Allworth Financial LP Acquires 2,969 Shares of Abbott Laboratories (NYSE:ABT)

Allworth Financial LP lifted its position in Abbott Laboratories (NYSE:ABT - Free Report) by 1.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 251,786 shares of the healthcare product maker's stock after acquiring an additional 2,969 shares during the period. Allworth Financial LP's holdings in Abbott Laboratories were worth $32,576,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ABT. Redwood Park Advisors LLC bought a new position in shares of Abbott Laboratories in the 4th quarter worth approximately $25,000. WealthTrak Capital Management LLC purchased a new stake in Abbott Laboratories during the 4th quarter valued at $28,000. Abound Financial LLC bought a new position in shares of Abbott Laboratories during the 1st quarter valued at $28,000. Wormser Freres Gestion bought a new position in shares of Abbott Laboratories during the 4th quarter valued at $32,000. Finally, JCIC Asset Management Inc. bought a new position in shares of Abbott Laboratories during the 1st quarter valued at $32,000. Institutional investors own 75.18% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on ABT shares. Leerink Partnrs raised Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. Stifel Nicolaus raised their target price on Abbott Laboratories from $135.00 to $145.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Evercore ISI raised their target price on Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a report on Tuesday. Wells Fargo & Company raised their target price on Abbott Laboratories from $136.00 to $147.00 and gave the stock an "overweight" rating in a report on Thursday, April 17th. Finally, Jefferies Financial Group raised their target price on Abbott Laboratories from $135.00 to $137.00 and gave the stock a "hold" rating in a report on Thursday, April 17th. Six research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Abbott Laboratories has a consensus rating of "Moderate Buy" and an average price target of $143.11.

Insider Buying and Selling at Abbott Laboratories

In other news, Director Sally E. Blount sold 2,600 shares of the firm's stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total transaction of $337,116.00. Following the completion of the transaction, the director owned 34,058 shares in the company, valued at $4,415,960.28. This trade represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.46% of the stock is currently owned by insiders.

Abbott Laboratories Trading Up 0.0%

Shares of Abbott Laboratories stock opened at $133.41 on Thursday. The firm has a market cap of $232.11 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 2.53 and a beta of 0.73. The business has a 50-day moving average price of $133.49 and a 200-day moving average price of $128.72. The company has a quick ratio of 1.27, a current ratio of 1.78 and a debt-to-equity ratio of 0.26. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $141.23.

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

Abbott Laboratories Dividend Announcement

The company 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 is Tuesday, July 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.77%. Abbott Laboratories's payout ratio is 30.61%.

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.

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