Abbott Laboratories (NYSE:ABT) Shares Bought by Davis R M Inc.

Key Points

• Davis R M Inc. increased its holdings in Abbott Laboratories by 9.6%, acquiring an additional 2,178 shares, bringing its total to 24,917 shares valued at approximately $3.3 million.
• Abbott Laboratories reported $1.26 earnings per share for the last quarter, meeting analyst expectations, and experienced a 7.4% increase in revenue year-over-year, totaling $11.14 billion.
• The company announced a quarterly dividend of $0.59 per share, which will be paid on August 15, representing an annualized yield of 1.83%.

Davis R M Inc. grew its position in Abbott Laboratories (NYSE:ABT - Free Report) by 9.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,917 shares of the healthcare product maker's stock after purchasing an additional 2,178 shares during the quarter. Davis R M Inc.'s holdings in Abbott Laboratories were worth $3,305,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in ABT. Three Seasons Wealth LLC purchased a new stake in Abbott Laboratories in the fourth quarter valued at about $1,428,000. Kelly Financial Services LLC purchased a new position in shares of Abbott Laboratories in the 1st quarter valued at approximately $216,000. Voleon Capital Management LP acquired a new stake in Abbott Laboratories in the 4th quarter worth approximately $273,000. Bank Pictet & Cie Europe AG increased its stake in Abbott Laboratories by 1.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock valued at $17,274,000 after purchasing an additional 2,774 shares in the last quarter. Finally, Edge Financial Advisors LLC raised its holdings in shares of Abbott Laboratories by 3.3% in the first quarter. Edge Financial Advisors LLC now owns 2,530 shares of the healthcare product maker's stock worth $336,000 after buying an additional 81 shares during the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Stock Up 1.6%

Shares of Abbott Laboratories stock traded up $1.98 during trading hours on Monday, reaching $129.27. 2,214,734 shares of the company were exchanged, compared to its average volume of 6,915,687. Abbott Laboratories has a 1 year low of $107.11 and a 1 year high of $141.23. The firm has a market cap of $224.99 billion, a PE ratio of 16.19, a PEG ratio of 2.41 and a beta of 0.70. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82. The stock's fifty day moving average is $131.78 and its 200 day moving average is $130.61.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.26. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%. The company had revenue of $11.14 billion for the quarter, compared to analyst estimates of $11.01 billion. During the same quarter last year, the company earned $1.14 EPS. Abbott Laboratories's revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, equities research analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be given a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.8%. Abbott Laboratories's payout ratio is 29.57%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ABT shares. Raymond James Financial reduced their price objective on Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating for the company in a research note on Friday, July 18th. Barclays upped their price target on shares of Abbott Laboratories from $158.00 to $159.00 and gave the stock an "overweight" rating in a research report on Thursday, April 17th. Leerink Partners started coverage on shares of Abbott Laboratories in a research report on Monday, June 16th. They issued a "market perform" rating and a $143.00 target price for the company. Leerink Partnrs upgraded Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. Finally, Morgan Stanley increased their price target on Abbott Laboratories from $127.00 to $137.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Abbott Laboratories currently has a consensus rating of "Moderate Buy" and a consensus target price of $144.47.

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.