HBK Sorce Advisory LLC Has $3.22 Million Stake in Abbott Laboratories (NYSE:ABT)

HBK Sorce Advisory LLC decreased its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 24,296 shares of the healthcare product maker’s stock after selling 394 shares during the period. HBK Sorce Advisory LLC’s holdings in Abbott Laboratories were worth $3,223,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Redwood Park Advisors LLC acquired a new position in shares of Abbott Laboratories during the 4th quarter valued at about $25,000. Noble Wealth Management PBC bought a new stake in Abbott Laboratories during the 4th quarter valued at approximately $26,000. NewSquare Capital LLC boosted its stake in Abbott Laboratories by 78.4% during the 4th 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 bought a new stake in Abbott Laboratories during the 4th quarter valued at approximately $28,000. Finally, Rialto Wealth Management LLC bought a new stake in Abbott Laboratories during the 4th quarter valued at approximately $29,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Trading Up 3.7%

Shares of ABT opened at $138.13 on Wednesday. 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 $240.32 billion, a price-to-earnings ratio of 17.92, a PEG ratio of 2.53 and a beta of 0.73. The stock has a fifty day moving average price of $132.54 and a two-hundred day moving average price of $127.23. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $141.23.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data 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 firm 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%. Analysts predict 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 paid a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.71%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 30.61%.

Insider Activity

In related news, Director Sally E. Blount sold 2,600 shares of Abbott Laboratories stock in a transaction on Wednesday, April 30th. The stock was 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 $4,415,960.28. The trade was a 7.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ABT shares. Morgan Stanley increased their target price 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. Citigroup raised their price objective on Abbott Laboratories from $135.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Royal Bank Of Canada raised their price objective on Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a research report on Thursday, April 17th. The Goldman Sachs Group raised their price objective on Abbott Laboratories from $138.00 to $154.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Finally, Raymond James Financial raised their price objective on Abbott Laboratories from $132.00 to $142.00 and gave the stock an “outperform” rating in a research report on Thursday, April 17th. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $142.61.

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.