Perella Weinberg Partners Capital Management LP Raises Stake in Abbott Laboratories (NYSE:ABT)

Perella Weinberg Partners Capital Management LP raised its position in Abbott Laboratories (NYSE:ABT) by 23.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,600 shares of the healthcare product maker’s stock after acquiring an additional 8,950 shares during the quarter. Perella Weinberg Partners Capital Management LP’s holdings in Abbott Laboratories were worth $3,756,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Flagship Harbor Advisors LLC lifted its stake in Abbott Laboratories by 6.1% in the first quarter. Flagship Harbor Advisors LLC now owns 13,973 shares of the healthcare product maker’s stock worth $1,103,000 after acquiring an additional 802 shares during the last quarter. Alerus Financial NA lifted its stake in Abbott Laboratories by 8.5% in the first quarter. Alerus Financial NA now owns 60,465 shares of the healthcare product maker’s stock worth $4,771,000 after acquiring an additional 4,746 shares during the last quarter. Stokes Family Office LLC lifted its position in shares of Abbott Laboratories by 5.4% during the 1st quarter. Stokes Family Office LLC now owns 31,837 shares of the healthcare product maker’s stock worth $2,512,000 after buying an additional 1,633 shares during the last quarter. Sowell Financial Services LLC lifted its position in shares of Abbott Laboratories by 47.2% during the 1st quarter. Sowell Financial Services LLC now owns 51,001 shares of the healthcare product maker’s stock worth $4,024,000 after buying an additional 16,351 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Abbott Laboratories by 3.0% during the 1st quarter. Principal Financial Group Inc. now owns 4,947,206 shares of the healthcare product maker’s stock worth $390,384,000 after buying an additional 145,525 shares during the last quarter. Institutional investors own 73.44% of the company’s stock.

Several analysts have recently weighed in on ABT shares. Wells Fargo & Co boosted their price objective on shares of Abbott Laboratories from $95.00 to $107.00 and gave the stock an “overweight” rating in a research report on Friday, April 17th. Zacks Investment Research downgraded shares of Abbott Laboratories from a “hold” rating to a “sell” rating and set a $98.00 price objective for the company. in a research report on Wednesday, April 15th. Citigroup boosted their price objective on shares of Abbott Laboratories from $87.00 to $109.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Cfra boosted their price objective on shares of Abbott Laboratories from $99.00 to $101.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Finally, BTIG Research restated a “hold” rating on shares of Abbott Laboratories in a research report on Thursday, April 16th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $99.47.

Shares of ABT stock traded up $2.82 during trading hours on Friday, hitting $94.92. 10,138,477 shares of the company were exchanged, compared to its average volume of 6,674,505. The firm has a fifty day moving average of $91.59 and a 200 day moving average of $86.03. The firm has a market cap of $167.90 billion, a PE ratio of 47.70, a PEG ratio of 3.94 and a beta of 0.98. Abbott Laboratories has a 1 year low of $61.61 and a 1 year high of $100.00. The company has a quick ratio of 1.01, a current ratio of 1.43 and a debt-to-equity ratio of 0.55.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Thursday, April 16th. The healthcare product maker reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.07. Abbott Laboratories had a net margin of 11.15% and a return on equity of 18.61%. The business had revenue of $7.73 billion during the quarter, compared to the consensus estimate of $7.47 billion. During the same quarter last year, the company earned $0.63 earnings per share. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. Analysts expect that Abbott Laboratories will post 2.81 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 8th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.34%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.44%.

In other Abbott Laboratories news, SVP Jared Watkin sold 8,248 shares of the firm’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $82.00, for a total value of $676,336.00. Following the sale, the senior vice president now directly owns 68,696 shares in the company, valued at $5,633,072. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John F. Ginascol sold 63,200 shares of the firm’s stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $96.00, for a total value of $6,067,200.00. Following the transaction, the executive vice president now directly owns 129,645 shares in the company, valued at $12,445,920. The disclosure for this sale can be found here. Insiders have sold 166,186 shares of company stock worth $15,359,524 over the last 90 days. 1.70% of the stock is currently owned by company insiders.

Abbott Laboratories Profile

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

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

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