Campbell Newman Asset Management Inc. Boosts Stock Holdings in Abbott Laboratories (NYSE:ABT)

Campbell Newman Asset Management Inc. increased its position in shares of Abbott Laboratories (NYSE:ABT) by 99.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 241,828 shares of the healthcare product maker’s stock after purchasing an additional 120,325 shares during the period. Abbott Laboratories makes up approximately 2.7% of Campbell Newman Asset Management Inc.’s portfolio, making the stock its 14th largest position. Campbell Newman Asset Management Inc.’s holdings in Abbott Laboratories were worth $32,078,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Redwood Park Advisors LLC purchased a new position in Abbott Laboratories in the fourth quarter valued at about $25,000. Noble Wealth Management PBC purchased a new position in Abbott Laboratories in the fourth quarter valued at about $26,000. NewSquare Capital LLC increased its holdings in Abbott Laboratories by 78.4% in the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock valued at $27,000 after buying an additional 105 shares in the last quarter. WealthTrak Capital Management LLC purchased a new position in Abbott Laboratories in the fourth quarter valued at about $28,000. Finally, Rialto Wealth Management LLC purchased a new position in Abbott Laboratories in the fourth quarter valued at about $29,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Performance

Abbott Laboratories stock opened at $135.41 on Friday. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $141.23. The company has a market capitalization of $235.59 billion, a price-to-earnings ratio of 17.70, a price-to-earnings-growth ratio of 2.52 and a beta of 0.73. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The firm’s fifty day moving average price is $131.50 and its 200 day moving average price is $126.37.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.02. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The firm had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.38 billion. On average, research analysts forecast that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company 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 $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.74%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 30.61%.

Wall Street Analyst Weigh In

ABT has been the topic of several research reports. Raymond James increased their price target on shares of Abbott Laboratories from $132.00 to $142.00 and gave the company an “outperform” rating in a research report on Thursday, April 17th. Jefferies Financial Group increased their price target on shares of Abbott Laboratories from $135.00 to $137.00 and gave the company a “hold” rating in a research report on Thursday, April 17th. Piper Sandler reiterated an “overweight” rating and issued a $145.00 price target (up from $133.00) on shares of Abbott Laboratories in a research report on Thursday, April 17th. The Goldman Sachs Group raised their target price on shares of Abbott Laboratories from $138.00 to $154.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Finally, Morgan Stanley raised their target price on shares of Abbott Laboratories from $117.00 to $127.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $142.59.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the business’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 sale, the director now directly owns 34,058 shares of the company’s stock, valued at $4,415,960.28. The trade was a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.46% of the stock is currently 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.