Gen Wealth Partners Inc Has $834,000 Stock Holdings in Abbott Laboratories (NYSE:ABT)

Gen Wealth Partners Inc reduced its holdings in shares of Abbott Laboratories (NYSE:ABT) by 2.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,374 shares of the healthcare product maker’s stock after selling 192 shares during the quarter. Gen Wealth Partners Inc’s holdings in Abbott Laboratories were worth $834,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ABT. Redwood Park Advisors LLC purchased a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $25,000. Noble Wealth Management PBC bought a new stake in Abbott Laboratories in the 4th quarter worth about $26,000. NewSquare Capital LLC increased its stake in Abbott Laboratories by 78.4% in the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock valued at $27,000 after buying an additional 105 shares during the last quarter. WealthTrak Capital Management LLC bought a new position in shares of Abbott Laboratories during the 4th quarter worth approximately $28,000. Finally, Rialto Wealth Management LLC purchased a new position in shares of Abbott Laboratories in the 4th quarter worth approximately $29,000. 75.18% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ABT has been the topic of a number of recent analyst reports. Citigroup lifted their price target on Abbott Laboratories from $135.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Morgan Stanley lifted their target price on Abbott Laboratories from $117.00 to $127.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 17th. Royal Bank of Canada increased their price target on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” rating in a research report on Thursday, April 17th. Argus raised shares of Abbott Laboratories to a “strong-buy” rating in a research report on Tuesday, January 28th. Finally, Barclays increased their target price on shares of Abbott Laboratories from $158.00 to $159.00 and gave the company an “overweight” rating in a research report on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $142.59.

Insider Activity at Abbott Laboratories

In other news, EVP Lisa D. Earnhardt sold 91,167 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $133.82, for a total transaction of $12,199,967.94. Following the sale, the executive vice president now owns 71,928 shares in the company, valued at approximately $9,625,404.96. This trade represents a 55.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Andrea F. Wainer sold 949 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was 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 owns 74,381 shares of the company’s stock, valued at $10,277,222.77. This trade represents a 1.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 95,278 shares of company stock valued at $12,745,859. Company insiders own 0.46% of the company’s stock.

Abbott Laboratories Stock Down 0.4 %

ABT stock opened at $133.50 on Friday. The stock has a 50-day simple moving average of $129.80 and a two-hundred day simple moving average of $123.46. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $141.23. The firm has a market capitalization of $232.27 billion, a PE ratio of 17.45, a PEG ratio of 2.52 and a beta of 0.74. 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 (NYSE:ABT) last issued its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, beating the consensus estimate of $1.07 by $0.02. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The company had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.38 billion. On average, equities analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.77%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 30.61%.

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.