Campbell Newman Asset Management Inc. Purchases 120,325 Shares of Abbott Laboratories (NYSE:ABT)

Campbell Newman Asset Management Inc. increased its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 99.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 241,828 shares of the healthcare product maker's stock after purchasing an additional 120,325 shares during the period. Abbott Laboratories accounts for approximately 2.7% of Campbell Newman Asset Management Inc.'s portfolio, making the stock its 14th largest position. Campbell Newman Asset Management Inc.'s holdings in Abbott Laboratories were worth $32,078,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ABT. Tallon Kerry Patrick purchased a new position in shares of Abbott Laboratories in the 4th quarter valued at $200,000. LaFleur & Godfrey LLC grew its stake in shares of Abbott Laboratories by 23.5% in the 4th quarter. LaFleur & Godfrey LLC now owns 82,443 shares of the healthcare product maker's stock worth $9,325,000 after purchasing an additional 15,692 shares during the last quarter. Brighton Jones LLC raised its position in Abbott Laboratories by 10.1% during the fourth quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker's stock valued at $5,850,000 after buying an additional 4,755 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in shares of Abbott Laboratories during the 4th quarter valued at $29,120,000. Finally, Allspring Global Investments Holdings LLC grew its stake in Abbott Laboratories by 75.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 470,094 shares of the healthcare product maker's stock valued at $53,327,000 after buying an additional 201,556 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company's stock.

Abbott Laboratories Stock Performance

ABT traded down $1.68 during trading on Monday, reaching $133.94. 2,215,800 shares of the company were exchanged, compared to its average volume of 6,092,500. The stock has a market cap of $233.03 billion, a P/E ratio of 17.52, a PEG ratio of 2.52 and a beta of 0.73. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $141.23. The firm has a 50 day moving average of $131.50 and a 200 day moving average of $126.47.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted 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. The firm had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.38 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. On average, sell-side 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. Shareholders of record on Tuesday, July 15th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.76%. Abbott Laboratories's payout ratio is 30.61%.

Analyst Ratings Changes

Several research firms recently weighed in on ABT. The Goldman Sachs Group boosted their price objective on Abbott Laboratories from $138.00 to $154.00 and gave the stock a "buy" rating in a research report on Tuesday, March 4th. Citigroup boosted their price target on shares of Abbott Laboratories from $135.00 to $160.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. Jefferies Financial Group increased their price objective on Abbott Laboratories from $135.00 to $137.00 and gave the stock a "hold" rating in a report on Thursday, April 17th. Morgan Stanley raised their target price on shares of Abbott Laboratories from $117.00 to $127.00 and gave the company an "equal weight" rating in a research report on Thursday, April 17th. Finally, Piper Sandler reissued an "overweight" rating and issued a $145.00 price objective (up from $133.00) on shares of Abbott Laboratories in a research report on Thursday, April 17th. Five investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $142.61.

Insider Activity at Abbott Laboratories

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 shares were 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 in the company, valued at $4,415,960.28. The trade was a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.46% of the stock is owned by insiders.

About Abbott Laboratories

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.