Gill Capital Partners LLC Invests $269,000 in Abbott Laboratories (NYSE:ABT)

Key Points

• Gill Capital Partners LLC has invested approximately $269,000 in Abbott Laboratories, acquiring 2,026 shares in the healthcare product maker during the first quarter.
• Institutional investors and hedge funds now own 75.18% of Abbott Laboratories' stock, reflecting increasing confidence in the company's performance and prospects.
• Abbott Laboratories recently reported a quarterly earnings per share (EPS) of $1.26, in line with consensus estimates, and a revenue increase of 7.4% year-over-year.

Gill Capital Partners LLC acquired a new stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 2,026 shares of the healthcare product maker's stock, valued at approximately $269,000.

Other hedge funds also recently bought and sold shares of the company. ING Groep NV raised its stake in Abbott Laboratories by 149.6% during the first quarter. ING Groep NV now owns 882,738 shares of the healthcare product maker's stock worth $117,095,000 after purchasing an additional 529,065 shares during the period. Earned Wealth Advisors LLC increased its stake in Abbott Laboratories by 94.5% during the first quarter. Earned Wealth Advisors LLC now owns 4,157 shares of the healthcare product maker's stock worth $551,000 after acquiring an additional 2,020 shares during the last quarter. SGL Investment Advisors Inc. raised its position in Abbott Laboratories by 30.2% in the first quarter. SGL Investment Advisors Inc. now owns 2,506 shares of the healthcare product maker's stock valued at $336,000 after purchasing an additional 581 shares during the period. Allianz SE lifted its stake in shares of Abbott Laboratories by 23.7% in the 1st quarter. Allianz SE now owns 91,443 shares of the healthcare product maker's stock valued at $12,130,000 after purchasing an additional 17,494 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its holdings in shares of Abbott Laboratories by 3.5% during the 1st quarter. Commonwealth Equity Services LLC now owns 893,801 shares of the healthcare product maker's stock worth $118,563,000 after purchasing an additional 30,612 shares during the period. Institutional investors and hedge funds own 75.18% of the company's stock.

Wall Street Analyst Weigh In

ABT has been the topic of several research analyst reports. Leerink Partnrs upgraded shares of Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. BTIG Research decreased their price objective on shares of Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating on the stock in a report on Friday, July 18th. Jefferies Financial Group raised shares of Abbott Laboratories from a "hold" rating to a "buy" rating and increased their price objective for the stock from $143.00 to $145.00 in a research report on Friday, July 18th. Wells Fargo & Company cut their target price on Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating on the stock in a research report on Friday, July 18th. Finally, William Blair raised Abbott Laboratories to a "strong-buy" rating in a research note on Thursday, July 17th. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $144.47.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $127.32 on Monday. The company has a market cap of $221.60 billion, a P/E ratio of 15.95, a PEG ratio of 2.41 and a beta of 0.70. The firm has a fifty day moving average price of $131.78 and a 200 day moving average price of $130.61. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. Abbott Laboratories has a 12 month low of $107.11 and a 12 month high of $141.23.

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

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Tuesday, July 15th. Abbott Laboratories's dividend payout ratio is presently 29.57%.

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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