Parcion Private Wealth LLC Has $9.35 Million Position in Abbott Laboratories (NYSE:ABT)

Parcion Private Wealth LLC increased its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 3.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 70,491 shares of the healthcare product maker's stock after buying an additional 2,304 shares during the period. Parcion Private Wealth LLC's holdings in Abbott Laboratories were worth $9,351,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the business. Hughes Financial Services LLC bought a new stake in Abbott Laboratories in the 1st quarter valued at $27,000. Abound Financial LLC bought a new position in shares of Abbott Laboratories during the 1st quarter worth about $28,000. Redwood Park Advisors LLC bought a new position in shares of Abbott Laboratories during the 4th quarter worth about $25,000. JCIC Asset Management Inc. bought a new position in shares of Abbott Laboratories during the 1st quarter worth about $32,000. Finally, WealthTrak Capital Management LLC bought a new position in shares of Abbott Laboratories during the 4th quarter worth about $28,000. 75.18% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ABT has been the subject of a number of analyst reports. Evercore ISI raised their price objective on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Barclays lifted their price target on shares of Abbott Laboratories from $158.00 to $159.00 and gave the company an "overweight" rating in a report on Thursday, April 17th. Leerink Partnrs raised shares of Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. BTIG Research cut their price target on shares of Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating for the company in a report on Friday. Finally, Jefferies Financial Group upgraded shares of Abbott Laboratories from a "hold" rating to a "buy" rating and raised their price objective for the company from $143.00 to $145.00 in a research report on Friday. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Abbott Laboratories has an average rating of "Moderate Buy" and an average price target of $144.74.

Insider Transactions at Abbott Laboratories

In other news, Director Sally E. Blount sold 2,600 shares of the firm's stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total transaction of $337,116.00. Following the completion of the sale, the director owned 34,058 shares of the company's stock, valued at $4,415,960.28. This trade represents a 7.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.46% of the company's stock.

Abbott Laboratories Trading Up 3.2%

NYSE ABT traded up $3.83 during trading hours on Friday, reaching $124.34. The company's stock had a trading volume of 9,136,940 shares, compared to its average volume of 6,235,806. The firm has a fifty day simple moving average of $133.17 and a 200-day simple moving average of $129.38. The stock has a market cap of $216.32 billion, a P/E ratio of 16.15, a P/E/G ratio of 2.50 and a beta of 0.73. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $141.23. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.78 and a quick ratio of 1.27.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued 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 business had revenue of $11.14 billion during the quarter, compared to analyst estimates of $11.01 billion. Abbott Laboratories had a net margin of 31.89% and a return on equity of 19.01%. The firm's quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the business earned $1.14 EPS. Equities analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $2.36 annualized dividend and a yield of 1.90%. Abbott Laboratories's payout ratio is 30.61%.

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.