Tsfg LLC decreased its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 2.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 103,800 shares of the healthcare product maker's stock after selling 2,261 shares during the period. Abbott Laboratories comprises approximately 2.8% of Tsfg LLC's portfolio, making the stock its 9th largest position. Tsfg LLC's holdings in Abbott Laboratories were worth $13,769,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the stock. LaFleur & Godfrey LLC increased its holdings in shares of Abbott Laboratories by 23.5% in the 4th quarter. LaFleur & Godfrey LLC now owns 82,443 shares of the healthcare product maker's stock valued at $9,325,000 after acquiring an additional 15,692 shares during the last quarter. Brighton Jones LLC raised its holdings in Abbott Laboratories by 10.1% during the fourth quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker's stock worth $5,850,000 after purchasing an additional 4,755 shares in the last quarter. Bank Pictet & Cie Europe AG lifted its position in shares of Abbott Laboratories by 1.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock worth $17,274,000 after buying an additional 2,774 shares during the last quarter. Whipplewood Advisors LLC acquired a new position in shares of Abbott Laboratories in the 4th quarter valued at $66,000. Finally, Nwam LLC grew its position in shares of Abbott Laboratories by 16.1% in the 4th quarter. Nwam LLC now owns 23,920 shares of the healthcare product maker's stock valued at $2,706,000 after buying an additional 3,323 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company's stock.
Insider Activity 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 value of $337,116.00. Following the sale, the director directly owned 34,058 shares of the company's stock, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on ABT. Leerink Partners assumed coverage on shares of Abbott Laboratories in a research report on Monday, June 16th. They issued a "market perform" rating and a $143.00 price target for the company. Jefferies Financial Group boosted their target price on Abbott Laboratories from $135.00 to $137.00 and gave the company a "hold" rating in a report on Thursday, April 17th. The Goldman Sachs Group boosted their price objective on shares of Abbott Laboratories from $138.00 to $154.00 and gave the company a "buy" rating in a research note on Tuesday, March 4th. Morgan Stanley lifted their target price on shares of Abbott Laboratories from $117.00 to $127.00 and gave the company an "equal weight" rating in a report on Thursday, April 17th. Finally, Citigroup raised their price objective on shares of Abbott Laboratories from $135.00 to $160.00 and gave the company a "buy" rating in a research report on Tuesday, March 4th. Six analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Abbott Laboratories currently has an average rating of "Moderate Buy" and an average target price of $142.61.
Read Our Latest Report on ABT
Abbott Laboratories Price Performance
Shares of NYSE ABT traded up $0.20 on Tuesday, hitting $136.21. The company's stock had a trading volume of 5,260,641 shares, compared to its average volume of 6,822,892. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.78 and a quick ratio of 1.27. The stock has a 50 day moving average of $132.94 and a 200-day moving average of $127.91. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $141.23. The company has a market capitalization of $236.99 billion, a price-to-earnings ratio of 17.67, a price-to-earnings-growth ratio of 2.55 and a beta of 0.73.
Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.02. The firm 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%. As a group, research analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.
Abbott Laboratories Announces Dividend
The firm also recently announced 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 yield of 1.73%. Abbott Laboratories's dividend payout ratio (DPR) is presently 30.61%.
Abbott Laboratories Profile
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Free Report)
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.
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