Jaffetilchin Investment Partners LLC Increases Stock Position in Abbott Laboratories (NYSE:ABT)

Jaffetilchin Investment Partners LLC boosted its position in Abbott Laboratories (NYSE:ABT) by 7.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,170 shares of the healthcare product maker’s stock after purchasing an additional 153 shares during the period. Jaffetilchin Investment Partners LLC’s holdings in Abbott Laboratories were worth $247,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Abbott Laboratories by 5.6% in the first quarter. Vanguard Group Inc. now owns 165,301,921 shares of the healthcare product maker’s stock worth $18,788,216,000 after acquiring an additional 8,834,840 shares during the period. Capital Research Global Investors lifted its holdings in Abbott Laboratories by 9.5% during the fourth quarter. Capital Research Global Investors now owns 86,588,614 shares of the healthcare product maker’s stock valued at $9,530,825,000 after purchasing an additional 7,527,778 shares during the last quarter. Capital International Investors raised its position in shares of Abbott Laboratories by 9.1% in the first quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker’s stock valued at $7,976,382,000 after purchasing an additional 5,882,780 shares during the period. Wellington Management Group LLP lifted its stake in shares of Abbott Laboratories by 3.3% during the 4th quarter. Wellington Management Group LLP now owns 32,236,101 shares of the healthcare product maker’s stock valued at $3,548,228,000 after buying an additional 1,027,390 shares in the last quarter. Finally, Norges Bank bought a new position in Abbott Laboratories in the 4th quarter worth approximately $2,115,836,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $125.00 price target on shares of Abbott Laboratories in a report on Tuesday, June 4th. The Goldman Sachs Group initiated coverage on Abbott Laboratories in a report on Thursday, May 30th. They issued a “buy” rating and a $121.00 price objective on the stock. Raymond James reissued a “buy” rating and issued a $124.00 price target on shares of Abbott Laboratories in a report on Wednesday, April 24th. Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Citigroup dropped their price objective on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Abbott Laboratories currently has an average rating of “Moderate Buy” and an average target price of $121.00.

Abbott Laboratories Stock Down 0.0 %

ABT stock traded down $0.02 during midday trading on Friday, hitting $110.13. The company’s stock had a trading volume of 4,713,173 shares, compared to its average volume of 6,016,372. The firm’s 50-day moving average is $104.07 and its 200-day moving average is $109.08. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a 12 month low of $89.67 and a 12 month high of $121.64. The company has a market cap of $191.59 billion, a PE ratio of 34.17, a P/E/G ratio of 2.64 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.04. The company had revenue of $10.38 billion for the quarter, compared to analysts’ expectations of $10.37 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.32%. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the company posted $1.08 earnings per share. On average, equities research analysts forecast that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Monday, July 15th. Abbott Laboratories’s payout ratio is 68.54%.

Insider Activity

In other Abbott Laboratories news, EVP Jr. Robert E. Funck sold 10,097 shares of Abbott Laboratories 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 transaction, 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 is available through the SEC website. In other news, EVP Lisa D. Earnhardt sold 22,852 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $106.25, for a total value of $2,428,025.00. Following the transaction, the executive vice president now owns 61,462 shares of the company’s stock, valued at $6,530,337.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jr. Robert E. Funck sold 10,097 shares of the firm’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 transaction, the executive vice president now owns 211,341 shares of the company’s stock, valued at approximately $22,099,928.37. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Abbott Laboratories 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.