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

Valeo Financial Advisors LLC raised its position in Abbott Laboratories (NYSE:ABT) by 2.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,298 shares of the healthcare product maker’s stock after acquiring an additional 809 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Abbott Laboratories were worth $4,284,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Abound Financial LLC purchased a new stake in shares of Abbott Laboratories during the 1st quarter worth approximately $28,000. Redwood Park Advisors LLC purchased a new stake in shares of Abbott Laboratories during the 4th quarter worth approximately $25,000. JCIC Asset Management Inc. purchased a new stake in Abbott Laboratories in the 1st quarter valued at $32,000. WealthTrak Capital Management LLC purchased a new stake in Abbott Laboratories in the 4th quarter valued at $28,000. Finally, Rialto Wealth Management LLC purchased a new stake in Abbott Laboratories in the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insider Activity

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the firm’s stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total transaction of $337,116.00. Following the sale, the director directly owned 34,058 shares of the company’s stock, valued at $4,415,960.28. This trade represents a 7.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.46% of the stock is owned by corporate insiders.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $134.15 on Tuesday. The stock has a market cap of $233.39 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 2.55 and a beta of 0.73. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $141.23. The company’s 50-day moving average price is $133.38 and its 200 day moving average price is $128.66. The company has a current ratio of 1.78, a quick ratio of 1.27 and a debt-to-equity ratio of 0.26.

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, beating analysts’ consensus estimates of $1.07 by $0.02. Abbott Laboratories had a net margin of 31.89% and a return on equity of 19.01%. The firm had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.38 billion. As a group, research analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.76%. Abbott Laboratories’s dividend payout ratio is currently 30.61%.

Wall Street Analyst Weigh In

Several analysts recently commented on ABT shares. Leerink Partnrs upgraded shares of Abbott Laboratories to a “hold” rating in a research report on Monday, June 16th. Piper Sandler restated an “overweight” rating and set a $145.00 price objective (up previously from $133.00) on shares of Abbott Laboratories in a research report on Thursday, April 17th. Leerink Partners began coverage on shares of Abbott Laboratories in a research report on Monday, June 16th. They set a “market perform” rating and a $143.00 price objective for the company. Raymond James Financial upped their price objective on shares of Abbott Laboratories from $132.00 to $142.00 and gave the stock an “outperform” rating in a research report on Thursday, April 17th. Finally, Bank of America upped their price objective on shares of Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $143.11.

About Abbott Laboratories

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.