Integrated Advisors Network LLC Has $3.45 Million Stake in Abbott Laboratories (NYSE:ABT)

Integrated Advisors Network LLC increased its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 30.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,003 shares of the healthcare product maker's stock after buying an additional 6,131 shares during the quarter. Integrated Advisors Network LLC's holdings in Abbott Laboratories were worth $3,449,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Tallon Kerry Patrick bought a new stake in shares of Abbott Laboratories during the 4th quarter worth about $200,000. LaFleur & Godfrey LLC grew its holdings in Abbott Laboratories by 23.5% during the fourth quarter. LaFleur & Godfrey LLC now owns 82,443 shares of the healthcare product maker's stock worth $9,325,000 after acquiring an additional 15,692 shares during the period. Brighton Jones LLC grew its holdings in Abbott Laboratories by 10.1% during the fourth quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker's stock worth $5,850,000 after acquiring an additional 4,755 shares during the period. Union Bancaire Privee UBP SA acquired a new position in Abbott Laboratories during the fourth quarter worth about $29,120,000. Finally, Strategic Financial Concepts LLC acquired a new position in Abbott Laboratories during the fourth quarter worth about $316,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Sally E. Blount sold 2,600 shares of the business's stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total value of $337,116.00. Following the completion of the sale, the director now directly owns 34,058 shares in the company, valued at approximately $4,415,960.28. The trade was a 7.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.46% of the company's stock.

Analyst Upgrades and Downgrades

ABT has been the topic of a number of research analyst reports. Piper Sandler reaffirmed an "overweight" rating and set a $145.00 target price (up from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. Morgan Stanley upped their price target on Abbott Laboratories from $117.00 to $127.00 and gave the company an "equal weight" rating in a report on Thursday, April 17th. Stifel Nicolaus lifted their price target on Abbott Laboratories from $135.00 to $145.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Jefferies Financial Group lifted their price target on Abbott Laboratories from $135.00 to $137.00 and gave the stock a "hold" rating in a research note on Thursday, April 17th. Finally, Wells Fargo & Company lifted their price target on Abbott Laboratories from $136.00 to $147.00 and gave the stock an "overweight" rating in a research note on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $142.59.

Abbott Laboratories Stock Down 0.8%

Shares of Abbott Laboratories stock traded down $1.04 during trading on Friday, hitting $135.41. 3,927,244 shares of the stock traded hands, compared to its average volume of 6,098,055. The stock has a market cap of $235.59 billion, a P/E ratio of 17.70, a PEG ratio of 2.52 and a beta of 0.73. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $141.23. The company has a fifty day moving average price of $131.50 and a two-hundred day moving average price of $126.37.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings results 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 20.74% and a net margin of 31.95%. The business had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.38 billion. Equities research analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.74%. Abbott Laboratories's dividend payout ratio (DPR) is currently 30.61%.

Abbott Laboratories 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.