Buttonwood Financial Advisors Inc. purchased a new position in shares of Abbott Laboratories (NYSE: ABT – Get Rating) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,411 shares of the healthcare product maker’s stock, valued at approximately $ 285,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Blue Bell Private Wealth Management LLC acquired a new stake in shares of Abbott Laboratories during the fourth quarter worth about $ 30,000. Delos Wealth Advisors LLC raised its position in shares of Abbott Laboratories by 100.9% during the fourth quarter. Delos Wealth Advisors LLC now owns 231 shares of the healthcare product maker’s stock worth $ 33,000 after purchasing an additional 116 shares during the period. Retirement Group LLC raised its position in shares of Abbott Laboratories by 1,125.0% during the fourth quarter. Retirement Group LLC now owns 245 shares of the healthcare product maker’s stock worth $ 34,000 after purchasing an additional 225 shares during the period. Joseph Group Capital Management acquired a new stake in shares of Abbott Laboratories during the fourth quarter worth about $ 1,566,000. Finally, Holloway Wealth Management LLC raised its position in shares of Abbott Laboratories by 175.0% during the first quarter. Holloway Wealth Management LLC now owns 275 shares of the healthcare product maker’s stock worth $ 33,000 after purchasing an additional 175 shares during the period. 73.46% of the stock is currently owned by institutional investors.
A number of brokerages recently issued reports on ABT. BTIG Research dropped their target price on Abbott Laboratories from $ 140.00 to $ 130.00 and set a “buy” rating on the stock in a research report on Friday. Raymond James dropped their target price on Abbott Laboratories from $ 143.00 to $ 135.00 and set an “outperform” rating on the stock in a research report on Thursday, April 21st. Wells Fargo & Company dropped their target price on Abbott Laboratories from $ 155.00 to $ 150.00 and set an “overweight” rating on the stock in a research report on Friday, April 8th. StockNews.com began coverage on Abbott Laboratories in a research report on Thursday, March 31st. They issued a “strong-buy” rating on the stock. Finally, Morgan Stanley dropped their target price on Abbott Laboratories from $ 151.00 to $ 145.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 7th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $ 139.64.
In related news, SVP Randel William Woodgrift sold 24,000 shares of the business’s stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of $ 113.00, for a total value of $ 2,712,000.00. Following the completion of the sale, the senior vice president now directly owns 47,854 shares in the company, valued at approximately $ 5,407,502. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel J. Starks sold 50,000 shares of the business’s stock in a transaction on Tuesday, May 3rd. The shares were sold at an average price of $ 113.22, for a total value of $ 5,661,000.00. Following the completion of the sale, the director now owns 6,973,500 shares of the company stock, valued at $ 789,539,670. The disclosure for this sale can be found here. Insiders own 0.52% of the company stock.
ABT stock opened at $ 109.45 on Monday. The company has a quick ratio of 1.40, a current ratio of 1.85 and a debt-to-equity ratio of 0.48. Abbott Laboratories has a twelve month low of $ 101.24 and a twelve month high of $ 142.60. The business has a 50 day moving average price of $ 112.55 and a two-hundred day moving average price of $ 121.14. The company has a market cap of $ 191.64 billion, a price-to-earnings ratio of 25.39, a P / E / G ratio of 3.95 and a beta of 0.73.
Abbott Laboratories (NYSE: ABT – Get Rating) last issued its earnings results on Wednesday, April 20th. The healthcare product maker reported $ 1.73 EPS for the quarter, topping the consensus estimate of $ 1.47 by $ 0.26. Abbott Laboratories had a return on equity of 28.72% and a net margin of 17.35%. The company had revenue of $ 11.90 billion during the quarter, compared to the consensus estimate of $ 11 billion. During the same period in the previous year, the company posted $ 1.32 EPS. The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. On average, equities research analysts anticipate that Abbott Laboratories will post 4.84 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Friday, July 15th will be paid a dividend of $ 0.47 per share. The ex-dividend date of this dividend is Thursday, July 14th. This represents a $ 1.88 annualized dividend and a dividend yield of 1.72%. Abbott Laboratories’s dividend payout ratio is currently 43.62%.
About Abbott Laboratories: (Get Rating)
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 Established Pharmaceutical Products segment 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.
Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abbott Laboratories (NYSE: ABT – Get Rating).
Receive News & Ratings for Abbott Laboratories Daily: – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Abbott Laboratories and related companies with MarketBeat.com’s FREE daily email newsletter.