Bryn Mawr Capital Management LLC Has $14.59 Million Stock Position in Abbott Laboratories (NYSE:ABT)

Bryn Mawr Capital Management LLC lifted its position in Abbott Laboratories (NYSE:ABT - Free Report) by 7.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,989 shares of the healthcare product maker's stock after purchasing an additional 7,680 shares during the quarter. Abbott Laboratories accounts for 0.9% of Bryn Mawr Capital Management LLC's portfolio, making the stock its 26th largest position. Bryn Mawr Capital Management LLC's holdings in Abbott Laboratories were worth $14,590,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Redwood Park Advisors LLC bought a new position in shares of Abbott Laboratories during the 4th quarter worth about $25,000. Hughes Financial Services LLC bought a new stake in Abbott Laboratories in the first quarter valued at about $27,000. WealthTrak Capital Management LLC acquired a new position in Abbott Laboratories in the fourth quarter worth about $28,000. Abound Financial LLC bought a new position in Abbott Laboratories during the first quarter worth about $28,000. Finally, Wormser Freres Gestion acquired a new stake in Abbott Laboratories during the fourth quarter valued at approximately $32,000. 75.18% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ABT shares. Barclays increased their target price on Abbott Laboratories from $158.00 to $159.00 and gave the stock an "overweight" rating in a report on Thursday, April 17th. Stifel Nicolaus increased their price objective on Abbott Laboratories from $135.00 to $145.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Leerink Partners assumed coverage on shares of Abbott Laboratories in a research note on Monday, June 16th. They issued a "market perform" rating and a $143.00 target price on the stock. Jefferies Financial Group upped their target price on shares of Abbott Laboratories from $135.00 to $137.00 and gave the stock a "hold" rating in a report on Thursday, April 17th. Finally, Raymond James Financial lifted their price target on shares of Abbott Laboratories from $132.00 to $142.00 and gave the company an "outperform" rating in a report on Thursday, April 17th. Six research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $144.33.

Insiders Place Their Bets

In other news, Director Sally E. Blount sold 2,600 shares of the company'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 completion of the sale, the director directly 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. Insiders own 0.46% of the company's stock.

Abbott Laboratories Trading Up 0.2%

Shares of NYSE ABT traded up $0.30 during midday trading on Wednesday, hitting $131.79. The stock had a trading volume of 9,888,911 shares, compared to its average volume of 6,165,421. The firm has a market cap of $229.30 billion, a P/E ratio of 17.09, a price-to-earnings-growth ratio of 2.50 and a beta of 0.73. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $141.23. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.78 and a quick ratio of 1.27. The company's 50-day simple moving average is $133.43 and its 200 day simple moving average is $129.32.

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

Abbott Laboratories Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Tuesday, July 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.79%. Abbott Laboratories's dividend payout ratio is presently 30.61%.

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.