Brady Family Wealth LLC Has $7.61 Million Stock Position in Abbott Laboratories (NYSE:ABT)

Brady Family Wealth LLC reduced its position in Abbott Laboratories (NYSE:ABT - Free Report) by 3.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 57,351 shares of the healthcare product maker's stock after selling 2,094 shares during the period. Abbott Laboratories comprises approximately 2.4% of Brady Family Wealth LLC's holdings, making the stock its 9th largest position. Brady Family Wealth LLC's holdings in Abbott Laboratories were worth $7,608,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Tallon Kerry Patrick purchased a new stake in Abbott Laboratories during the 4th quarter valued at $200,000. LaFleur & Godfrey LLC raised its stake in Abbott Laboratories by 23.5% during the 4th quarter. LaFleur & Godfrey LLC now owns 82,443 shares of the healthcare product maker's stock valued at $9,325,000 after buying an additional 15,692 shares during the last quarter. Brighton Jones LLC raised its stake in Abbott Laboratories by 10.1% during the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker's stock valued at $5,850,000 after buying an additional 4,755 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new stake in Abbott Laboratories during the 4th quarter valued at $29,120,000. Finally, Van ECK Associates Corp raised its stake in Abbott Laboratories by 3.5% during the 4th quarter. Van ECK Associates Corp now owns 28,683 shares of the healthcare product maker's stock valued at $3,244,000 after buying an additional 957 shares during the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Price Performance

Abbott Laboratories stock traded up $0.47 during mid-day trading on Friday, hitting $132.88. The stock had a trading volume of 11,316,722 shares, compared to its average volume of 6,120,549. The firm has a market capitalization of $231.20 billion, a P/E ratio of 17.24, a P/E/G ratio of 2.51 and a beta of 0.73. The company has a current ratio of 1.78, a quick ratio of 1.27 and a debt-to-equity ratio of 0.26. The firm's 50 day moving average is $132.19 and its 200 day moving average is $126.88. Abbott Laboratories has a one year low of $99.71 and a one year high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, beating the consensus estimate of $1.07 by $0.02. Abbott Laboratories had a net margin of 31.89% and a return on equity of 19.01%. The business had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.38 billion. On average, sell-side analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business 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 dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Tuesday, July 15th. Abbott Laboratories's dividend payout ratio (DPR) is presently 30.61%.

Insider Buying and Selling at Abbott Laboratories

In related news, Director Sally E. Blount sold 2,600 shares of the stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total value 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Stifel Nicolaus boosted their target price on shares of Abbott Laboratories from $135.00 to $145.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. Jefferies Financial Group upped their price objective on Abbott Laboratories from $135.00 to $137.00 and gave the stock a "hold" rating in a research note on Thursday, April 17th. Royal Bank Of Canada upped their price objective on Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a research note on Thursday, April 17th. Citigroup upped their price objective on Abbott Laboratories from $135.00 to $160.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. Finally, Barclays upped their price objective on Abbott Laboratories from $158.00 to $159.00 and gave the stock an "overweight" rating in a research note on Thursday, April 17th. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $142.61.

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.