Zions Bancorporation National Association UT Makes New $561,000 Investment in Abbott Laboratories (NYSE:ABT)

Key Points

• Zions Bancorporation National Association UT invested $561,000 in Abbott Laboratories, acquiring 4,231 shares during the first quarter.
• Abbott Laboratories reported a quarterly EPS of $1.26, meeting expectations, with revenues of $11.14 billion, reflecting a 7.4% year-over-year increase.
• The company has a dividend yield of 1.8% and a payout ratio of 29.57%, with a quarterly dividend of $0.59 declared for August 15th.

Zions Bancorporation National Association UT bought a new position in Abbott Laboratories (NYSE:ABT - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm bought 4,231 shares of the healthcare product maker's stock, valued at approximately $561,000.

Other institutional investors have also bought and sold shares of the company. Hughes Financial Services LLC purchased a new position in Abbott Laboratories in the 1st quarter worth approximately $27,000. Abound Financial LLC purchased a new position in Abbott Laboratories in the 1st quarter worth approximately $28,000. Wormser Freres Gestion purchased a new position in Abbott Laboratories in the 4th quarter worth approximately $32,000. JCIC Asset Management Inc. purchased a new position in Abbott Laboratories in the 1st quarter worth approximately $32,000. Finally, Vision Financial Markets LLC purchased a new position in Abbott Laboratories in the 1st quarter worth approximately $33,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $134.41 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. Abbott Laboratories has a 52 week low of $107.11 and a 52 week high of $141.23. The stock has a market capitalization of $233.93 billion, a PE ratio of 16.84, a P/E/G ratio of 2.55 and a beta of 0.70. The firm has a 50 day moving average of $131.69 and a two-hundred day moving average of $131.07.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, meeting the consensus estimate of $1.26. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The company had revenue of $11.14 billion during the quarter, compared to analysts' expectations of $11.01 billion. During the same quarter last year, the company posted $1.14 EPS. The firm's revenue was up 7.4% compared to the same quarter last year. On average, research analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Tuesday, July 15th. Abbott Laboratories's dividend payout ratio (DPR) is currently 29.57%.

Analysts Set New Price Targets

ABT has been the subject of a number of recent analyst reports. BTIG Research cut their price target on shares of Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating for the company in a report on Friday, July 18th. Leerink Partnrs upgraded shares of Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. Stifel Nicolaus raised their price target 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. William Blair upgraded shares of Abbott Laboratories to a "strong-buy" rating in a report on Thursday, July 17th. Finally, Royal Bank Of Canada raised their price target on shares of Abbott Laboratories from $145.00 to $147.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $144.47.

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.

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