Valeo Financial Advisors LLC Has $3.51 Million Position in Abbott Laboratories (NYSE:ABT)

Valeo Financial Advisors LLC lifted its holdings in Abbott Laboratories (NYSE:ABT) by 1.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,876 shares of the healthcare product maker’s stock after buying an additional 318 shares during the period. Valeo Financial Advisors LLC’s holdings in Abbott Laboratories were worth $3,509,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Tradewinds Capital Management LLC increased its holdings in shares of Abbott Laboratories by 441.2% during the 1st quarter. Tradewinds Capital Management LLC now owns 2,625 shares of the healthcare product maker’s stock valued at $298,000 after acquiring an additional 2,140 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Abbott Laboratories by 3.3% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,331,760 shares of the healthcare product maker’s stock valued at $606,008,000 after purchasing an additional 172,465 shares during the last quarter. Naviter Wealth LLC raised its position in shares of Abbott Laboratories by 27.7% in the first quarter. Naviter Wealth LLC now owns 21,633 shares of the healthcare product maker’s stock valued at $2,459,000 after purchasing an additional 4,695 shares during the period. Verum Partners LLC bought a new stake in shares of Abbott Laboratories during the 1st quarter worth $207,000. Finally, Buffington Mohr McNeal raised its holdings in Abbott Laboratories by 1.9% in the 1st quarter. Buffington Mohr McNeal now owns 93,234 shares of the healthcare product maker’s stock worth $10,597,000 after acquiring an additional 1,695 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Lisa D. Earnhardt sold 22,852 shares of the firm’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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Jr. Robert E. Funck sold 10,097 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $104.57, for a total transaction of $1,055,843.29. Following 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 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 $6,530,337.50. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Evercore ISI lowered their price target on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Tuesday. Raymond James restated a “buy” rating and issued a $124.00 price target on shares of Abbott Laboratories in a research report on Wednesday, April 24th. The Goldman Sachs Group started coverage on shares of Abbott Laboratories in a research report on Thursday, May 30th. They set a “buy” rating and a $121.00 price objective for the company. Royal Bank of Canada reissued an “outperform” rating and set a $125.00 target price on shares of Abbott Laboratories in a research report on Tuesday, June 4th. Finally, Citigroup decreased their price objective on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $120.18.

Abbott Laboratories Trading Down 0.8 %

ABT stock traded down $0.87 during midday trading on Wednesday, hitting $102.33. 2,016,716 shares of the company’s stock were exchanged, compared to its average volume of 5,653,503. Abbott Laboratories has a one year low of $89.67 and a one year high of $121.64. 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 company has a market cap of $178.02 billion, a PE ratio of 31.99, a price-to-earnings-growth ratio of 2.50 and a beta of 0.72. The stock’s fifty day moving average price is $104.63 and its 200-day moving average price is $110.05.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data 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. The business had revenue of $9.96 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.03 EPS. Research analysts predict that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, July 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.15%. Abbott Laboratories’s payout ratio is 68.54%.

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.