HB Wealth Management LLC Has $23.59 Million Stock Holdings in Abbott Laboratories (NYSE:ABT)

Key Points

• HB Wealth Management LLC has increased its stake in Abbott Laboratories by 56.9%, now holding over 177,000 shares valued at nearly $23.6 million.
• Abbott Laboratories reported earnings of $1.26 per share for the last quarter, matching analysts' expectations, and highlighted a 7.4% year-over-year revenue increase.
• The company has announced a quarterly dividend of $0.59 per share, translating to an annual yield of 1.87% and a payout ratio of 29.57%.

HB Wealth Management LLC lifted its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 56.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 177,811 shares of the healthcare product maker's stock after purchasing an additional 64,505 shares during the period. HB Wealth Management LLC's holdings in Abbott Laboratories were worth $23,587,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of ABT. Cim LLC grew its holdings in Abbott Laboratories by 0.4% in the 4th quarter. Cim LLC now owns 16,967 shares of the healthcare product maker's stock worth $1,919,000 after buying an additional 73 shares in the last quarter. Capital Square LLC boosted its stake in shares of Abbott Laboratories by 2.7% during the 4th quarter. Capital Square LLC now owns 2,941 shares of the healthcare product maker's stock worth $368,000 after acquiring an additional 77 shares in the last quarter. Consilium Wealth Advisory LLC lifted its stake in Abbott Laboratories by 2.1% during the first quarter. Consilium Wealth Advisory LLC now owns 3,822 shares of the healthcare product maker's stock valued at $507,000 after buying an additional 78 shares in the last quarter. Mayflower Financial Advisors LLC lifted its stake in Abbott Laboratories by 0.5% during the first quarter. Mayflower Financial Advisors LLC now owns 17,327 shares of the healthcare product maker's stock valued at $2,298,000 after buying an additional 78 shares in the last quarter. Finally, Opes Wealth Management LLC boosted its position in shares of Abbott Laboratories by 2.9% in the first quarter. Opes Wealth Management LLC now owns 2,854 shares of the healthcare product maker's stock worth $379,000 after buying an additional 80 shares during the period. Institutional investors and hedge funds own 75.18% of the company's stock.

Abbott Laboratories Stock Up 0.5%

Shares of ABT stock traded up $0.64 during trading hours on Wednesday, hitting $128.65. 1,851,845 shares of the company were exchanged, compared to its average volume of 6,935,061. The company has a market capitalization of $223.83 billion, a PE ratio of 16.12, a PEG ratio of 2.40 and a beta of 0.73. Abbott Laboratories has a 52 week low of $103.55 and a 52 week high of $141.23. The business has a 50 day moving average of $132.06 and a two-hundred day moving average of $130.18. 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 announced its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, meeting analysts' consensus estimates of $1.26. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.83%. The company had revenue of $11.14 billion during the quarter, compared to the consensus estimate of $11.01 billion. During the same quarter last year, the firm posted $1.14 EPS. The company's quarterly revenue was up 7.4% on a year-over-year basis. Analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders 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 yield of 1.83%. The ex-dividend date is Tuesday, July 15th. Abbott Laboratories's dividend payout ratio is currently 29.57%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. 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. Jefferies Financial Group upgraded shares of Abbott Laboratories from a "hold" rating to a "buy" rating and raised their price objective for the stock from $143.00 to $145.00 in a research note on Friday, July 18th. Raymond James Financial cut their price target on Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating for the company in a report on Friday, July 18th. Leerink Partnrs raised Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. Finally, William Blair raised shares of Abbott Laboratories to a "strong-buy" rating in a report on Thursday, July 17th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Abbott Laboratories has an average rating of "Moderate Buy" and a consensus price target of $144.47.

About Abbott Laboratories

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.