Retirement Guys Formula LLC Takes Position in Abbott Laboratories (NYSE:ABT)

Retirement Guys Formula LLC bought a new position in shares of Abbott Laboratories (NYSE:ABT - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 7,069 shares of the healthcare product maker's stock, valued at approximately $938,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Three Seasons Wealth LLC purchased a new position in shares of Abbott Laboratories in the fourth quarter valued at approximately $1,428,000. Kelly Financial Services LLC acquired a new stake in Abbott Laboratories during the 1st quarter worth approximately $216,000. Voleon Capital Management LP purchased a new position in Abbott Laboratories in the 4th quarter valued at approximately $273,000. Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of Abbott Laboratories by 5.5% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,095,443 shares of the healthcare product maker's stock worth $133,691,000 after acquiring an additional 57,499 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG increased its position in shares of Abbott Laboratories by 1.9% during 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. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total transaction of $337,116.00. Following the completion of the sale, the director now directly owns 34,058 shares of the company's stock, valued at approximately $4,415,960.28. This trade represents a 7.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.46% of the stock is currently owned by company insiders.

Abbott Laboratories Stock Up 0.2%

ABT opened at $133.26 on Tuesday. Abbott Laboratories has a one year low of $99.71 and a one year high of $141.23. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.27 and a current ratio of 1.78. The stock has a market capitalization of $231.85 billion, a P/E ratio of 17.28, a price-to-earnings-growth ratio of 2.53 and a beta of 0.73. The business's 50-day simple moving average is $132.30 and its 200-day simple moving average is $127.16.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings results 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. The company had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.38 billion. Abbott Laboratories had a return on equity of 19.01% and a net margin of 31.89%. Analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 1.77%. The ex-dividend date is Tuesday, July 15th. Abbott Laboratories's payout ratio is currently 30.61%.

Wall Street Analyst Weigh In

ABT has been the subject of several analyst reports. Bank of America boosted their target price on Abbott Laboratories from $133.00 to $150.00 and gave the stock a "buy" rating in a research note on Monday, March 10th. Raymond James Financial boosted their price objective on Abbott Laboratories from $132.00 to $142.00 and gave the stock an "outperform" rating in a research report on Thursday, April 17th. Wells Fargo & Company upped their target price on shares of Abbott Laboratories from $136.00 to $147.00 and gave the stock an "overweight" rating in a research note on Thursday, April 17th. Citigroup lifted their price target on shares of Abbott Laboratories from $135.00 to $160.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. Finally, Jefferies Financial Group increased their price objective on shares of Abbott Laboratories from $135.00 to $137.00 and gave the company a "hold" rating in a research report on Thursday, April 17th. Six equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $142.61.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.