Maia Wealth LLC Makes New $254,000 Investment in Abbott Laboratories (NYSE:ABT)

Maia Wealth LLC acquired a new position in shares of Abbott Laboratories (NYSE:ABT) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,467 shares of the healthcare product maker’s stock, valued at approximately $254,000.

Several other hedge funds also recently made changes to their positions in the business. Norges Bank bought a new position in Abbott Laboratories in the fourth quarter valued at approximately $2,115,836,000. Vanguard Group Inc. grew its stake in shares of Abbott Laboratories by 5.6% during the first quarter. Vanguard Group Inc. now owns 165,301,921 shares of the healthcare product maker’s stock worth $18,788,216,000 after buying an additional 8,834,840 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Abbott Laboratories by 9.5% during the fourth quarter. Capital Research Global Investors now owns 86,588,614 shares of the healthcare product maker’s stock worth $9,530,825,000 after buying an additional 7,527,778 shares during the last quarter. Capital International Investors grew its stake in shares of Abbott Laboratories by 9.1% during the first quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker’s stock worth $7,976,382,000 after buying an additional 5,882,780 shares during the last quarter. Finally, Boston Partners grew its stake in shares of Abbott Laboratories by 12,577.8% during the fourth quarter. Boston Partners now owns 3,772,670 shares of the healthcare product maker’s stock worth $415,948,000 after buying an additional 3,742,912 shares during the last quarter. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Stock Performance

ABT traded up $0.52 during midday trading on Wednesday, reaching $108.76. The company had a trading volume of 164,120 shares, compared to its average volume of 5,996,852. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.11 and a current ratio of 1.68. The stock has a market cap of $189.20 billion, a PE ratio of 33.72, a P/E/G ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a 12-month low of $89.67 and a 12-month high of $121.64. The business has a 50-day moving average price of $105.13 and a two-hundred day moving average price of $108.79.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. The company had revenue of $10.38 billion for the quarter, compared to analysts’ expectations of $10.37 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. Abbott Laboratories’s revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.08 EPS. On average, sell-side analysts expect that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Monday, July 15th. Abbott Laboratories’s payout ratio is currently 68.54%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ABT shares. The Goldman Sachs Group started coverage on shares of Abbott Laboratories in a report on Thursday, May 30th. They set a “buy” rating and a $121.00 price target on the stock. Barclays lifted their price target on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Raymond James restated a “buy” rating and issued a $124.00 target price on shares of Abbott Laboratories in a report on Wednesday, April 24th. Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Finally, Evercore ISI dropped their target price on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $121.00.

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.