2,341 Shares in Abbott Laboratories (NYSE:ABT) Bought by TFB Advisors LLC

TFB Advisors LLC purchased a new position in Abbott Laboratories (NYSE:ABT) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,341 shares of the healthcare product maker’s stock, valued at approximately $249,000.

Other large investors also recently bought and sold shares of the company. Norges Bank bought a new position in Abbott Laboratories during the fourth quarter valued at $2,115,836,000. Capital Research Global Investors increased its position in Abbott Laboratories by 9.5% during the fourth quarter. Capital Research Global Investors now owns 86,588,614 shares of the healthcare product maker’s stock valued at $9,530,825,000 after acquiring an additional 7,527,778 shares during the last quarter. Boston Partners increased its position in Abbott Laboratories by 12,577.8% during the fourth quarter. Boston Partners now owns 3,772,670 shares of the healthcare product maker’s stock valued at $415,948,000 after acquiring an additional 3,742,912 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Abbott Laboratories by 41.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 5,009,838 shares of the healthcare product maker’s stock valued at $551,434,000 after acquiring an additional 1,477,671 shares during the last quarter. Finally, Capital International Investors boosted its stake in shares of Abbott Laboratories by 2.3% during the fourth quarter. Capital International Investors now owns 64,294,784 shares of the healthcare product maker’s stock valued at $7,077,148,000 after purchasing an additional 1,457,847 shares during the period. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Up 1.3 %

Shares of ABT stock traded up $1.37 during mid-day trading on Wednesday, hitting $103.01. 6,598,893 shares of the stock traded hands, compared to its average volume of 5,664,036. The stock has a market cap of $179.20 billion, a P/E ratio of 31.83, a P/E/G ratio of 2.46 and a beta of 0.72. The stock’s fifty day moving average is $104.18 and its two-hundred day moving average is $109.85. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.11.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, beating the consensus estimate of $0.96 by $0.02. The business had revenue of $9.96 billion during the quarter, compared to analyst estimates of $9.88 billion. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.03 earnings per share. Equities analysts predict that Abbott Laboratories will post 4.62 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Monday, July 15th. Abbott Laboratories’s payout ratio is 68.54%.

Insider Buying and Selling at Abbott Laboratories

In other news, EVP Lisa D. Earnhardt sold 22,852 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the transaction, the executive vice president now owns 61,462 shares in the company, valued at $6,530,337.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Lisa D. Earnhardt sold 22,852 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $106.25, for a total value of $2,428,025.00. Following the transaction, the executive vice president now owns 61,462 shares in the company, valued at approximately $6,530,337.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Jr. Robert E. Funck sold 10,097 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $104.57, for a total transaction of $1,055,843.29. Following the completion of the transaction, the executive vice president now owns 211,341 shares in the company, valued at approximately $22,099,928.37. The disclosure for this sale can be found here. Insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ABT shares. Barclays lowered their target price on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a research note on Monday, April 22nd. Citigroup lowered their target price on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Royal Bank of Canada reissued an “outperform” rating and set a $125.00 target price on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Evercore ISI lowered their target price on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Finally, The Goldman Sachs Group assumed coverage on shares of Abbott Laboratories in a research note on Thursday, May 30th. They set a “buy” rating and a $121.00 target price for the company. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus target price of $120.18.

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.