Lyell Wealth Management LP Has $7.98 Million Stock Position in Abbott Laboratories (NYSE:ABT)

Key Points

• Lyell Wealth Management LP increased its stake in Abbott Laboratories by 4.7%, now holding 60,128 shares valued at approximately $7.98 million.
• The company reported Q2 earnings of $1.26 EPS, meeting estimates, with a revenue of $11.14 billion, showing a 7.4% increase year-over-year.
• Abbott Laboratories plans to pay a quarterly dividend of $0.59 per share on August 15th, representing an annualized yield of 1.83%.

Lyell Wealth Management LP boosted its position in Abbott Laboratories (NYSE:ABT - Free Report) by 4.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 60,128 shares of the healthcare product maker's stock after acquiring an additional 2,690 shares during the period. Lyell Wealth Management LP's holdings in Abbott Laboratories were worth $7,976,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its holdings in shares of Abbott Laboratories by 10.1% in 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. Bank Pictet & Cie Europe AG boosted its holdings in shares of Abbott Laboratories by 1.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock worth $17,274,000 after acquiring an additional 2,774 shares during the period. StoneX Group Inc. boosted its holdings in shares of Abbott Laboratories by 56.8% in the fourth quarter. StoneX Group Inc. now owns 20,246 shares of the healthcare product maker's stock worth $2,290,000 after acquiring an additional 7,331 shares during the period. Nemes Rush Group LLC boosted its holdings in shares of Abbott Laboratories by 24.9% in the fourth quarter. Nemes Rush Group LLC now owns 3,308 shares of the healthcare product maker's stock worth $374,000 after acquiring an additional 660 shares during the period. Finally, Diametric Capital LP bought a new stake in Abbott Laboratories during the fourth quarter valued at $229,000. Institutional investors own 75.18% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Raymond James Financial dropped their price target on Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating for the company in a research note on Friday, July 18th. Leerink Partnrs upgraded Abbott Laboratories to a "hold" rating in a report on Monday, June 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 report on Tuesday, July 15th. Royal Bank Of Canada upped their target price on Abbott Laboratories from $145.00 to $147.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Finally, Wells Fargo & Company reduced their target price on Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating on the stock in a report on Friday, July 18th. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Abbott Laboratories has a consensus rating of "Moderate Buy" and a consensus target price of $144.47.

Abbott Laboratories Price Performance

Shares of NYSE:ABT traded up $1.13 during trading hours on Friday, hitting $127.32. 5,452,663 shares of the company's stock traded hands, compared to its average volume of 7,710,759. Abbott Laboratories has a 52 week low of $107.11 and a 52 week high of $141.23. The company's fifty day simple moving average is $131.78 and its two-hundred day simple moving average is $130.36. The company has a market cap of $221.52 billion, a price-to-earnings ratio of 25.98, a price-to-earnings-growth ratio of 2.41 and a beta of 0.70. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.27 and a current ratio of 1.82.

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 return on equity of 18.32% and a net margin of 32.43%. The company had revenue of $11.14 billion for the quarter, compared to the consensus estimate of $11.01 billion. During the same quarter last year, the company posted $1.14 earnings per share. The company's revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, equities analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Tuesday, July 15th. Abbott Laboratories's payout ratio is currently 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.