Abbott Laboratories $ABT Shares Acquired by Beaumont Financial Advisors LLC

Key Points

• Beaumont Financial Advisors LLC increased its Abbott Laboratories stake by 193.8% in Q1, buying an additional 45,634 shares and bringing its total to 69,183 shares worth about $7.1 million.
• Abbott reported better-than-expected quarterly results, with EPS of $1.15 versus $1.14 expected and revenue of $11.16 billion, up 7.8% year over year.
• The company also announced a quarterly dividend of $0.63 per share, equal to an annualized yield of about 2.8%, while analysts currently hold a Moderate Buy consensus with a target price of $117.61.

Beaumont Financial Advisors LLC boosted its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 193.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 69,183 shares of the healthcare product maker's stock after purchasing an additional 45,634 shares during the period. Beaumont Financial Advisors LLC's holdings in Abbott Laboratories were worth $7,103,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of ABT. American National Bank of Texas grew its position in shares of Abbott Laboratories by 2.4% during the fourth quarter. American National Bank of Texas now owns 3,408 shares of the healthcare product maker's stock worth $427,000 after acquiring an additional 79 shares during the last quarter. Nia Impact Advisors LLC boosted its stake in Abbott Laboratories by 2.2% during the 2nd quarter. Nia Impact Advisors LLC now owns 3,706 shares of the healthcare product maker's stock valued at $504,000 after purchasing an additional 79 shares during the period. Park Place Capital Corp grew its position in Abbott Laboratories by 11.0% in the 4th quarter. Park Place Capital Corp now owns 815 shares of the healthcare product maker's stock worth $102,000 after purchasing an additional 81 shares during the last quarter. Lantern Wealth Advisors LLC increased its stake in shares of Abbott Laboratories by 1.7% in the third quarter. Lantern Wealth Advisors LLC now owns 5,028 shares of the healthcare product maker's stock valued at $674,000 after purchasing an additional 84 shares during the period. Finally, Clayton Financial Group LLC raised its holdings in shares of Abbott Laboratories by 1.4% during the fourth quarter. Clayton Financial Group LLC now owns 6,217 shares of the healthcare product maker's stock valued at $779,000 after buying an additional 84 shares during the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock opened at $89.27 on Thursday. The stock has a market cap of $155.49 billion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 1.53 and a beta of 0.61. Abbott Laboratories has a 12 month low of $81.97 and a 12 month high of $137.49. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.56. The business has a fifty day simple moving average of $89.33 and a 200-day simple moving average of $102.36.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings data on Thursday, April 16th. The healthcare product maker reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.01. Abbott Laboratories had a net margin of 13.90% and a return on equity of 17.62%. The firm had revenue of $11.16 billion for the quarter, compared to analyst estimates of $10.99 billion. During the same quarter in the prior year, the business earned $1.09 EPS. The company's revenue for the quarter was up 7.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Abbott Laboratories will post 5.48 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Wednesday, July 15th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Wednesday, July 15th. Abbott Laboratories's payout ratio is presently 70.59%.

Wall Street Analyst Weigh In

ABT has been the topic of a number of research analyst reports. UBS Group lowered their price target on Abbott Laboratories from $158.00 to $135.00 and set a "buy" rating on the stock in a report on Monday, April 20th. Mizuho reduced their price target on shares of Abbott Laboratories from $125.00 to $115.00 and set a "neutral" rating for the company in a research note on Friday, April 17th. Citigroup lowered their price objective on shares of Abbott Laboratories from $136.00 to $108.00 and set a "buy" rating on the stock in a research note on Friday, April 17th. The Goldman Sachs Group dropped their target price on Abbott Laboratories from $121.00 to $113.00 and set a "buy" rating on the stock in a report on Wednesday, May 27th. Finally, Stifel Nicolaus decreased their price target on Abbott Laboratories from $145.00 to $120.00 and set a "buy" rating for the company in a research note on Friday, April 17th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, Abbott Laboratories has an average rating of "Moderate Buy" and a consensus target price of $117.61.

Insiders Place Their Bets

In other news, CFO Philip P. Boudreau acquired 2,200 shares of the firm's stock in a transaction that occurred on Thursday, April 23rd. The stock was acquired at an average cost of $91.50 per share, with a total value of $201,300.00. Following the acquisition, the chief financial officer owned 2,200 shares in the company, valued at approximately $201,300. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel J. Starks purchased 10,000 shares of the stock in a transaction dated Monday, April 27th. The stock was acquired at an average cost of $92.65 per share, for a total transaction of $926,500.00. Following the completion of the transaction, the director owned 6,751,103 shares of the company's stock, valued at $625,489,692.95. The trade was a 0.15% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.46% of the company's stock.

Abbott Laboratories Company Profile

Abbott Laboratories is a global healthcare company headquartered in Abbott Park, Illinois, that develops, manufactures and markets a broad portfolio of medical products and services. Founded in 1888, Abbott operates through multiple business areas that focus on diagnostics, medical devices, nutritionals and established pharmaceuticals. The company supplies hospitals, clinics, laboratories, retailers and direct-to-consumer channels with products intended to diagnose, treat and manage a wide range of health conditions.

In diagnostics, Abbott provides laboratory and point-of-care testing platforms and assays used to detect infectious diseases, chronic conditions and biomarkers; its Alinity family of instruments and rapid-test solutions are examples of this capability.

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