Grove Street Fiduciary LLC Buys Shares of 2,771 Abbott Laboratories (NYSE:ABT)

Grove Street Fiduciary LLC bought a new stake in Abbott Laboratories (NYSE:ABT - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,771 shares of the healthcare product maker's stock, valued at approximately $368,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hughes Financial Services LLC bought a new position in shares of Abbott Laboratories during the 1st quarter valued at $27,000. Abound Financial LLC bought a new position in shares of Abbott Laboratories during the 1st quarter valued at $28,000. Redwood Park Advisors LLC bought a new position in shares of Abbott Laboratories during the 4th quarter valued at $25,000. JCIC Asset Management Inc. bought a new position in shares of Abbott Laboratories during the 1st quarter valued at $32,000. Finally, WealthTrak Capital Management LLC bought a new position in shares of Abbott Laboratories during the 4th quarter valued at $28,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ABT has been the topic of several analyst reports. Royal Bank Of Canada lifted their target price on shares of Abbott Laboratories from $145.00 to $147.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Morgan Stanley lifted their target price on shares of Abbott Laboratories from $127.00 to $137.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Wells Fargo & Company decreased their target price on shares of Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating on the stock in a research note on Friday, July 18th. William Blair raised shares of Abbott Laboratories to a "strong-buy" rating in a research note on Thursday, July 17th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $145.00 target price (up from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $144.47.

Insider Transactions at Abbott Laboratories

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 value of $337,116.00. Following the transaction, the director owned 34,058 shares in the company, valued at $4,415,960.28. The trade was a 7.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.46% of the stock is currently owned by insiders.

Abbott Laboratories Stock Up 0.7%

Shares of ABT stock traded up $0.89 during mid-day trading on Friday, reaching $126.53. 4,741,228 shares of the company's stock traded hands, compared to its average volume of 7,571,204. Abbott Laboratories has a 12 month low of $99.92 and a 12 month high of $141.23. The company has a market cap of $220.15 billion, a P/E ratio of 15.86, a P/E/G ratio of 2.38 and a beta of 0.73. The company has a quick ratio of 1.27, a current ratio of 1.78 and a debt-to-equity ratio of 0.26. The company's 50-day moving average price is $132.39 and its 200-day moving average price is $129.88.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced 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. The firm had revenue of $11.14 billion for the quarter, compared to analysts' expectations of $11.01 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.83%. The company's quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.14 EPS. On average, equities analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Tuesday, July 15th. Abbott Laboratories's payout ratio is 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.