Capital Investment Advisory Services LLC Acquires 16,827 Shares of Abbott Laboratories (NYSE:ABT)

Capital Investment Advisory Services LLC lifted its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 113.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,646 shares of the healthcare product maker's stock after purchasing an additional 16,827 shares during the period. Capital Investment Advisory Services LLC's holdings in Abbott Laboratories were worth $4,198,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Three Seasons Wealth LLC purchased a new position in shares of Abbott Laboratories in the fourth quarter worth about $1,428,000. Kelly Financial Services LLC purchased a new position in Abbott Laboratories in the 1st quarter worth approximately $216,000. Voleon Capital Management LP purchased a new position in Abbott Laboratories in the 4th quarter worth approximately $273,000. Bank Julius Baer & Co. Ltd Zurich grew its stake in Abbott Laboratories by 5.5% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,095,443 shares of the healthcare product maker's stock worth $133,691,000 after buying an additional 57,499 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG grew its stake in Abbott Laboratories by 1.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock worth $17,274,000 after buying an additional 2,774 shares in the last quarter. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Trading Down 0.3%

NYSE ABT traded down $0.42 during trading on Friday, hitting $133.70. The company had a trading volume of 3,114,335 shares, compared to its average volume of 6,156,602. 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 has a one year low of $99.71 and a one year high of $141.23. The company has a market cap of $232.61 billion, a price-to-earnings ratio of 17.34, a price-to-earnings-growth ratio of 2.55 and a beta of 0.73. The company's fifty day moving average is $133.29 and its 200-day moving average is $128.30.

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

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders 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 annualized dividend and a yield of 1.77%. Abbott Laboratories's dividend payout ratio (DPR) is presently 30.61%.

Analysts Set New Price Targets

ABT has been the subject of a number of research reports. Jefferies Financial Group boosted their price target on shares of Abbott Laboratories from $135.00 to $137.00 and gave the stock a "hold" rating in a research note on Thursday, April 17th. Leerink Partnrs raised shares of Abbott Laboratories to a "hold" rating in a research note on Monday, June 16th. 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 price objective for the company. Morgan Stanley upped their price objective on shares of Abbott Laboratories from $117.00 to $127.00 and gave the company an "equal weight" rating in a research note on Thursday, April 17th. Finally, Wells Fargo & Company upped their price objective on shares of Abbott Laboratories from $136.00 to $147.00 and gave the company an "overweight" rating in a research note on Thursday, April 17th. Six research 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, Abbott Laboratories presently has an average rating of "Moderate Buy" and a consensus target price of $142.61.

Insider Buying and Selling

In related news, Director Sally E. Blount sold 2,600 shares of the stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total value of $337,116.00. Following the completion of the transaction, the director directly 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.46% of the company's stock.

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.