Cwm LLC Purchases 12,647 Shares of Abbott Laboratories (NYSE:ABT)

Cwm LLC lifted its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 5.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 263,215 shares of the healthcare product maker's stock after acquiring an additional 12,647 shares during the period. Cwm LLC's holdings in Abbott Laboratories were worth $34,915,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in ABT. Redwood Park Advisors LLC bought a new stake in Abbott Laboratories in the 4th quarter worth approximately $25,000. Hughes Financial Services LLC purchased a new position in shares of Abbott Laboratories in the 1st quarter worth $27,000. WealthTrak Capital Management LLC purchased a new stake in Abbott Laboratories during the fourth quarter valued at $28,000. Abound Financial LLC bought a new position in Abbott Laboratories in the first quarter valued at about $28,000. Finally, Wormser Freres Gestion purchased a new position in Abbott Laboratories in the fourth quarter worth about $32,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Sally E. Blount sold 2,600 shares of the company's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total transaction of $337,116.00. Following the transaction, the director directly owned 34,058 shares in the company, valued at approximately $4,415,960.28. This represents a 7.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.46% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ABT shares. Royal Bank Of Canada increased their price objective on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a research note on Thursday, April 17th. Leerink Partners began coverage on shares of Abbott Laboratories in a research note on Monday, June 16th. They set a "market perform" rating and a $143.00 price target on the stock. Piper Sandler restated an "overweight" rating and issued a $145.00 price objective (up from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. Raymond James Financial lifted their target price on Abbott Laboratories from $132.00 to $142.00 and gave the company an "outperform" rating in a research report on Thursday, April 17th. Finally, Jefferies Financial Group raised their price objective on Abbott Laboratories from $135.00 to $137.00 and gave the stock a "hold" rating in a research note on Thursday, April 17th. Six investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $143.11.

Abbott Laboratories Stock Performance

Abbott Laboratories stock opened at $131.95 on Monday. The company has a quick ratio of 1.27, a current ratio of 1.78 and a debt-to-equity ratio of 0.26. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $141.23. The company's 50-day moving average price is $133.52 and its 200-day moving average price is $129.17. The company has a market cap of $229.56 billion, a PE ratio of 17.11, a price-to-earnings-growth ratio of 2.51 and a beta of 0.73.

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

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.79%. The ex-dividend date is Tuesday, July 15th. Abbott Laboratories's dividend payout ratio is currently 30.61%.

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.

Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abbott Laboratories (NYSE:ABT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.