Sequoia Financial Advisors LLC Has $31.68 Million Position in Abbott Laboratories (NYSE:ABT)

Sequoia Financial Advisors LLC lifted its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 10.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 238,858 shares of the healthcare product maker's stock after purchasing an additional 22,071 shares during the period. Sequoia Financial Advisors LLC's holdings in Abbott Laboratories were worth $31,684,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ABT. Cim LLC raised its holdings in Abbott Laboratories by 0.4% in the fourth quarter. Cim LLC now owns 16,967 shares of the healthcare product maker's stock valued at $1,919,000 after acquiring an additional 73 shares in the last quarter. Cape Investment Advisory Inc. raised its holdings in Abbott Laboratories by 6.6% in the fourth quarter. Cape Investment Advisory Inc. now owns 1,236 shares of the healthcare product maker's stock valued at $140,000 after acquiring an additional 76 shares in the last quarter. Capital Square LLC raised its holdings in Abbott Laboratories by 2.7% in the fourth quarter. Capital Square LLC now owns 2,941 shares of the healthcare product maker's stock valued at $368,000 after acquiring an additional 77 shares in the last quarter. Consilium Wealth Advisory LLC raised its holdings in Abbott Laboratories by 2.1% in the first quarter. Consilium Wealth Advisory LLC now owns 3,822 shares of the healthcare product maker's stock valued at $507,000 after acquiring an additional 78 shares in the last quarter. Finally, Cyrus J. Lawrence LLC raised its holdings in Abbott Laboratories by 9.0% in the fourth quarter. Cyrus J. Lawrence LLC now owns 954 shares of the healthcare product maker's stock valued at $107,000 after acquiring an additional 79 shares in the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Stock Performance

Shares of ABT stock traded up $0.73 during trading hours on Friday, reaching $134.40. The stock had a trading volume of 9,513,093 shares, compared to its average volume of 6,158,384. 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 has a twelve month low of $99.71 and a twelve month high of $141.23. The firm has a 50-day simple moving average of $132.75 and a 200-day simple moving average of $127.43. The firm has a market capitalization of $233.83 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 2.54 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, beating the consensus estimate of $1.07 by $0.02. The firm had revenue of $10.36 billion for the quarter, compared to analysts' expectations of $10.38 billion. Abbott Laboratories had a net margin of 31.89% and a return on equity of 19.01%. As a group, equities analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be paid a $0.59 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.76%. Abbott Laboratories's dividend payout ratio is currently 30.61%.

Wall Street Analysts Forecast Growth

ABT has been the topic of several recent analyst reports. Bank of America upped their price target on shares of Abbott Laboratories from $133.00 to $150.00 and gave the company a "buy" rating in a report on Monday, March 10th. Leerink Partnrs raised shares of Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. Wells Fargo & Company increased their target price on shares of Abbott Laboratories from $136.00 to $147.00 and gave the stock an "overweight" rating in a report on Thursday, April 17th. The Goldman Sachs Group increased their target price on shares of Abbott Laboratories from $138.00 to $154.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Finally, Citigroup increased their target price on shares of Abbott Laboratories from $135.00 to $160.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Six analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $142.61.

Insider Transactions at Abbott Laboratories

In related 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 now directly owns 34,058 shares in the company, valued at approximately $4,415,960.28. This trade represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.46% of the stock is currently owned by insiders.

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.