.70. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $141.23.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.34. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The company had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $11.03 billion. During the same quarter in the previous year, the company posted $1.19 earnings per share. The business’s revenue was up 7.2% on a year-over-year basis. On average, analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend is Tuesday, April 15th. Abbott Laboratories’s dividend payout ratio is presently 30.85%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ABT shares. Argus upgraded Abbott Laboratories to a “strong-buy” rating in a report on Tuesday, January 28th. Wells Fargo & Company lifted their price target on Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. UBS Group lifted their price target on Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Stifel Nicolaus lifted their price target on Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Finally, StockNews.com downgraded Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $137.94.

Insider Activity at Abbott Laboratories

In other news, EVP Andrea F. Wainer sold 949 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $138.17, for a total transaction of $131,123.33. Following the completion of the transaction, the executive vice president now directly owns 74,381 shares in the company, valued at approximately $10,277,222.77. This represents a 1.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the transaction, the executive vice president now owns 125,697 shares of the company’s stock, valued at $16,152,064.50. This trade represents a 15.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 116,449 shares of company stock worth $15,463,316. Company insiders own 1.10% 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.