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

Allworth Financial LP lifted its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 1.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 251,786 shares of the healthcare product maker's stock after buying an additional 2,969 shares during the period. Allworth Financial LP's holdings in Abbott Laboratories were worth $32,576,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Three Seasons Wealth LLC acquired a new position in Abbott Laboratories during the 4th quarter valued at about $1,428,000. Kelly Financial Services LLC acquired a new position in Abbott Laboratories during the 1st quarter valued at about $216,000. Voleon Capital Management LP acquired a new stake in shares of Abbott Laboratories in the fourth quarter valued at $273,000. Bank Pictet & Cie Europe AG lifted its holdings in shares of Abbott Laboratories by 1.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock valued at $17,274,000 after buying an additional 2,774 shares during the period. Finally, Edge Financial Advisors LLC lifted its holdings 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 during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Stock Down 1.1%

ABT stock traded down $1.51 during midday trading on Friday, reaching $132.09. The company had a trading volume of 2,533,077 shares, compared to its average volume of 6,141,012. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23. 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 company has a market capitalization of $229.81 billion, a P/E ratio of 17.13, a PEG ratio of 2.53 and a beta of 0.73. The company has a 50 day moving average of $133.54 and a two-hundred day moving average of $128.86.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings results 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. The business had revenue of $10.36 billion during the quarter, compared to analysts' expectations of $10.38 billion. Abbott Laboratories had a return on equity of 19.01% and a net margin of 31.89%. On average, equities research analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently announced 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. The ex-dividend date is Tuesday, July 15th. This represents a $2.36 annualized dividend and a yield of 1.79%. Abbott Laboratories's dividend payout ratio (DPR) is currently 30.61%.

Wall Street Analyst Weigh In

ABT has been the subject of several research analyst reports. Wells Fargo & Company upped their price objective on Abbott Laboratories from $136.00 to $147.00 and gave the company an "overweight" rating in a report on Thursday, April 17th. Stifel Nicolaus lifted their price target 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. Royal Bank Of Canada lifted their price target on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a research report on Thursday, April 17th. Barclays lifted their price target on shares of Abbott Laboratories from $158.00 to $159.00 and gave the stock an "overweight" rating in a research report on Thursday, April 17th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $145.00 price objective (up from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. Six research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Abbott Laboratories presently has a consensus rating of "Moderate Buy" and an average target price of $143.11.

Insiders Place Their Bets

In related news, Director Sally E. Blount sold 2,600 shares of the company's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total transaction of $337,116.00. Following the completion of the sale, the director directly owned 34,058 shares of the company's stock, valued at approximately $4,415,960.28. This represents a 7.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.46% of the stock is currently owned by company insiders.

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.