Rice Partnership LLC decreased its holdings in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 1.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,788 shares of the healthcare product maker’s stock after selling 181 shares during the quarter. Rice Partnership LLC’s holdings in Abbott Laboratories were worth $2,227,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the business. Argentarii LLC acquired a new stake in shares of Abbott Laboratories during the first quarter worth $236,000. McGlone Suttner Wealth Management Inc. boosted its holdings in Abbott Laboratories by 1.0% in the first quarter. McGlone Suttner Wealth Management Inc. now owns 8,966 shares of the healthcare product maker’s stock valued at $1,189,000 after acquiring an additional 85 shares during the last quarter. Sierra Ocean LLC boosted its holdings in Abbott Laboratories by 24.0% in the first quarter. Sierra Ocean LLC now owns 842 shares of the healthcare product maker’s stock valued at $112,000 after acquiring an additional 163 shares during the last quarter. Concurrent Investment Advisors LLC boosted its holdings in Abbott Laboratories by 19.7% in the first quarter. Concurrent Investment Advisors LLC now owns 60,709 shares of the healthcare product maker’s stock valued at $8,053,000 after acquiring an additional 9,998 shares during the last quarter. Finally, Jackson Thornton Wealth Management LLC acquired a new position in Abbott Laboratories in the first quarter valued at $208,000. Institutional investors and hedge funds own 75.18% of the company’s stock.
Abbott Laboratories Stock Down 0.3%
Shares of NYSE ABT opened at $133.70 on Friday. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23. The firm has a market cap of $232.61 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 2.55 and a beta of 0.73. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.27 and a current ratio of 1.78. The stock’s 50-day simple moving average is $133.29 and its 200-day simple moving average is $128.41.
Abbott Laboratories Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Tuesday, July 15th. Abbott Laboratories’s dividend payout ratio is currently 30.61%.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on ABT. Stifel Nicolaus lifted their target price on Abbott Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, April 17th. Bank of America lifted their target price on Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a report on Monday, March 10th. Piper Sandler reiterated an “overweight” rating and issued a $145.00 target price (up previously from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. Morgan Stanley lifted their target price on Abbott Laboratories from $117.00 to $127.00 and gave the company an “equal weight” rating in a report on Thursday, April 17th. Finally, Raymond James Financial raised their price objective on Abbott Laboratories from $132.00 to $142.00 and gave the company an “outperform” rating in a research report on Thursday, April 17th. Six analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $142.61.
Read Our Latest Research Report on ABT
Insiders Place Their Bets
In related news, Director Sally E. Blount sold 2,600 shares of the business’s stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total value of $337,116.00. Following the completion of the sale, the director directly owned 34,058 shares of the company’s stock, valued at $4,415,960.28. The trade was a 7.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.46% of the stock is currently 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.
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