USA Financial Formulas Increases Stock Position in Abbott Laboratories (NYSE:ABT)

USA Financial Formulas increased its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 191.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,251 shares of the healthcare product maker's stock after buying an additional 7,396 shares during the period. Abbott Laboratories accounts for 0.2% of USA Financial Formulas' portfolio, making the stock its 25th largest position. USA Financial Formulas' holdings in Abbott Laboratories were worth $1,492,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of ABT. Three Seasons Wealth LLC purchased a new position in shares of Abbott Laboratories during the fourth quarter valued at approximately $1,428,000. Voleon Capital Management LP purchased a new position in shares of Abbott Laboratories during the fourth quarter valued at approximately $273,000. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of Abbott Laboratories by 5.5% during the fourth 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 purchasing an additional 57,499 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its holdings in shares of Abbott Laboratories by 1.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock valued at $17,274,000 after purchasing an additional 2,774 shares during the last quarter. Finally, DSM Capital Partners LLC lifted its holdings in shares of Abbott Laboratories by 75.6% during the fourth quarter. DSM Capital Partners LLC now owns 859,404 shares of the healthcare product maker's stock valued at $97,207,000 after purchasing an additional 370,049 shares during the last quarter. 75.18% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group lifted their target price on shares of Abbott Laboratories from $138.00 to $154.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Bank of America boosted their price objective on shares of Abbott Laboratories from $133.00 to $150.00 and gave the stock a "buy" rating in a report on Monday, March 10th. Raymond James boosted their price objective on shares of Abbott Laboratories from $132.00 to $142.00 and gave the stock an "outperform" rating in a report on Thursday, April 17th. Piper Sandler restated an "overweight" rating and issued a $145.00 price objective (up from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. Finally, Jefferies Financial Group boosted their price objective on shares of Abbott Laboratories from $135.00 to $137.00 and gave the stock a "hold" rating in a report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $142.59.

Insider Buying and Selling

In related news, Director Sally E. Blount sold 2,600 shares of the company's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total value of $337,116.00. Following the completion of the transaction, the director now owns 34,058 shares of the company's stock, valued at approximately $4,415,960.28. This represents a 7.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.46% of the stock is currently owned by insiders.

Abbott Laboratories Stock Performance

Shares of ABT stock traded down $1.04 during mid-day trading on Friday, reaching $135.41. 3,927,244 shares of the company's stock traded hands, compared to its average volume of 6,107,754. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $141.23. The firm has a 50 day moving average price of $131.50 and a two-hundred day moving average price of $126.42. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The firm has a market capitalization of $235.59 billion, a PE ratio of 17.70, a price-to-earnings-growth ratio of 2.52 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.02. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The firm had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.38 billion. On average, research analysts forecast that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.74%. Abbott Laboratories's dividend payout ratio is currently 30.61%.

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.