Nicolet Advisory Services LLC Buys 2,156 Shares of Abbott Laboratories (NYSE:ABT)

Key Points

• Nicolet Advisory Services LLC increased its stake in Abbott Laboratories by 6.5%, acquiring an additional 2,156 shares, bringing their total holdings to 35,160 shares valued at approximately $4.4 million.
• Multiple analysts have recently upgraded Abbott Laboratories, with William Blair rating it a "strong-buy" and Jefferies raising their price target from $143 to $145.
• Abbott Laboratories reported a 7.4% year-over-year revenue increase in its latest earnings report, with $11.14 billion in revenue and $1.26 EPS, meeting analyst expectations.

Nicolet Advisory Services LLC grew its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 6.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,160 shares of the healthcare product maker's stock after purchasing an additional 2,156 shares during the period. Nicolet Advisory Services LLC's holdings in Abbott Laboratories were worth $4,377,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Cim LLC increased its position in Abbott Laboratories by 0.4% during the fourth quarter. Cim LLC now owns 16,967 shares of the healthcare product maker's stock worth $1,919,000 after acquiring an additional 73 shares during the period. Capital Square LLC lifted its position in Abbott Laboratories by 2.7% during the 4th quarter. Capital Square LLC now owns 2,941 shares of the healthcare product maker's stock valued at $368,000 after purchasing an additional 77 shares during the period. Consilium Wealth Advisory LLC lifted its position in Abbott Laboratories by 2.1% during the 1st quarter. Consilium Wealth Advisory LLC now owns 3,822 shares of the healthcare product maker's stock valued at $507,000 after purchasing an additional 78 shares during the period. Mayflower Financial Advisors LLC lifted its position in Abbott Laboratories by 0.5% during the 1st quarter. Mayflower Financial Advisors LLC now owns 17,327 shares of the healthcare product maker's stock valued at $2,298,000 after purchasing an additional 78 shares during the period. Finally, Opes Wealth Management LLC lifted its position in Abbott Laboratories by 2.9% during the 1st quarter. Opes Wealth Management LLC now owns 2,854 shares of the healthcare product maker's stock valued at $379,000 after purchasing an additional 80 shares during the period. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Trading Up 0.4%

ABT traded up $0.51 during trading on Tuesday, reaching $130.44. 2,907,922 shares of the stock traded hands, compared to its average volume of 6,911,960. Abbott Laboratories has a 12 month low of $107.11 and a 12 month high of $141.23. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. The stock's 50-day moving average is $131.76 and its 200 day moving average is $130.72. The stock has a market capitalization of $226.94 billion, a PE ratio of 16.33, a P/E/G ratio of 2.41 and a beta of 0.70.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.26. The firm had revenue of $11.14 billion during the quarter, compared to the consensus estimate of $11.01 billion. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%. The business's revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.14 EPS. Equities analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current 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 given a dividend of $0.59 per share. The ex-dividend date is Tuesday, July 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.8%. Abbott Laboratories's payout ratio is currently 29.57%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ABT shares. Morgan Stanley raised their price target 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. Royal Bank Of Canada raised their price target on Abbott Laboratories from $145.00 to $147.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Leerink Partnrs raised Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. Stifel Nicolaus raised their price target on Abbott Laboratories from $135.00 to $145.00 and gave the company a "buy" rating in a report on Thursday, April 17th. Finally, Raymond James Financial lowered their price objective on Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating on the stock in a research report on Friday, July 18th. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $144.47.

Abbott Laboratories Company 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.