Analyst IMS Investment Management Services Ltd. Acquires Shares of 6,006 Abbott Laboratories (NYSE:ABT)

Analyst IMS Investment Management Services Ltd. purchased a new position in shares of Abbott Laboratories (NYSE:ABT - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 6,006 shares of the healthcare product maker's stock, valued at approximately $797,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kingswood Wealth Advisors LLC increased its position in Abbott Laboratories by 161.0% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 27,682 shares of the healthcare product maker's stock valued at $3,653,000 after acquiring an additional 17,074 shares during the period. Accelerate Investment Advisors LLC purchased a new stake in shares of Abbott Laboratories during the first quarter worth approximately $219,000. Puzo Michael J lifted its holdings in shares of Abbott Laboratories by 0.4% during the first quarter. Puzo Michael J now owns 98,944 shares of the healthcare product maker's stock worth $13,125,000 after purchasing an additional 375 shares during the period. Broderick Brian C grew its position in Abbott Laboratories by 0.4% in the 1st quarter. Broderick Brian C now owns 126,566 shares of the healthcare product maker's stock valued at $16,789,000 after buying an additional 480 shares during the last quarter. Finally, Wolf Group Capital Advisors acquired a new position in Abbott Laboratories in the 1st quarter valued at $405,000. Hedge funds and other institutional investors own 75.18% of the company's stock.

Abbott Laboratories Trading Up 0.1%

Shares of ABT traded up $0.07 during trading hours on Thursday, hitting $132.35. The stock had a trading volume of 4,950,337 shares, compared to its average volume of 6,109,757. The company's fifty day simple moving average is $132.07 and its 200 day simple moving average is $126.76. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $141.23. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.27 and a current ratio of 1.78. The firm has a market cap of $230.27 billion, a P/E ratio of 17.17, a P/E/G ratio of 2.51 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.02. The business had revenue of $10.36 billion for 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 forecast that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors 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 dividend yield of 1.78%. Abbott Laboratories's payout ratio is 30.61%.

Insider Buying and Selling

In other Abbott Laboratories 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 value of $337,116.00. Following the transaction, the director now directly owns 34,058 shares of the company's stock, valued at $4,415,960.28. This trade represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.46% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Piper Sandler reaffirmed an "overweight" rating and issued a $145.00 target price (up previously from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. Wells Fargo & Company boosted their price objective on shares of Abbott Laboratories from $136.00 to $147.00 and gave the stock an "overweight" rating in a report on Thursday, April 17th. The Goldman Sachs Group lifted their price objective on Abbott Laboratories from $138.00 to $154.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Leerink Partners started coverage on Abbott Laboratories in a report on Monday. They issued a "market perform" rating and a $143.00 target price on the stock. Finally, Barclays lifted their price target on Abbott Laboratories from $158.00 to $159.00 and gave the stock an "overweight" rating in a research note on Thursday, April 17th. Six analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Abbott Laboratories has a consensus rating of "Moderate Buy" and an average target price of $142.61.

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.