Brookwood Investment Group LLC Invests $411,000 in Abbott Laboratories (NYSE:ABT)

Key Points

• Brookwood Investment Group LLC has acquired 3,096 shares of Abbott Laboratories, valued at approximately $411,000, during the first quarter.
• Institutional investors now own 75.18% of Abbott's stock, with various hedge funds modifying their holdings in recent months.
• Abbott Laboratories has received a "strong-buy" rating from William Blair, with a consensus price target of $144.47 from analysts.

Brookwood Investment Group LLC purchased a new position in Abbott Laboratories (NYSE:ABT - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 3,096 shares of the healthcare product maker's stock, valued at approximately $411,000.

Several other institutional investors also recently modified their holdings of ABT. ANTIPODES PARTNERS Ltd purchased a new stake in shares of Abbott Laboratories during the 1st quarter valued at about $168,000. Atria Investments Inc raised its position in shares of Abbott Laboratories by 1.5% during the first quarter. Atria Investments Inc now owns 170,084 shares of the healthcare product maker's stock valued at $22,562,000 after buying an additional 2,577 shares during the last quarter. Davis Rea LTD. bought a new stake in shares of Abbott Laboratories during the first quarter valued at approximately $5,093,000. Sunbeam Capital Management LLC bought a new stake in shares of Abbott Laboratories during the first quarter valued at approximately $227,000. Finally, One Wealth Advisors LLC raised its position in shares of Abbott Laboratories by 29.5% during the first quarter. One Wealth Advisors LLC now owns 4,398 shares of the healthcare product maker's stock valued at $583,000 after buying an additional 1,002 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Stock Performance

NYSE:ABT traded up $0.65 during midday trading on Tuesday, hitting $127.00. The company's stock had a trading volume of 1,864,437 shares, compared to its average volume of 6,942,288. The firm has a market cap of $220.96 billion, a P/E ratio of 15.90, a P/E/G ratio of 2.40 and a beta of 0.73. Abbott Laboratories has a fifty-two week low of $102.78 and a fifty-two week high of $141.23. The firm's 50 day moving average is $132.20 and its 200-day moving average is $130.19. 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 issued its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, hitting analysts' consensus estimates of $1.26. The business had revenue of $11.14 billion for the quarter, compared to analysts' expectations of $11.01 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.83%. The business's revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the company earned $1.14 EPS. Equities analysts anticipate that Abbott Laboratories will post 5.14 earnings per share 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. Stockholders of record on Tuesday, July 15th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.86%. Abbott Laboratories's dividend payout ratio (DPR) is 29.57%.

Analysts Set New Price Targets

ABT has been the topic of several recent analyst reports. Leerink Partners began coverage on shares of Abbott Laboratories in a research report on Monday, June 16th. They set a "market perform" rating and a $143.00 price objective on the stock. Raymond James Financial reduced their price target on shares of Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating on the stock in a research report on Friday, July 18th. Wells Fargo & Company lowered their target price on shares of Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating for the company in a research note on Friday, July 18th. Barclays boosted their target price on shares of Abbott Laboratories from $158.00 to $159.00 and gave the company an "overweight" rating in a research note on Thursday, April 17th. Finally, Morgan Stanley upped their price objective on shares of Abbott Laboratories from $127.00 to $137.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $144.47.

Insider Activity

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 transaction of $337,116.00. Following the transaction, the director owned 34,058 shares in the company, valued at $4,415,960.28. This trade represents a 7.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.46% of the stock is owned by company insiders.

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.