VCI Wealth Management LLC acquired a new stake in Abbott Laboratories (NYSE:ABT - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 11,416 shares of the healthcare product maker's stock, valued at approximately $1,514,000.
A number of other hedge funds have also added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich increased its stake in Abbott Laboratories by 5.5% in the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,155,818 shares of the healthcare product maker's stock valued at $167,359,000 after acquiring an additional 60,375 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Abbott Laboratories in the first quarter valued at approximately $245,000. Hartford Funds Management Co LLC boosted its position in Abbott Laboratories by 33.4% in the first quarter. Hartford Funds Management Co LLC now owns 6,521 shares of the healthcare product maker's stock valued at $865,000 after buying an additional 1,634 shares in the last quarter. Ignite Planners LLC boosted its position in Abbott Laboratories by 6.3% in the first quarter. Ignite Planners LLC now owns 4,742 shares of the healthcare product maker's stock valued at $621,000 after buying an additional 280 shares in the last quarter. Finally, Crestwood Advisors Group LLC lifted its holdings in shares of Abbott Laboratories by 2.6% during the first quarter. Crestwood Advisors Group LLC now owns 91,815 shares of the healthcare product maker's stock worth $12,179,000 after purchasing an additional 2,298 shares during the period. 75.18% of the stock is owned by institutional investors.
Abbott Laboratories Stock Up 0.5%
ABT stock traded up $0.58 during trading on Friday, reaching $126.22. The stock had a trading volume of 1,545,996 shares, compared to its average volume of 6,947,680. Abbott Laboratories has a one year low of $99.92 and a one year high of $141.23. The company has a quick ratio of 1.27, a current ratio of 1.78 and a debt-to-equity ratio of 0.26. The company's 50 day moving average is $132.55 and its two-hundred day moving average is $129.78. The company has a market capitalization of $219.60 billion, a price-to-earnings ratio of 15.79, a P/E/G ratio of 2.39 and a beta of 0.73.
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, hitting analysts' consensus estimates of $1.26. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.83%. The business had revenue of $11.14 billion during the quarter, compared to the consensus estimate of $11.01 billion. During the same period in the prior year, the firm posted $1.14 EPS. The firm's quarterly revenue was up 7.4% compared to the same quarter last year. Equities research analysts forecast that Abbott Laboratories will post 5.14 EPS for the current year.
Abbott Laboratories Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Tuesday, July 15th. Abbott Laboratories's dividend payout ratio is currently 29.57%.
Analysts Set New Price Targets
Several research analysts have recently weighed in on ABT shares. BTIG Research lowered their price objective on Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating for the company in a research report on Friday, July 18th. Mizuho upped their price objective on shares of Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. William Blair upgraded shares of Abbott Laboratories to a "strong-buy" rating in a report on Thursday, July 17th. Barclays upped their price objective 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. Finally, Royal Bank Of Canada upped their price objective on shares of Abbott Laboratories from $145.00 to $147.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $144.47.
View Our Latest Stock Report on Abbott Laboratories
Insider Buying and Selling 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 completion of the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.46% of the stock is owned by corporate insiders.
About Abbott Laboratories
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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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