Capital Planning Advisors LLC lessened its stake in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 0.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,786 shares of the healthcare product maker’s stock after selling 243 shares during the period. Capital Planning Advisors LLC’s holdings in Abbott Laboratories were worth $6,074,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Cim LLC lifted its holdings in Abbott Laboratories by 0.4% during the 4th quarter. Cim LLC now owns 16,967 shares of the healthcare product maker’s stock worth $1,919,000 after buying an additional 73 shares during the period. Capital Square LLC lifted its holdings in Abbott Laboratories by 2.7% during the 4th quarter. Capital Square LLC now owns 2,941 shares of the healthcare product maker’s stock worth $368,000 after buying an additional 77 shares during the period. Consilium Wealth Advisory LLC lifted its holdings in Abbott Laboratories by 2.1% during the 1st quarter. Consilium Wealth Advisory LLC now owns 3,822 shares of the healthcare product maker’s stock worth $507,000 after buying an additional 78 shares during the period. Mayflower Financial Advisors LLC lifted its holdings in Abbott Laboratories by 0.5% during the 1st quarter. Mayflower Financial Advisors LLC now owns 17,327 shares of the healthcare product maker’s stock worth $2,298,000 after buying an additional 78 shares during the period. Finally, Opes Wealth Management LLC lifted its holdings in Abbott Laboratories by 2.9% during the 1st quarter. Opes Wealth Management LLC now owns 2,854 shares of the healthcare product maker’s stock worth $379,000 after buying an additional 80 shares during the period. Institutional investors own 75.18% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on ABT. Royal Bank Of Canada boosted their price objective on Abbott Laboratories from $145.00 to $147.00 and gave the company an “outperform” rating in a research note on Tuesday, July 15th. William Blair raised Abbott Laboratories to a “strong-buy” rating in a research report on Thursday, July 17th. Evercore ISI boosted their target price on Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, July 8th. Barclays boosted their target price on Abbott Laboratories from $158.00 to $159.00 and gave the company an “overweight” rating in a research report on Thursday, April 17th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $145.00 target price (up from $133.00) on shares of Abbott Laboratories in a research report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus target price of $144.47.
Abbott Laboratories Price Performance
Abbott Laboratories stock opened at $134.41 on Monday. Abbott Laboratories has a 12 month low of $107.11 and a 12 month high of $141.23. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. The business’s 50 day simple moving average is $131.69 and its 200 day simple moving average is $131.12. The company has a market cap of $233.93 billion, a price-to-earnings ratio of 16.84, a PEG ratio of 2.55 and a beta of 0.70.
Abbott Laboratories (NYSE:ABT – Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, meeting the consensus estimate of $1.26. The business had revenue of $11.14 billion for the quarter, compared to the consensus estimate of $11.01 billion. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%. Abbott Laboratories’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.14 earnings per share. Sell-side analysts forecast that Abbott Laboratories will post 5.14 EPS for the current year.
Abbott Laboratories Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, July 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.8%. Abbott Laboratories’s dividend payout ratio is currently 29.57%.
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.
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