Anderson Hoagland & Co. Makes New Investment in Abbott Laboratories (NYSE:ABT)

Anderson Hoagland & Co. 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 2,445 shares of the healthcare product maker’s stock, valued at approximately $272,000.

Other institutional investors have also recently made changes to their positions in the company. Alliance Wealth Advisors LLC UT increased its stake in shares of 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 worth $2,761,000 after acquiring an additional 92 shares during the last quarter. Rappaport Reiches Capital Management LLC increased its holdings in 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 worth $1,352,000 after buying an additional 94 shares during the last quarter. Avion Wealth raised its position in Abbott Laboratories by 19.4% during the fourth quarter. Avion Wealth now owns 591 shares of the healthcare product maker’s stock valued at $65,000 after acquiring an additional 96 shares in the last quarter. Wynn Capital LLC boosted its holdings in Abbott Laboratories by 2.9% in the first quarter. Wynn Capital LLC now owns 3,427 shares of the healthcare product maker’s stock worth $390,000 after purchasing an additional 98 shares in the last quarter. Finally, Berger Financial Group Inc lifted its holdings in Abbott Laboratories by 3.0% in the 4th quarter. Berger Financial Group Inc now owns 3,423 shares of the healthcare product maker’s stock worth $377,000 after purchasing an additional 99 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Shares of NYSE:ABT traded up $0.11 on Monday, hitting $105.83. The stock had a trading volume of 523,278 shares, compared to its average volume of 5,669,532. The company has a market capitalization of $184.11 billion, a price-to-earnings ratio of 32.93, a price-to-earnings-growth ratio of 2.56 and a beta of 0.74. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.11 and a current ratio of 1.60. The firm’s 50 day moving average price is $105.04 and its 200-day moving average price is $110.15. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64.

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, topping the consensus estimate of $0.96 by $0.02. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. The firm had revenue of $9.96 billion for the quarter, compared to analysts’ expectations of $9.88 billion. During the same period in the prior year, the firm earned $1.03 earnings per share. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, equities research analysts predict that Abbott Laboratories will post 4.62 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Monday, July 15th. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

Analyst Ratings Changes

ABT has been the topic of several recent analyst reports. Evercore ISI lifted their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. The Goldman Sachs Group initiated coverage on Abbott Laboratories in a research report on Thursday, May 30th. They issued a “buy” rating and a $121.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $125.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Barclays reduced their price target on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a report on Monday, April 22nd. Finally, Raymond James reaffirmed a “buy” rating and set a $124.00 price objective on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Three equities research 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 an average target price of $120.64.

Insider Buying and Selling

In other news, EVP Lisa D. Earnhardt sold 22,852 shares of the company’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 transaction of $2,428,025.00. Following the transaction, the executive vice president now directly owns 61,462 shares in the company, valued at $6,530,337.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Abbott Laboratories news, EVP Lisa D. Earnhardt sold 22,852 shares of Abbott Laboratories stock in a transaction on 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 completion of the sale, the executive vice president now owns 61,462 shares of the company’s stock, valued at approximately $6,530,337.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jr. Robert E. Funck sold 10,097 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 211,341 shares of the company’s stock, valued at $22,099,928.37. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

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.