Abbott Laboratories (NYSE:ABT) Shares Purchased by Aviance Capital Partners LLC

Aviance Capital Partners LLC raised its holdings in Abbott Laboratories (NYSE:ABT) by 133.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,779 shares of the healthcare product maker’s stock after purchasing an additional 13,009 shares during the quarter. Aviance Capital Partners LLC’s holdings in Abbott Laboratories were worth $2,589,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. LVW Advisors LLC increased its stake in Abbott Laboratories by 8.2% in the first quarter. LVW Advisors LLC now owns 6,016 shares of the healthcare product maker’s stock valued at $684,000 after purchasing an additional 455 shares during the period. Koss Olinger Consulting LLC increased its stake in Abbott Laboratories by 992.3% in the first quarter. Koss Olinger Consulting LLC now owns 44,335 shares of the healthcare product maker’s stock valued at $5,039,000 after purchasing an additional 40,276 shares during the period. SteelPeak Wealth LLC increased its stake in Abbott Laboratories by 295.8% in the first quarter. SteelPeak Wealth LLC now owns 13,009 shares of the healthcare product maker’s stock valued at $1,479,000 after purchasing an additional 9,722 shares during the period. Optas LLC increased its stake in Abbott Laboratories by 3.1% in the first quarter. Optas LLC now owns 3,500 shares of the healthcare product maker’s stock valued at $398,000 after purchasing an additional 105 shares during the period. Finally, Waterway Wealth Management LLC acquired a new position in Abbott Laboratories in the first quarter valued at $249,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Price Performance

ABT stock traded up $0.60 during trading on Monday, reaching $104.51. 677,834 shares of the company were exchanged, compared to its average volume of 5,666,137. The company has a market cap of $181.81 billion, a P/E ratio of 32.37, a PEG ratio of 2.50 and a beta of 0.72. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64. The stock’s 50 day moving average price is $104.79 and its 200 day moving average price is $110.12. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.11 and a current ratio of 1.60.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, beating 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 company had revenue of $9.96 billion for the quarter, compared to the consensus estimate of $9.88 billion. During the same quarter in the prior year, the firm earned $1.03 earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, analysts predict that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Monday, July 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Abbott Laboratories in a report on Thursday, May 30th. They issued a “buy” rating and a $121.00 target price on the stock. Citigroup lowered their target price on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Evercore ISI lifted their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $125.00 target price on shares of Abbott Laboratories in a report on Tuesday, June 4th. Finally, Barclays lowered their target price on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a report on Monday, April 22nd. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $120.64.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, 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 sale, the executive vice president now owns 211,341 shares of the company’s stock, valued at $22,099,928.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Jr. Robert E. Funck sold 10,097 shares of the business’s 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 completion of the transaction, the executive vice president now owns 211,341 shares of the company’s stock, valued at $22,099,928.37. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 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 transaction of $2,428,025.00. Following the completion of the transaction, 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. Insiders own 0.47% of the company’s stock.

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.