Abbott Laboratories (NYSE:ABT) Shares Bought by Graybill Wealth Management LTD.

Graybill Wealth Management LTD. boosted its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,516 shares of the healthcare product maker’s stock after purchasing an additional 477 shares during the quarter. Abbott Laboratories makes up approximately 2.2% of Graybill Wealth Management LTD.’s holdings, making the stock its 21st largest position. Graybill Wealth Management LTD.’s holdings in Abbott Laboratories were worth $5,287,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Dark Forest Capital Management LP purchased a new position in shares of Abbott Laboratories during the third quarter valued at $310,000. Clearbridge Investments LLC grew its holdings in shares of Abbott Laboratories by 0.4% during the third quarter. Clearbridge Investments LLC now owns 80,955 shares of the healthcare product maker’s stock valued at $7,840,000 after buying an additional 348 shares in the last quarter. Operose Advisors LLC purchased a new position in shares of Abbott Laboratories during the third quarter valued at $87,000. O Shaughnessy Asset Management LLC grew its stake in Abbott Laboratories by 28.3% in the third quarter. O Shaughnessy Asset Management LLC now owns 102,882 shares of the healthcare product maker’s stock valued at $9,964,000 after purchasing an additional 22,674 shares in the last quarter. Finally, Mendel Money Management grew its stake in Abbott Laboratories by 10.9% in the third quarter. Mendel Money Management now owns 2,535 shares of the healthcare product maker’s stock valued at $246,000 after purchasing an additional 250 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 0.4 %

Shares of ABT traded down $0.37 during midday trading on Thursday, hitting $104.51. The stock had a trading volume of 1,311,779 shares, compared to its average volume of 5,663,656. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.11. The company has a 50 day simple moving average of $104.87 and a two-hundred day simple moving average of $110.13. The firm has a market cap of $181.81 billion, a price-to-earnings ratio of 32.71, a price-to-earnings-growth ratio of 2.54 and a beta of 0.74. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. The business had revenue of $9.96 billion for the quarter, compared to the consensus estimate of $9.88 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.96%. Abbott Laboratories’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.03 earnings per share. On average, analysts anticipate that Abbott Laboratories will post 4.62 EPS for the current year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be paid 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 currently 68.54%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Citigroup reduced their price target on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. Evercore ISI boosted their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. The Goldman Sachs Group initiated coverage on Abbott Laboratories in a research report on Thursday, May 30th. They set a “buy” rating and a $121.00 price objective for the company. Raymond James reissued a “buy” rating and set a $124.00 price objective on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $125.00 price target on shares of Abbott Laboratories in a report on Tuesday, June 4th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $120.64.

Insiders Place Their Bets

In related news, EVP Jr. Robert E. Funck sold 10,097 shares of the stock in a transaction on Friday, May 10th. The stock was 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 in the company, valued at $22,099,928.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Jr. Robert E. Funck sold 10,097 shares of the firm’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 transaction of $1,055,843.29. Following the completion of the sale, the executive vice president now owns 211,341 shares in the company, valued at approximately $22,099,928.37. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Lisa D. Earnhardt sold 22,852 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the sale, the executive vice president now 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. Corporate insiders own 1.10% of the company’s stock.

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.