Abbott Laboratories (NYSE:ABT) Shares Acquired by Howland Capital Management LLC

Key Points

• Howland Capital Management LLC increased its holdings in Abbott Laboratories by 38.1% during the first quarter, owning a total of 42,147 shares valued at approximately $5.59 million.
• Abbott Laboratories reported quarterly earnings of $1.26 per share, meeting analyst expectations, with revenue totaling $11.14 billion, marking a 7.4% year-over-year increase.
• The company announced a quarterly dividend of $0.59 per share, representing an annual yield of 1.9%, with a payout ratio of 29.57%.

Howland Capital Management LLC increased its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 38.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,147 shares of the healthcare product maker's stock after acquiring an additional 11,636 shares during the period. Howland Capital Management LLC's holdings in Abbott Laboratories were worth $5,591,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Redwood Park Advisors LLC bought a new stake in Abbott Laboratories during the fourth quarter worth approximately $25,000. Hughes Financial Services LLC acquired a new stake in shares of Abbott Laboratories during the 1st quarter valued at $27,000. Abound Financial LLC bought a new stake in shares of Abbott Laboratories during the 1st quarter worth $28,000. Wormser Freres Gestion acquired a new position in shares of Abbott Laboratories in the 4th quarter worth $32,000. Finally, JCIC Asset Management Inc. acquired a new stake in shares of Abbott Laboratories during the first quarter worth $32,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Price Performance

Shares of ABT opened at $126.16 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.27 and a current ratio of 1.78. The firm has a market cap of $219.50 billion, a PE ratio of 15.81, a PEG ratio of 2.44 and a beta of 0.73. The firm's 50 day moving average price is $131.86 and its 200 day moving average price is $130.26. Abbott Laboratories has a twelve month low of $103.55 and a twelve month high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, meeting analysts' consensus estimates of $1.26. The business had revenue of $11.14 billion for the quarter, compared to the consensus estimate of $11.01 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.83%. Abbott Laboratories's revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.14 EPS. As a group, research analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business 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 dividend yield of 1.9%. The ex-dividend date of this dividend is Tuesday, July 15th. Abbott Laboratories's dividend payout ratio (DPR) is presently 29.57%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Barclays increased their price target on Abbott Laboratories from $158.00 to $159.00 and gave the company an "overweight" rating in a research report on Thursday, April 17th. Wells Fargo & Company dropped their target price on shares of Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating on the stock in a research report on Friday, July 18th. Evercore ISI upped their price target on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Morgan Stanley raised their price objective on shares of Abbott Laboratories from $127.00 to $137.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Finally, Raymond James Financial reduced their target price on Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating for the company in a report on Friday, July 18th. 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 company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $144.47.

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.

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