Fiduciary Family Office LLC Takes $440,000 Position in Abbott Laboratories (NYSE:ABT)

Key Points

• Fiduciary Family Office LLC acquired a new position in Abbott Laboratories, purchasing 3,318 shares valued at approximately $440,000.
• Abbott Laboratories reported earnings of $1.26 EPS for the quarter, meeting analysts' expectations, and achieved a revenue of $11.14 billion.
• The company declared a quarterly dividend of $0.59 per share, representing an annualized yield of 1.8%, with a payout ratio of 29.57%.

Fiduciary Family Office LLC purchased a new stake in Abbott Laboratories (NYSE:ABT - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 3,318 shares of the healthcare product maker's stock, valued at approximately $440,000.

Other large investors have also made changes to their positions in the company. Three Seasons Wealth LLC bought a new stake in shares of Abbott Laboratories in the 4th quarter valued at approximately $1,428,000. Kelly Financial Services LLC bought a new stake in shares of Abbott Laboratories in the 1st quarter valued at approximately $216,000. Voleon Capital Management LP bought a new stake in shares of Abbott Laboratories in the 4th quarter valued at approximately $273,000. Bank Pictet & Cie Europe AG grew its stake in shares of 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 valued at $17,274,000 after buying an additional 2,774 shares in the last quarter. Finally, Edge Financial Advisors LLC grew its stake in shares of Abbott Laboratories by 3.3% in 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 in the last quarter. Institutional investors own 75.18% of the company's stock.

Abbott Laboratories Stock Performance

Shares of NYSE ABT traded up $0.11 during trading hours on Thursday, reaching $129.51. The stock had a trading volume of 7,037,183 shares, compared to its average volume of 6,882,090. The business's fifty day moving average is $131.52 and its two-hundred day moving average is $131.15. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. The company has a market cap of $225.41 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 2.48 and a beta of 0.70. Abbott Laboratories has a twelve month low of $109.76 and a twelve month high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 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 business had revenue of $11.14 billion during the quarter, compared to analyst estimates of $11.01 billion. During the same period in the prior year, the company posted $1.14 earnings per share. Abbott Laboratories's revenue was up 7.4% on a year-over-year basis. As a group, research analysts expect that Abbott Laboratories will post 5.14 EPS 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 paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.8%. The ex-dividend date is Tuesday, July 15th. Abbott Laboratories's dividend payout ratio is currently 29.57%.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $134.55, for a total transaction of $746,752.50. Following the completion of the transaction, the chief financial officer directly owned 51,003 shares in the company, valued at $6,862,453.65. This represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.46% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ABT has been the subject of a number of recent analyst reports. Mizuho upped their target price on Abbott Laboratories from $130.00 to $140.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 16th. Morgan Stanley upped their target price on Abbott Laboratories from $127.00 to $137.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Stifel Nicolaus upped their target price on Abbott Laboratories from $135.00 to $145.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Leerink Partnrs raised Abbott Laboratories to a "hold" rating in a research report on Monday, June 16th. Finally, Raymond James Financial decreased their target price on Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating for the company in a research report on Friday, July 18th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $144.47.

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.