Harbour Investments Inc. Increases Stake in Abbott Laboratories (NYSE:ABT)

Key Points

• Harbour Investments Inc. increased its stake in Abbott Laboratories by 15.7% during the first quarter, holding a total of 27,063 shares valued at approximately $3.59 million.
• Abbott Laboratories reported an EPS of $1.26 for the last quarter, meeting analysts' expectations, with revenues of $11.14 billion, up by 7.4% year-over-year.
• The company declared a quarterly dividend of $0.59 per share, representing a 1.9% dividend yield, with an upcoming payment date of August 15th.

Harbour Investments Inc. grew its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 15.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,063 shares of the healthcare product maker's stock after buying an additional 3,667 shares during the quarter. Harbour Investments Inc.'s holdings in Abbott Laboratories were worth $3,590,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC increased its holdings in shares of Abbott Laboratories by 10.1% in the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker's stock valued at $5,850,000 after acquiring an additional 4,755 shares during the period. Bank Pictet & Cie Europe AG boosted its position in shares of Abbott Laboratories by 1.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock worth $17,274,000 after purchasing an additional 2,774 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Abbott Laboratories in the 4th quarter worth $110,000. OneAscent Financial Services LLC boosted its position in shares of Abbott Laboratories by 49.7% in the 4th quarter. OneAscent Financial Services LLC now owns 6,824 shares of the healthcare product maker's stock worth $772,000 after purchasing an additional 2,267 shares in the last quarter. Finally, Nicolet Advisory Services LLC boosted its position in shares of Abbott Laboratories by 0.7% in the 4th quarter. Nicolet Advisory Services LLC now owns 33,004 shares of the healthcare product maker's stock worth $3,707,000 after purchasing an additional 236 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on ABT. Leerink Partners initiated coverage on Abbott Laboratories in a research note on Monday, June 16th. They set a "market perform" rating and a $143.00 price objective for the company. Piper Sandler reissued an "overweight" rating and issued a $145.00 target price (up previously from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. Evercore ISI increased their target price on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Mizuho raised their price objective on shares of Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Finally, Wells Fargo & Company dropped their target price on shares of Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating for the company in a report on Friday, July 18th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $144.47.

Abbott Laboratories Trading Up 0.4%

Abbott Laboratories stock traded up $0.51 during midday trading on Tuesday, hitting $130.44. 2,907,922 shares of the stock were exchanged, compared to its average volume of 6,911,960. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. Abbott Laboratories has a 52 week low of $107.11 and a 52 week high of $141.23. The stock has a market capitalization of $226.94 billion, a PE ratio of 16.33, a P/E/G ratio of 2.41 and a beta of 0.70. The company has a fifty day simple moving average of $131.76 and a two-hundred day simple moving average of $130.72.

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

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $2.36 annualized dividend and a yield of 1.8%. Abbott Laboratories's dividend payout ratio (DPR) is currently 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.