Simon Quick Advisors LLC Increases Stock Position in Abbott Laboratories (NYSE:ABT)

Simon Quick Advisors LLC grew its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 20.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 24,231 shares of the healthcare product maker's stock after purchasing an additional 4,176 shares during the period. Simon Quick Advisors LLC's holdings in Abbott Laboratories were worth $3,214,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Raymond James increased their target price on Abbott Laboratories from $132.00 to $142.00 and gave the company an "outperform" rating in a research report on Thursday, April 17th. Wells Fargo & Company raised their price objective on shares of Abbott Laboratories from $136.00 to $147.00 and gave the company an "overweight" rating in a report on Thursday, April 17th. Royal Bank of Canada upped their price target on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a research report on Thursday, April 17th. Bank of America lifted their price target on shares of Abbott Laboratories from $133.00 to $150.00 and gave the stock a "buy" rating in a report on Monday, March 10th. Finally, Morgan Stanley increased their price objective on Abbott Laboratories from $117.00 to $127.00 and gave the company an "equal weight" rating in a report on Thursday, April 17th. Four analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $142.59.

Abbott Laboratories Stock Down 0.5%

Shares of Abbott Laboratories stock traded down $0.73 during trading on Friday, reaching $135.72. 1,755,814 shares of the company traded hands, compared to its average volume of 6,084,611. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The firm has a market capitalization of $236.12 billion, a PE ratio of 17.74, a P/E/G ratio of 2.52 and a beta of 0.73. The company has a 50 day moving average price of $131.26 and a 200-day moving average price of $126.25. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.07 by $0.02. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The company had revenue of $10.36 billion for the quarter, compared to analysts' expectations of $10.38 billion. As a group, equities research analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.74%. Abbott Laboratories's dividend payout ratio is currently 30.61%.

Insider Activity at Abbott Laboratories

In related news, Director Sally E. Blount sold 2,600 shares of the firm's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total value of $337,116.00. Following the transaction, the director now 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 sale 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 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.