Dock Street Asset Management Inc. Acquires 5,152 Shares of Abbott Laboratories (NYSE:ABT)

Dock Street Asset Management Inc. increased its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 122.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,343 shares of the healthcare product maker's stock after acquiring an additional 5,152 shares during the quarter. Abbott Laboratories makes up about 0.1% of Dock Street Asset Management Inc.'s holdings, making the stock its 29th largest position. Dock Street Asset Management Inc.'s holdings in Abbott Laboratories were worth $1,239,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Cim LLC raised its stake in shares of Abbott Laboratories by 0.4% during the 4th quarter. Cim LLC now owns 16,967 shares of the healthcare product maker's stock valued at $1,919,000 after buying an additional 73 shares during the last quarter. Capital Square LLC raised its stake in shares of Abbott Laboratories by 2.7% during the 4th quarter. Capital Square LLC now owns 2,941 shares of the healthcare product maker's stock valued at $368,000 after buying an additional 77 shares during the last quarter. Consilium Wealth Advisory LLC raised its stake in shares of Abbott Laboratories by 2.1% during the 1st quarter. Consilium Wealth Advisory LLC now owns 3,822 shares of the healthcare product maker's stock valued at $507,000 after buying an additional 78 shares during the last quarter. Cyrus J. Lawrence LLC raised its stake in shares of Abbott Laboratories by 9.0% during the 4th quarter. Cyrus J. Lawrence LLC now owns 954 shares of the healthcare product maker's stock valued at $107,000 after buying an additional 79 shares during the last quarter. Finally, Edge Financial Advisors LLC raised its stake in shares of Abbott Laboratories by 3.3% during the 1st quarter. Edge Financial Advisors LLC now owns 2,530 shares of the healthcare product maker's stock valued at $336,000 after buying an additional 81 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Sally E. Blount sold 2,600 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total transaction of $337,116.00. Following the completion of the sale, the director directly owned 34,058 shares in the company, valued at approximately $4,415,960.28. This trade represents a 7.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.46% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ABT. Leerink Partnrs upgraded Abbott Laboratories to a "hold" rating in a research note on Monday, June 16th. Raymond James Financial lifted their price target on Abbott Laboratories from $132.00 to $142.00 and gave the company an "outperform" rating in a research note on Thursday, April 17th. Stifel Nicolaus lifted their price target on Abbott Laboratories from $135.00 to $145.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. Wells Fargo & Company lifted their price target on Abbott Laboratories from $136.00 to $147.00 and gave the company an "overweight" rating in a research note on Thursday, April 17th. Finally, Evercore ISI lifted their price target on Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Six research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $143.11.

Abbott Laboratories Trading Down 1.2%

Shares of Abbott Laboratories stock opened at $131.95 on Friday. The firm has a market capitalization of $229.56 billion, a price-to-earnings ratio of 17.11, a PEG ratio of 2.51 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 quick ratio of 1.27 and a current ratio of 1.78. The stock has a 50 day moving average of $133.52 and a 200 day moving average of $129.07.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.02. Abbott Laboratories had a return on equity of 19.01% and a net margin of 31.89%. The business had revenue of $10.36 billion for the quarter, compared to analysts' expectations of $10.38 billion. As a group, research analysts predict 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 issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis 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.

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