Abbott Laboratories (NYSE:ABT) Shares Purchased by Commonwealth Equity Services LLC

Key Points

• Commonwealth Equity Services LLC increased its holdings in Abbott Laboratories by 3.5%, owning approximately 893,801 shares valued at $118.56 million.
• Abbott Laboratories reported $1.26 earnings per share for the latest quarter, meeting analyst expectations, and showing a 7.4% revenue increase year-over-year.
• The company declared a quarterly dividend of $0.59 per share, with a dividend yield of 1.9% and a payout ratio of 29.57%.

Commonwealth Equity Services LLC boosted its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 3.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 893,801 shares of the healthcare product maker's stock after purchasing an additional 30,612 shares during the quarter. Commonwealth Equity Services LLC owned approximately 0.05% of Abbott Laboratories worth $118,563,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Three Seasons Wealth LLC purchased a new stake in Abbott Laboratories during the fourth quarter valued at about $1,428,000. Kelly Financial Services LLC purchased a new stake in Abbott Laboratories during the first quarter valued at about $216,000. Voleon Capital Management LP purchased a new stake in Abbott Laboratories during the fourth quarter valued at about $273,000. Bank Pictet & Cie Europe AG grew its position in 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 acquiring an additional 2,774 shares during the period. Finally, Edge Financial Advisors LLC grew its position in Abbott Laboratories by 3.3% during the first quarter. Edge Financial Advisors LLC now owns 2,530 shares of the healthcare product maker's stock valued at $336,000 after acquiring an additional 81 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Trading Up 0.9%

Shares of NYSE ABT opened at $127.32 on Friday. The stock's 50 day moving average price is $131.78 and its two-hundred day moving average price is $130.49. 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 $221.52 billion, a P/E ratio of 15.95, a PEG ratio of 2.41 and a beta of 0.70. The company has a quick ratio of 1.27, a current ratio of 1.82 and a debt-to-equity ratio of 0.25.

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

Abbott Laboratories Announces Dividend

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 given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Tuesday, July 15th. Abbott Laboratories's dividend payout ratio is presently 29.57%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ABT. Stifel Nicolaus boosted their price target on Abbott Laboratories from $135.00 to $145.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. BTIG Research lowered their price target on Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating for the company in a research report on Friday, July 18th. Jefferies Financial Group raised Abbott Laboratories from a "hold" rating to a "buy" rating and upped their target price for the stock from $143.00 to $145.00 in a research report on Friday, July 18th. Leerink Partners initiated coverage on Abbott Laboratories in a research report on Monday, June 16th. They issued a "market perform" rating and a $143.00 target price for the company. Finally, Evercore ISI upped their target price on Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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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