5,605 Shares in Abbott Laboratories (NYSE:ABT) Bought by Pandora Wealth Inc.

Key Points

• Pandora Wealth Inc. has acquired a new stake in Abbott Laboratories, purchasing 5,605 shares valued at approximately $744,000.
• Analysts have shown confidence in Abbott Laboratories, with four research analysts rating it as a hold and seventeen providing buy ratings, while the stock holds a consensus rating of "Moderate Buy."
• The company recently announced a quarterly dividend of $0.59 per share, reflecting an annualized yield of 1.8% and a dividend payout ratio of 29.57%.

Pandora Wealth Inc. acquired a new stake in Abbott Laboratories (NYSE:ABT - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 5,605 shares of the healthcare product maker's stock, valued at approximately $744,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cim LLC grew its position in shares of Abbott Laboratories by 0.4% in the fourth quarter. Cim LLC now owns 16,967 shares of the healthcare product maker's stock valued at $1,919,000 after purchasing an additional 73 shares during the period. Capital Square LLC raised its stake in Abbott Laboratories by 2.7% during the fourth quarter. Capital Square LLC now owns 2,941 shares of the healthcare product maker's stock worth $368,000 after purchasing an additional 77 shares during the period. Consilium Wealth Advisory LLC raised its stake in Abbott Laboratories by 2.1% during the first quarter. Consilium Wealth Advisory LLC now owns 3,822 shares of the healthcare product maker's stock worth $507,000 after purchasing an additional 78 shares during the period. Mayflower Financial Advisors LLC raised its stake in Abbott Laboratories by 0.5% during the first quarter. Mayflower Financial Advisors LLC now owns 17,327 shares of the healthcare product maker's stock worth $2,298,000 after purchasing an additional 78 shares during the period. Finally, Opes Wealth Management LLC raised its stake in Abbott Laboratories by 2.9% during the first quarter. Opes Wealth Management LLC now owns 2,854 shares of the healthcare product maker's stock worth $379,000 after purchasing an additional 80 shares during the period. Hedge funds and other institutional investors own 75.18% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. William Blair raised shares of Abbott Laboratories to a "strong-buy" rating in a research note on Thursday, July 17th. Leerink Partnrs raised shares of Abbott Laboratories to a "hold" rating in a research note on Monday, June 16th. Royal Bank Of Canada boosted their price target on shares of Abbott Laboratories from $145.00 to $147.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Mizuho boosted their price target on shares of Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Finally, Morgan Stanley boosted their price target on shares of Abbott Laboratories from $127.00 to $137.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $144.47.

Abbott Laboratories Trading Up 1.8%

Shares of Abbott Laboratories stock opened at $134.41 on Friday. The company has a fifty day simple moving average of $131.69 and a 200-day simple moving average of $130.98. Abbott Laboratories has a 12-month low of $107.11 and a 12-month high of $141.23. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. The stock has a market cap of $233.93 billion, a price-to-earnings ratio of 16.84, a PEG ratio of 2.50 and a beta of 0.70.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.26. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The business had revenue of $11.14 billion during the quarter, compared to analysts' expectations of $11.01 billion. During the same quarter in the prior year, the business posted $1.14 EPS. The company's revenue for the quarter was up 7.4% on a year-over-year basis. On average, equities analysts forecast that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be given a $0.59 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $2.36 annualized dividend and a yield of 1.8%. Abbott Laboratories's dividend payout ratio is 29.57%.

Abbott Laboratories Company 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.

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