Abbott Laboratories (NYSE:ABT) Shares Bought by LaFleur & Godfrey LLC

LaFleur & Godfrey LLC boosted its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 10.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 91,351 shares of the healthcare product maker's stock after acquiring an additional 8,908 shares during the quarter. Abbott Laboratories comprises 1.6% of LaFleur & Godfrey LLC's investment portfolio, making the stock its 22nd biggest holding. LaFleur & Godfrey LLC's holdings in Abbott Laboratories were worth $12,118,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Three Seasons Wealth LLC acquired a new stake in Abbott Laboratories during the 4th quarter worth approximately $1,428,000. Kelly Financial Services LLC acquired a new stake in Abbott Laboratories during the 1st quarter worth approximately $216,000. Voleon Capital Management LP acquired a new stake in Abbott Laboratories during the 4th quarter worth approximately $273,000. Bank Julius Baer & Co. Ltd Zurich lifted its position 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 worth $133,691,000 after acquiring an additional 57,499 shares during the period. Finally, Bank Pictet & Cie Europe AG lifted its position 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 worth $17,274,000 after acquiring an additional 2,774 shares during the period. 75.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ABT has been the subject of several recent analyst reports. Barclays raised their price target on Abbott Laboratories from $158.00 to $159.00 and gave the company an "overweight" rating in a report on Thursday, April 17th. Piper Sandler reissued an "overweight" rating and issued a $145.00 price target (up from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. 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. Leerink Partnrs raised Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. Finally, 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. Six investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $142.61.

Abbott Laboratories Stock Performance

Abbott Laboratories stock opened at $133.26 on Tuesday. 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 stock has a fifty day moving average of $132.30 and a two-hundred day moving average of $127.16. The company has a market capitalization of $231.85 billion, a price-to-earnings ratio of 17.28, a PEG ratio of 2.53 and a beta of 0.73. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.02. The company had revenue of $10.36 billion during 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%. On average, analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently declared 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. This represents a $2.36 annualized dividend and a yield of 1.77%. The ex-dividend date is Tuesday, July 15th. Abbott Laboratories's payout ratio is 30.61%.

Insiders Place Their Bets

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the firm's stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total transaction 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 trade represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.46% of the stock is currently owned by company 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.

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