Concurrent Investment Advisors LLC Raises Position in Abbott Laboratories (NYSE:ABT)

Concurrent Investment Advisors LLC increased its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 19.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,709 shares of the healthcare product maker's stock after purchasing an additional 9,998 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Abbott Laboratories were worth $8,053,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Three Seasons Wealth LLC purchased a new stake in shares of Abbott Laboratories during the fourth quarter worth about $1,428,000. Kelly Financial Services LLC purchased a new position in Abbott Laboratories during the 1st quarter valued at approximately $216,000. Voleon Capital Management LP purchased a new position in Abbott Laboratories during the 4th quarter valued at approximately $273,000. Bank Julius Baer & Co. Ltd Zurich grew its holdings in Abbott Laboratories by 5.5% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,095,443 shares of the healthcare product maker's stock valued at $133,691,000 after buying an additional 57,499 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG grew its holdings in Abbott Laboratories by 1.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock valued at $17,274,000 after buying an additional 2,774 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on ABT shares. Leerink Partnrs upgraded Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. Raymond James Financial raised their price target on Abbott Laboratories from $132.00 to $142.00 and gave the company an "outperform" rating in a report on Thursday, April 17th. Jefferies Financial Group raised their price target on Abbott Laboratories from $135.00 to $137.00 and gave the company a "hold" rating in a report on Thursday, April 17th. Wells Fargo & Company raised their price objective on Abbott Laboratories from $136.00 to $147.00 and gave the company an "overweight" rating in a research note on Thursday, April 17th. Finally, Morgan Stanley raised their price objective on Abbott Laboratories from $117.00 to $127.00 and gave the company an "equal weight" rating in a research note on Thursday, April 17th. Six research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $142.61.

Abbott Laboratories Trading Down 0.3%

Shares of ABT stock traded down $0.42 on Friday, reaching $133.70. 3,114,335 shares of the company's stock were exchanged, compared to its average volume of 6,156,602. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $141.23. The company has a current ratio of 1.78, a quick ratio of 1.27 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $232.61 billion, a PE ratio of 28.13, a P/E/G ratio of 2.55 and a beta of 0.73. The company's fifty day simple moving average is $133.29 and its 200 day simple moving average is $128.30.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, topping the consensus estimate of $1.07 by $0.02. The company had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.38 billion. Abbott Laboratories had a return on equity of 19.01% and a net margin of 31.89%. As a group, analysts forecast that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Sally E. Blount sold 2,600 shares of Abbott Laboratories stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total value of $337,116.00. Following the transaction, the director directly owned 34,058 shares in the company, valued at approximately $4,415,960.28. This trade represents a 7.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.46% of the stock is currently owned by corporate insiders.

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.