Roberts Glore & Co. Inc. IL Has $6.98 Million Stake in Abbott Laboratories (NYSE:ABT)

Key Points

• Roberts Glore & Co. Inc. has reduced its holdings in Abbott Laboratories by 7.6%, now owning 52,591 shares, which represent about 2.1% of its investment portfolio.
• Analysts are mixed on Abbott Laboratories, with price targets ranging from $141.00 to $159.00, and the stock currently holds an average rating of "Moderate Buy".
• Abbott Laboratories recently reported earnings of $1.26 per share, meeting analysts' expectations, and declared a quarterly dividend of $0.59 per share, yielding 1.8% annually.

Roberts Glore & Co. Inc. IL trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 7.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 52,591 shares of the healthcare product maker's stock after selling 4,315 shares during the period. Abbott Laboratories makes up 2.1% of Roberts Glore & Co. Inc. IL's investment portfolio, making the stock its 9th largest holding. Roberts Glore & Co. Inc. IL's holdings in Abbott Laboratories were worth $6,976,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Three Seasons Wealth LLC bought a new stake in shares of Abbott Laboratories during the fourth quarter valued at approximately $1,428,000. Kelly Financial Services LLC acquired a new stake in Abbott Laboratories in the 1st quarter valued at $216,000. Voleon Capital Management LP bought a new stake in Abbott Laboratories during the 4th quarter valued at $273,000. Bank Pictet & Cie Europe AG raised its holdings 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 worth $17,274,000 after buying an additional 2,774 shares during the last quarter. Finally, Edge Financial Advisors LLC lifted its stake in shares of Abbott Laboratories by 3.3% in the first quarter. Edge Financial Advisors LLC now owns 2,530 shares of the healthcare product maker's stock valued at $336,000 after buying an additional 81 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company's stock.

Abbott Laboratories Stock Performance

ABT traded up $2.35 during trading on Friday, hitting $134.41. 4,985,430 shares of the company traded hands, compared to its average volume of 7,868,751. The firm has a market cap of $233.93 billion, a P/E ratio of 16.84, a price-to-earnings-growth ratio of 2.50 and a beta of 0.70. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. Abbott Laboratories has a one year low of $107.11 and a one year high of $141.23. The stock's fifty day moving average is $131.68 and its 200 day moving average is $130.85.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.26. The company had revenue of $11.14 billion during the quarter, compared to analyst estimates of $11.01 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. Abbott Laboratories's quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.14 EPS. As a group, equities analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company 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 1.8%. The ex-dividend date of this dividend is Tuesday, July 15th. Abbott Laboratories's dividend payout ratio is currently 29.57%.

Analysts Set New Price Targets

Several research firms have recently commented on ABT. Jefferies Financial Group raised shares of Abbott Laboratories from a "hold" rating to a "buy" rating and boosted their target price for the stock from $143.00 to $145.00 in a research report on Friday, July 18th. William Blair raised Abbott Laboratories to a "strong-buy" rating in a report on Thursday, July 17th. Mizuho increased their price objective on Abbott Laboratories from $130.00 to $140.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Evercore ISI lifted their target price on Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Finally, Royal Bank Of Canada increased their price target on Abbott Laboratories from $145.00 to $147.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Four research 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. Based on data from MarketBeat.com, Abbott Laboratories 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.