Abbott Laboratories (NYSE:ABT) Stake Boosted by JFS Wealth Advisors LLC

JFS Wealth Advisors LLC raised its position in shares of Abbott Laboratories (NYSE:ABTFree Report) by 1.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,853 shares of the healthcare product maker’s stock after buying an additional 132 shares during the quarter. JFS Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $1,572,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Tallon Kerry Patrick purchased a new position in shares of Abbott Laboratories in the fourth quarter worth approximately $200,000. LaFleur & Godfrey LLC increased its position in shares of Abbott Laboratories by 23.5% in the fourth quarter. LaFleur & Godfrey LLC now owns 82,443 shares of the healthcare product maker’s stock worth $9,325,000 after acquiring an additional 15,692 shares in the last quarter. Brighton Jones LLC increased its position in shares of Abbott Laboratories by 10.1% in the fourth quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker’s stock worth $5,850,000 after acquiring an additional 4,755 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in shares of Abbott Laboratories in the fourth quarter worth approximately $29,120,000. Finally, Bank Pictet & Cie Europe AG increased its position in shares of Abbott Laboratories by 1.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker’s stock worth $17,274,000 after acquiring an additional 2,774 shares in the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Performance

Shares of ABT opened at $132.88 on Monday. The company’s fifty day moving average is $132.19 and its 200-day moving average is $127.03. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $141.23. The firm has a market cap of $231.20 billion, a price-to-earnings ratio of 17.24, a price-to-earnings-growth ratio of 2.53 and a beta of 0.73. The company has a quick ratio of 1.27, a current ratio of 1.78 and a debt-to-equity ratio of 0.26.

Abbott Laboratories (NYSE:ABTGet Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, topping the consensus estimate of $1.07 by $0.02. The company had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.38 billion. Abbott Laboratories had a net margin of 31.89% and a return on equity of 19.01%. Equities analysts expect that Abbott Laboratories will post 5.14 EPS 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. Investors of record on Tuesday, July 15th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Tuesday, July 15th. Abbott Laboratories’s dividend payout ratio is currently 30.61%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ABT shares. 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 target price on the stock. Piper Sandler reiterated an “overweight” rating and issued a $145.00 price objective (up previously from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. Bank of America upped their price objective on shares of Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Wells Fargo & Company upped their price objective on shares of Abbott Laboratories from $136.00 to $147.00 and gave the company an “overweight” rating in a research note on Thursday, April 17th. Finally, The Goldman Sachs Group upped 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. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and an average target price of $142.61.

Get Our Latest Stock Analysis on ABT

Insider Buying and Selling

In related news, Director Sally E. Blount sold 2,600 shares of the company’s stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total transaction of $337,116.00. Following the completion of the sale, the director now directly owns 34,058 shares of the company’s stock, valued at approximately $4,415,960.28. This 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 insiders.

Abbott Laboratories Company Profile

(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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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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