Gold Investment Management Ltd. Acquires 107 Shares of Abbott Laboratories (NYSE:ABT)

Gold Investment Management Ltd. grew its holdings in Abbott Laboratories (NYSE:ABT) by 1.0% during the 1st quarter, HoldingsChannel reports. The firm owned 10,363 shares of the healthcare product maker’s stock after purchasing an additional 107 shares during the quarter. Gold Investment Management Ltd.’s holdings in Abbott Laboratories were worth $1,375,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of ABT. Redwood Park Advisors LLC bought a new stake in Abbott Laboratories during the 4th quarter worth $25,000. Noble Wealth Management PBC bought a new stake in Abbott Laboratories during the 4th quarter worth $26,000. NewSquare Capital LLC grew its position in Abbott Laboratories by 78.4% during the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock worth $27,000 after acquiring an additional 105 shares during the last quarter. WealthTrak Capital Management LLC bought a new stake in Abbott Laboratories during the 4th quarter worth $28,000. Finally, Rialto Wealth Management LLC bought a new stake in Abbott Laboratories during the 4th quarter worth $29,000. Institutional investors own 75.18% of the company’s stock.

Insider Buying and Selling

In related news, Director Sally E. Blount sold 2,600 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 34,058 shares of the company’s stock, valued at approximately $4,415,960.28. This represents a 7.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.46% of the stock is owned by company insiders.

Abbott Laboratories Stock Up 0.5%

Shares of NYSE:ABT opened at $134.40 on Friday. The company has a market capitalization of $233.83 billion, a price-to-earnings ratio of 17.43, a P/E/G ratio of 2.54 and a beta of 0.73. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.78 and a quick ratio of 1.27. The business’s 50-day moving average is $132.82 and its 200-day moving average is $127.56. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. The company had revenue of $10.36 billion for 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%. Equities research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend is Tuesday, July 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 30.61%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Stifel Nicolaus boosted their price objective on Abbott Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. Leerink Partners assumed coverage on Abbott Laboratories in a research report on Monday, June 16th. They set a “market perform” rating and a $143.00 price objective on the stock. Raymond James Financial boosted their price objective on Abbott Laboratories from $132.00 to $142.00 and gave the stock an “outperform” rating in a research report on Thursday, April 17th. The Goldman Sachs Group upped their price target on Abbott Laboratories from $138.00 to $154.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $145.00 price target (up previously from $133.00) on shares of Abbott Laboratories in a research report on Thursday, April 17th. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.61.

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.