UNIVEST FINANCIAL Corp Has $2.84 Million Stake in Abbott Laboratories (NYSE:ABT)

Key Points

• UNIVEST FINANCIAL Corp reduced its holdings in Abbott Laboratories by 25%, owning 21,420 shares valued at approximately $2.84 million by the end of the latest reporting period.
• Abbott Laboratories reported Q2 earnings of $1.26 EPS, meeting analysts' expectations, with revenue of $11.14 billion, which was above forecasts.
• The company announced a quarterly dividend of $0.59, equating to a 1.9% yield, with the ex-dividend date set for July 15th.

UNIVEST FINANCIAL Corp decreased its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 25.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,420 shares of the healthcare product maker's stock after selling 7,153 shares during the quarter. UNIVEST FINANCIAL Corp's holdings in Abbott Laboratories were worth $2,841,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC increased its stake in shares of Abbott Laboratories by 10.1% during the fourth quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker's stock valued at $5,850,000 after acquiring an additional 4,755 shares during the period. Bank Pictet & Cie Europe AG boosted its stake in Abbott Laboratories by 1.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock worth $17,274,000 after purchasing an additional 2,774 shares during the period. Headlands Technologies LLC acquired a new position in Abbott Laboratories in the 4th quarter worth approximately $110,000. OneAscent Financial Services LLC boosted its stake in Abbott Laboratories by 49.7% in the 4th quarter. OneAscent Financial Services LLC now owns 6,824 shares of the healthcare product maker's stock worth $772,000 after purchasing an additional 2,267 shares during the period. Finally, Nicolet Advisory Services LLC lifted its position in Abbott Laboratories by 0.7% in the 4th quarter. Nicolet Advisory Services LLC now owns 33,004 shares of the healthcare product maker's stock worth $3,707,000 after buying an additional 236 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company's stock.

Abbott Laboratories Trading Up 0.4%

Shares of ABT traded up $0.50 on Tuesday, reaching $130.43. 3,092,894 shares of the company's stock were exchanged, compared to its average volume of 6,913,533. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $226.93 billion, a P/E ratio of 16.33, a price-to-earnings-growth ratio of 2.41 and a beta of 0.70. The business has a 50 day moving average price of $131.76 and a two-hundred day moving average price of $130.72. Abbott Laboratories has a 12 month low of $107.11 and a 12 month high of $141.23.

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

Abbott Laboratories Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.8%. Abbott Laboratories's dividend payout ratio is currently 29.57%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus increased their target price on shares of Abbott Laboratories from $135.00 to $145.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Leerink Partners initiated coverage on shares of Abbott Laboratories in a report on Monday, June 16th. They issued a "market perform" rating and a $143.00 target price on the stock. Wells Fargo & Company decreased their price target on shares of Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating on the stock in a research report on Friday, July 18th. Mizuho raised their price target on shares of Abbott Laboratories from $130.00 to $140.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 16th. Finally, Jefferies Financial Group upgraded shares of Abbott Laboratories from a "hold" rating to a "buy" rating and lifted their target price for the company from $143.00 to $145.00 in a research report on Friday, July 18th. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price 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.