Oppenheimer Asset Management Inc. Increases Stock Position in Abbott Laboratories (NYSE:ABT)

Oppenheimer Asset Management Inc. raised its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 5.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 253,521 shares of the healthcare product maker's stock after buying an additional 14,126 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Abbott Laboratories were worth $33,630,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in ABT. Redwood Park Advisors LLC bought a new position in shares of Abbott Laboratories during the fourth quarter valued at about $25,000. Noble Wealth Management PBC bought a new position in shares of Abbott Laboratories during the fourth quarter valued at about $26,000. NewSquare Capital LLC lifted its position in shares of Abbott Laboratories by 78.4% during the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker's stock valued at $27,000 after purchasing an additional 105 shares in the last quarter. WealthTrak Capital Management LLC bought a new position in shares of Abbott Laboratories during the fourth quarter valued at about $28,000. Finally, Rialto Wealth Management LLC bought a new position in shares of Abbott Laboratories during the fourth quarter valued at about $29,000. 75.18% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on ABT shares. Piper Sandler reissued an "overweight" rating and set a $145.00 price target (up from $133.00) on shares of Abbott Laboratories in a research report on Thursday, April 17th. Jefferies Financial Group raised 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. Bank of America raised 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. Citigroup raised their price objective on shares of Abbott Laboratories from $135.00 to $160.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Finally, Wells Fargo & Company raised their price objective on shares of Abbott Laboratories from $136.00 to $147.00 and gave the stock an "overweight" 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's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $142.61.

Abbott Laboratories Price Performance

Shares of NYSE:ABT traded up $4.87 during trading on Tuesday, reaching $138.13. The company had a trading volume of 9,894,700 shares, compared to its average volume of 6,117,554. The company has a fifty day moving average of $132.54 and a two-hundred day moving average of $127.23. The stock has a market capitalization of $240.32 billion, a P/E ratio of 17.92, a price-to-earnings-growth ratio of 2.53 and a beta of 0.73. Abbott Laboratories has a 12 month low of $99.71 and a 12 month 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.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.02. The firm had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.38 billion. Abbott Laboratories had a net margin of 31.89% and a return on equity of 19.01%. Equities research analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Tuesday, July 15th. Abbott Laboratories's payout ratio is 30.61%.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total transaction of $337,116.00. Following the completion of the sale, the director now owns 34,058 shares of the company's stock, valued at $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 available at the SEC website. 0.46% of the stock is owned by 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.