Abbott Laboratories (NYSE:ABT) Shares Purchased by Claro Advisors LLC

Claro Advisors LLC grew its holdings in shares of Abbott Laboratories (NYSE:ABT) by 3.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,544 shares of the healthcare product maker’s stock after purchasing an additional 297 shares during the quarter. Claro Advisors LLC’s holdings in Abbott Laboratories were worth $971,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Alliance Wealth Advisors LLC UT raised its holdings in Abbott Laboratories by 0.4% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 25,085 shares of the healthcare product maker’s stock valued at $2,761,000 after buying an additional 92 shares during the period. Rappaport Reiches Capital Management LLC boosted its stake in shares of Abbott Laboratories by 0.8% in the fourth quarter. Rappaport Reiches Capital Management LLC now owns 12,287 shares of the healthcare product maker’s stock valued at $1,352,000 after purchasing an additional 94 shares during the period. Avion Wealth grew its holdings in Abbott Laboratories by 19.4% during the 4th quarter. Avion Wealth now owns 591 shares of the healthcare product maker’s stock valued at $65,000 after purchasing an additional 96 shares in the last quarter. Wynn Capital LLC lifted its holdings in Abbott Laboratories by 2.9% in the 1st quarter. Wynn Capital LLC now owns 3,427 shares of the healthcare product maker’s stock worth $390,000 after buying an additional 98 shares in the last quarter. Finally, Berger Financial Group Inc grew its stake in shares of Abbott Laboratories by 3.0% during the fourth quarter. Berger Financial Group Inc now owns 3,423 shares of the healthcare product maker’s stock valued at $377,000 after acquiring an additional 99 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Stock Performance

Shares of NYSE ABT opened at $103.20 on Tuesday. Abbott Laboratories has a 12-month low of $89.67 and a 12-month high of $121.64. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.32. The company has a market cap of $179.53 billion, a PE ratio of 32.15, a P/E/G ratio of 2.50 and a beta of 0.72. The stock has a 50 day simple moving average of $104.79 and a 200-day simple moving average of $110.12.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. The business had revenue of $9.96 billion for the quarter, compared to analysts’ expectations of $9.88 billion. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. The company’s revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.03 earnings per share. On average, equities research analysts forecast that Abbott Laboratories will post 4.62 EPS for the current year.

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders 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 2.13%. The ex-dividend date is Monday, July 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ABT. Barclays reduced their price target on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a report on Monday, April 22nd. Evercore ISI lifted their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Royal Bank of Canada reissued an “outperform” rating and set a $125.00 price objective on shares of Abbott Laboratories in a report on Tuesday, June 4th. The Goldman Sachs Group began coverage on shares of Abbott Laboratories in a research report on Thursday, May 30th. They set a “buy” rating and a $121.00 price target on the stock. Finally, Raymond James restated a “buy” rating and set a $124.00 price objective on shares of Abbott Laboratories in a research note on Wednesday, April 24th. 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 presently has an average rating of “Moderate Buy” and a consensus price target of $120.64.

Insider Transactions at Abbott Laboratories

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

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.