Bailard Inc. Acquires 11,629 Shares of Abbott Laboratories (NYSE:ABT)

Bailard Inc. lifted its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 15.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 88,074 shares of the healthcare product maker's stock after acquiring an additional 11,629 shares during the quarter. Bailard Inc.'s holdings in Abbott Laboratories were worth $11,683,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ABT. Redwood Park Advisors LLC bought a new position in shares of Abbott Laboratories during the 4th quarter valued at approximately $25,000. Hughes Financial Services LLC purchased a new position in Abbott Laboratories in the 1st quarter worth approximately $27,000. WealthTrak Capital Management LLC purchased a new position in Abbott Laboratories in the 4th quarter worth approximately $28,000. Abound Financial LLC purchased a new position in Abbott Laboratories in the 1st quarter worth approximately $28,000. Finally, Wormser Freres Gestion purchased a new position in Abbott Laboratories in the 4th quarter worth approximately $32,000. 75.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on ABT shares. Leerink Partnrs raised Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. BTIG Research lowered their price target on Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating on the stock in a report on Friday. Morgan Stanley boosted their price target on Abbott Laboratories from $127.00 to $137.00 and gave the stock an "equal weight" rating in a report on Tuesday. Leerink Partners started coverage on Abbott Laboratories in a report on Monday, June 16th. They set a "market perform" rating and a $143.00 price objective on the stock. 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 report on Thursday, April 17th. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $144.47.

Abbott Laboratories Trading Up 2.7%

NYSE:ABT traded up $3.30 during midday trading on Friday, hitting $123.81. 19,570,335 shares of the company traded hands, compared to its average volume of 6,275,090. The firm's fifty day moving average is $133.17 and its 200-day moving average is $129.38. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $141.23. The firm has a market capitalization of $215.41 billion, a P/E ratio of 16.06, a P/E/G ratio of 2.50 and a beta of 0.73. The company has a current ratio of 1.78, a quick ratio of 1.27 and a debt-to-equity ratio of 0.26.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, meeting the consensus estimate of $1.26. Abbott Laboratories had a return on equity of 19.01% and a net margin of 31.89%. The company had revenue of $11.14 billion for the quarter, compared to analyst estimates of $11.01 billion. During the same quarter in the prior year, the firm posted $1.14 EPS. Abbott Laboratories's quarterly revenue was up 7.4% compared to the same quarter last year. On average, sell-side analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend is Tuesday, July 15th. Abbott Laboratories's dividend payout ratio (DPR) is presently 30.61%.

Insider Buying and Selling

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the company's stock in a transaction 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 transaction, the director owned 34,058 shares of the company's stock, valued at $4,415,960.28. This represents a 7.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.46% of the stock is owned by company insiders.

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.