Murphy Pohlad Asset Management LLC Invests $428,000 in Abbott Laboratories (NYSE:ABT)

Murphy Pohlad Asset Management LLC purchased a new position in Abbott Laboratories (NYSE:ABT - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 3,229 shares of the healthcare product maker's stock, valued at approximately $428,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Redwood Park Advisors LLC bought a new stake in Abbott Laboratories in the 4th quarter valued at $25,000. Noble Wealth Management PBC purchased a new stake in shares of Abbott Laboratories in the fourth quarter worth about $26,000. NewSquare Capital LLC boosted its stake in Abbott Laboratories by 78.4% during the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker's stock valued at $27,000 after buying an additional 105 shares during the last quarter. WealthTrak Capital Management LLC purchased a new position in Abbott Laboratories during the 4th quarter valued at approximately $28,000. Finally, Rialto Wealth Management LLC purchased a new stake in shares of Abbott Laboratories during the 4th quarter worth approximately $29,000. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Price Performance

Shares of ABT stock opened at $135.41 on Monday. The company's 50-day simple moving average is $131.50 and its two-hundred day simple moving average is $126.47. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. Abbott Laboratories has a one year low of $99.71 and a one year high of $141.23. The company has a market capitalization of $235.59 billion, a P/E ratio of 17.70, a P/E/G ratio of 2.52 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, topping 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 company had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.38 billion. As a group, equities analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.74%. Abbott Laboratories's dividend payout ratio (DPR) is 30.61%.

Insider Activity

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

Analysts Set New Price Targets

Several brokerages recently weighed in on ABT. Jefferies Financial Group boosted their price target on shares of Abbott Laboratories from $135.00 to $137.00 and gave the stock a "hold" rating in a research report on Thursday, April 17th. Morgan Stanley boosted their target price on shares of Abbott Laboratories from $117.00 to $127.00 and gave the stock an "equal weight" rating in a report on Thursday, April 17th. Stifel Nicolaus increased their price target on shares of Abbott Laboratories from $135.00 to $145.00 and gave the company a "buy" rating in a report on Thursday, April 17th. Raymond James boosted their price objective on Abbott Laboratories from $132.00 to $142.00 and gave the stock an "outperform" rating in a research note on Thursday, April 17th. Finally, Bank of America raised their price objective on Abbott Laboratories from $133.00 to $150.00 and gave the company a "buy" rating in a research note on Monday, March 10th. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $142.59.

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.

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