Freemont Management S.A. Boosts Holdings in Abbott Laboratories (NYSE:ABT)

Key Points

• Freemont Management S.A. increased its stake in Abbott Laboratories by 137% during Q1, holding 23,700 shares valued at $3.14 million.
• Abbott Laboratories declared a quarterly dividend of $0.59 per share, with an annualized yield of 1.88%.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Abbott Laboratories, with a price target of $144.47.

Freemont Management S.A. boosted its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 137.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 23,700 shares of the healthcare product maker's stock after buying an additional 13,700 shares during the period. Freemont Management S.A.'s holdings in Abbott Laboratories were worth $3,144,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Redwood Park Advisors LLC acquired a new position in shares of Abbott Laboratories during the 4th quarter worth approximately $25,000. Hughes Financial Services LLC acquired a new stake in shares of Abbott Laboratories during the 1st quarter worth approximately $27,000. WealthTrak Capital Management LLC acquired a new stake in shares of Abbott Laboratories during the 4th quarter worth approximately $28,000. Abound Financial LLC acquired a new stake in shares of Abbott Laboratories during the 1st quarter worth approximately $28,000. Finally, Wormser Freres Gestion acquired a new stake in shares of Abbott Laboratories during the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 75.18% of the company's stock.

Insider Activity at Abbott Laboratories

In related news, Director Sally E. Blount sold 2,600 shares of the company's stock in a transaction that occurred 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 sale, the director directly owned 34,058 shares in the company, 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 can be accessed through this hyperlink. Insiders own 0.46% of the company's stock.

Abbott Laboratories Stock Up 0.8%

ABT stock traded up $0.98 during trading on Tuesday, reaching $127.33. The stock had a trading volume of 2,015,872 shares, compared to its average volume of 6,944,551. Abbott Laboratories has a one year low of $102.78 and a one year high of $141.23. The company has a quick ratio of 1.27, a current ratio of 1.78 and a debt-to-equity ratio of 0.26. The company's 50 day moving average is $132.20 and its two-hundred day moving average is $130.19. The company has a market capitalization of $221.54 billion, a price-to-earnings ratio of 15.94, a P/E/G ratio of 2.40 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.26. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.83%. The business had revenue of $11.14 billion during the quarter, compared to the consensus estimate of $11.01 billion. During the same period in the prior year, the firm posted $1.14 EPS. The firm's quarterly revenue was up 7.4% compared to the same quarter last year. Equities research analysts forecast that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Tuesday, July 15th. Abbott Laboratories's payout ratio is currently 29.57%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ABT shares. Leerink Partners started coverage on shares of Abbott Laboratories in a research report on Monday, June 16th. They set a "market perform" rating and a $143.00 price target on the stock. Raymond James Financial dropped their price objective on shares of Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating for the company in a research note on Friday, July 18th. Mizuho raised their price target on shares of Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Leerink Partnrs upgraded shares of Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. Finally, BTIG Research lowered their target price on shares of Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating for the company in a research note on Friday, July 18th. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $144.47.

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.