Broderick Brian C Has $16.79 Million Stock Holdings in Abbott Laboratories (NYSE:ABT)

Broderick Brian C raised its holdings in Abbott Laboratories (NYSE:ABT) by 0.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 126,566 shares of the healthcare product maker’s stock after buying an additional 480 shares during the quarter. Abbott Laboratories comprises 3.4% of Broderick Brian C’s holdings, making the stock its 9th largest position. Broderick Brian C’s holdings in Abbott Laboratories were worth $16,789,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Redwood Park Advisors LLC purchased a new position in Abbott Laboratories during the fourth quarter valued at approximately $25,000. Noble Wealth Management PBC acquired a new stake in shares of Abbott Laboratories during the 4th quarter worth approximately $26,000. NewSquare Capital LLC increased its holdings in shares of Abbott Laboratories by 78.4% during the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock valued at $27,000 after purchasing an additional 105 shares in the last quarter. WealthTrak Capital Management LLC purchased a new position in shares of Abbott Laboratories during the 4th quarter valued at approximately $28,000. Finally, Rialto Wealth Management LLC acquired a new position in Abbott Laboratories in the 4th quarter worth about $29,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Trading Down 1.4%

Shares of NYSE ABT opened at $132.18 on Wednesday. The company has a current ratio of 1.78, a quick ratio of 1.27 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $229.97 billion, a PE ratio of 17.14, a PEG ratio of 2.53 and a beta of 0.73. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $141.23. The stock has a fifty day simple moving average of $131.80 and a 200-day simple moving average of $126.62.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.02. The company had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.38 billion. Abbott Laboratories had a return on equity of 19.01% and a net margin of 31.89%. On average, equities analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.79%. The ex-dividend date is Tuesday, July 15th. Abbott Laboratories’s payout ratio is currently 30.61%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ABT shares. Citigroup raised their price objective on shares of Abbott Laboratories from $135.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Leerink Partners started coverage on shares of Abbott Laboratories in a research note on Monday. They issued a “market perform” rating and a $143.00 price target for the company. Raymond James Financial lifted their price target on shares of Abbott Laboratories from $132.00 to $142.00 and gave the company an “outperform” rating in a research report on Thursday, April 17th. Royal Bank Of Canada upped their price objective on Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” rating in a report on Thursday, April 17th. Finally, Stifel Nicolaus raised their target price on Abbott Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, April 17th. Six investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus target price of $142.61.

Insiders Place Their Bets

In related news, Director Sally E. Blount sold 2,600 shares of the business’s stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total transaction of $337,116.00. Following the completion of the transaction, the director now directly owns 34,058 shares of the company’s stock, valued at $4,415,960.28. The trade was a 7.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.46% of the stock is owned by company insiders.

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.