88,645 Shares in Abbott Laboratories (NYSE:ABT) Bought by Banque Cantonale Vaudoise

Key Points

• Banque Cantonale Vaudoise has acquired a new stake in Abbott Laboratories, purchasing 88,645 shares valued at approximately $11.76 million, making it the 29th largest holding in their portfolio.
• Analysts have varied opinions on Abbott Laboratories with a consensus rating of "Moderate Buy" and an average target price of $144.47, reflecting confidence in the company's performance.
• Abbott's quarterly earnings showed 7.4% revenue growth year-over-year, posting $11.14 billion in revenue and matching the consensus EPS estimate of $1.26.

Banque Cantonale Vaudoise purchased a new stake in Abbott Laboratories (NYSE:ABT - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 88,645 shares of the healthcare product maker's stock, valued at approximately $11,759,000. Abbott Laboratories accounts for about 0.5% of Banque Cantonale Vaudoise's portfolio, making the stock its 29th largest position.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Premier Fund Managers Ltd purchased a new stake in Abbott Laboratories during the first quarter worth about $8,503,000. Geneos Wealth Management Inc. increased its stake in Abbott Laboratories by 92.7% during the first quarter. Geneos Wealth Management Inc. now owns 23,199 shares of the healthcare product maker's stock worth $3,077,000 after purchasing an additional 11,157 shares during the period. N.E.W. Advisory Services LLC increased its stake in Abbott Laboratories by 26.1% during the first quarter. N.E.W. Advisory Services LLC now owns 2,229 shares of the healthcare product maker's stock worth $296,000 after purchasing an additional 461 shares during the period. Kirtland Hills Capital Management LLC increased its stake in Abbott Laboratories by 8.3% during the first quarter. Kirtland Hills Capital Management LLC now owns 4,633 shares of the healthcare product maker's stock worth $607,000 after purchasing an additional 357 shares during the period. Finally, Meeder Advisory Services Inc. increased its stake in Abbott Laboratories by 11.3% during the first quarter. Meeder Advisory Services Inc. now owns 30,943 shares of the healthcare product maker's stock worth $4,105,000 after purchasing an additional 3,149 shares during the period. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Performance

Shares of ABT stock traded up $1.09 during trading hours on Friday, hitting $127.28. The stock had a trading volume of 3,257,262 shares, compared to its average volume of 6,931,317. The firm has a market capitalization of $221.45 billion, a PE ratio of 15.99, a PEG ratio of 2.44 and a beta of 0.73. Abbott Laboratories has a twelve month low of $107.11 and a twelve month high of $141.23. The stock's 50 day moving average is $131.86 and its 200 day moving average is $130.26. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.78 and a quick ratio of 1.27.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, meeting the consensus estimate of $1.26. The business had revenue of $11.14 billion during the quarter, compared to the consensus estimate of $11.01 billion. Abbott Laboratories had a return on equity of 18.83% and a net margin of 32.43%. The company's revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.14 earnings per share. As a group, research analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business 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 dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.9%. Abbott Laboratories's dividend payout ratio (DPR) is currently 29.57%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ABT shares. Stifel Nicolaus boosted their price target on shares of Abbott Laboratories from $135.00 to $145.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Raymond James Financial cut their target price on shares of Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating on the stock in a research note on Friday, July 18th. Barclays upped their target price on shares of Abbott Laboratories from $158.00 to $159.00 and gave the stock an "overweight" rating in a research note on Thursday, April 17th. Jefferies Financial Group upgraded shares of Abbott Laboratories from a "hold" rating to a "buy" rating and upped their target price for the stock from $143.00 to $145.00 in a research note on Friday, July 18th. Finally, Evercore ISI upped their target price on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $144.47.

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.