West Branch Capital LLC Boosts Holdings in Abbott Laboratories (NYSE:ABT)

West Branch Capital LLC grew its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 13.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,677 shares of the healthcare product maker's stock after purchasing an additional 2,080 shares during the quarter. Abbott Laboratories comprises approximately 0.8% of West Branch Capital LLC's portfolio, making the stock its 29th biggest holding. West Branch Capital LLC's holdings in Abbott Laboratories were worth $2,345,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of ABT. Redwood Park Advisors LLC bought a new stake in shares of Abbott Laboratories during the fourth quarter valued at about $25,000. Noble Wealth Management PBC bought a new stake in Abbott Laboratories during the 4th quarter worth approximately $26,000. NewSquare Capital LLC lifted its stake in Abbott Laboratories by 78.4% in the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker's stock worth $27,000 after purchasing an additional 105 shares in the last quarter. WealthTrak Capital Management LLC bought a new position in Abbott Laboratories in the 4th quarter valued at $28,000. Finally, Rialto Wealth Management LLC purchased a new position in shares of Abbott Laboratories during the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 75.18% of the company's stock.

Abbott Laboratories Trading Down 1.4%

ABT stock traded down $1.83 during trading on Tuesday, hitting $132.18. 5,010,803 shares of the company traded hands, compared to its average volume of 6,107,957. The company has a 50-day moving average of $131.80 and a 200-day moving average of $126.62. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.27 and a current ratio of 1.78. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23. The firm has a market capitalization of $229.97 billion, a PE ratio of 17.14, a P/E/G ratio of 2.53 and a beta of 0.73.

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 for the quarter, beating analysts' consensus estimates of $1.07 by $0.02. Abbott Laboratories had a return on equity of 19.01% and a net margin of 31.89%. The firm had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.38 billion. Analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company 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 dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.79%. The ex-dividend date is Tuesday, July 15th. Abbott Laboratories's dividend payout ratio (DPR) is 30.61%.

Analyst Upgrades and Downgrades

ABT has been the subject of several research analyst reports. Leerink Partners began coverage on Abbott Laboratories in a research note on Monday. They set a "market perform" rating and a $143.00 price objective for the company. Royal Bank Of Canada boosted their price objective on Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a report on Thursday, April 17th. Raymond James Financial raised their target price on shares of Abbott Laboratories from $132.00 to $142.00 and gave the company an "outperform" rating in a research note on Thursday, April 17th. The Goldman Sachs Group boosted their price target on shares of Abbott Laboratories from $138.00 to $154.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. Finally, Stifel Nicolaus lifted their price objective on shares of Abbott Laboratories from $135.00 to $145.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Six investment 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's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $142.61.

Insider Buying and Selling

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the company's 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 transaction, the director now owns 34,058 shares of the company's stock, valued at $4,415,960.28. This represents a 7.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.46% of the stock is owned by insiders.

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.