Abbott Laboratories (NYSE:ABT) Shares Acquired by Amalgamated Bank

Amalgamated Bank raised its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 1.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 340,714 shares of the healthcare product maker's stock after buying an additional 3,877 shares during the period. Amalgamated Bank's holdings in Abbott Laboratories were worth $45,196,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ABT. Redwood Park Advisors LLC purchased a new stake in Abbott Laboratories in the fourth quarter worth $25,000. Noble Wealth Management PBC purchased a new stake in Abbott Laboratories in the fourth quarter worth $26,000. NewSquare Capital LLC increased its stake in Abbott Laboratories by 78.4% in the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker's stock worth $27,000 after purchasing an additional 105 shares during the period. JCIC Asset Management Inc. purchased a new stake in Abbott Laboratories in the first quarter worth $32,000. Finally, WealthTrak Capital Management LLC purchased a new stake in Abbott Laboratories in the fourth quarter worth $28,000. Hedge funds and other institutional investors own 75.18% of the company's stock.

Insider Transactions at Abbott Laboratories

In other news, Director Sally E. Blount sold 2,600 shares of the stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total value 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.46% of the stock is owned by company insiders.

Abbott Laboratories Trading Down 1.3%

NYSE:ABT traded down $1.74 on Wednesday, reaching $134.52. 2,015,175 shares of the company's stock were exchanged, compared to its average volume of 6,792,824. The company has a quick ratio of 1.27, a current ratio of 1.78 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $234.04 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 2.58 and a beta of 0.73. The business has a fifty day moving average of $133.03 and a 200-day moving average of $127.97. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $141.23.

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

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend is Tuesday, July 15th. Abbott Laboratories's dividend payout ratio (DPR) is 30.61%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ABT. Barclays raised their price target on Abbott Laboratories from $158.00 to $159.00 and gave the company an "overweight" rating in a research note on Thursday, April 17th. Royal Bank Of Canada increased their target price on Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a research report on Thursday, April 17th. Leerink Partnrs raised Abbott Laboratories to a "hold" rating in a research report on Monday, June 16th. Citigroup lifted their target price on Abbott Laboratories from $135.00 to $160.00 and gave the company a "buy" rating in a research note on Tuesday, March 4th. Finally, Jefferies Financial Group lifted their target price on Abbott Laboratories from $135.00 to $137.00 and gave the company a "hold" rating in a research note on Thursday, April 17th. Six equities 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $142.61.

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.