Abbott Laboratories (NYSE:ABT) Shares Bought by Community Financial Services Group LLC

Community Financial Services Group LLC boosted its position in shares of Abbott Laboratories (NYSE:ABT) by 9.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,628 shares of the healthcare product maker’s stock after buying an additional 414 shares during the period. Community Financial Services Group LLC’s holdings in Abbott Laboratories were worth $614,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Redwood Park Advisors LLC acquired a new position in shares of Abbott Laboratories in the fourth quarter valued at approximately $25,000. Noble Wealth Management PBC acquired a new position in shares of Abbott Laboratories in the fourth quarter valued at approximately $26,000. NewSquare Capital LLC increased its holdings in shares of 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 purchasing an additional 105 shares during the period. WealthTrak Capital Management LLC acquired a new position in shares of Abbott Laboratories in the fourth quarter valued at approximately $28,000. Finally, Rialto Wealth Management LLC acquired a new position in shares of Abbott Laboratories in the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Transactions at Abbott Laboratories

In other news, Director Sally E. Blount sold 2,600 shares of the business’s stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total value of $337,116.00. Following the completion of the transaction, 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 through the SEC website. Insiders own 0.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Leerink Partners assumed coverage on Abbott Laboratories in a report on Monday, June 16th. They issued a “market perform” rating and a $143.00 target price on the stock. Bank of America boosted their target price on Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a report on Monday, March 10th. Leerink Partnrs upgraded Abbott Laboratories to a “hold” rating in a research note on Monday, June 16th. Morgan Stanley lifted their price target on Abbott Laboratories from $117.00 to $127.00 and gave the company an “equal weight” rating in a research note on Thursday, April 17th. Finally, Jefferies Financial Group lifted their price target on Abbott Laboratories from $135.00 to $137.00 and gave the company a “hold” rating in a research note on Thursday, April 17th. Six equities research 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $142.61.

Abbott Laboratories Stock Up 0.2%

ABT opened at $133.26 on Tuesday. The business’s fifty day moving average is $132.30 and its two-hundred day moving average is $127.16. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.27 and a current ratio of 1.78. The company has a market cap of $231.85 billion, a price-to-earnings ratio of 17.28, a PEG ratio of 2.53 and a beta of 0.73. Abbott Laboratories has a one year low of $99.71 and a one year high of $141.23.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. The company had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.38 billion. Abbott Laboratories had a return on equity of 19.01% and a net margin of 31.89%. Analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be issued a $0.59 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.77%. Abbott Laboratories’s dividend payout ratio (DPR) is 30.61%.

Abbott Laboratories Company 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.