Resonant Capital Advisors LLC Increases Position in Abbott Laboratories (NYSE:ABT)

Resonant Capital Advisors LLC increased its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,669 shares of the healthcare product maker’s stock after buying an additional 154 shares during the period. Resonant Capital Advisors LLC’s holdings in Abbott Laboratories were worth $1,813,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. LaFleur & Godfrey LLC increased its holdings in Abbott Laboratories by 23.5% during the 4th quarter. LaFleur & Godfrey LLC now owns 82,443 shares of the healthcare product maker’s stock valued at $9,325,000 after acquiring an additional 15,692 shares in the last quarter. Brighton Jones LLC raised its holdings in shares of Abbott Laboratories by 10.1% in the fourth quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker’s stock worth $5,850,000 after acquiring an additional 4,755 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its position in shares of Abbott Laboratories by 1.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker’s stock valued at $17,274,000 after acquiring an additional 2,774 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in Abbott Laboratories during the 4th quarter worth about $449,000. Finally, Steward Partners Investment Advisory LLC raised its stake in Abbott Laboratories by 8.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 144,900 shares of the healthcare product maker’s stock valued at $16,390,000 after purchasing an additional 11,784 shares during the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Abbott Laboratories 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 sale, the director owned 34,058 shares in the company, valued at $4,415,960.28. This represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ABT shares. Bank of America lifted their price target on shares of Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Barclays boosted their price target on Abbott Laboratories from $158.00 to $159.00 and gave the company an “overweight” rating in a report on Thursday, April 17th. Wells Fargo & Company lifted their price objective on Abbott Laboratories from $136.00 to $147.00 and gave the company an “overweight” rating in a research report on Thursday, April 17th. Leerink Partners initiated coverage on Abbott Laboratories in a research report on Monday, June 16th. They set a “market perform” rating and a $143.00 target price on the stock. Finally, Leerink Partnrs raised Abbott Laboratories to a “hold” rating in a research note on Monday, June 16th. Six investment 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $142.61.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $134.08 on Thursday. The company’s fifty day simple moving average is $133.11 and its 200-day simple moving average is $128.01. The company has a current ratio of 1.78, a quick ratio of 1.27 and a debt-to-equity ratio of 0.26. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $141.23. The company has a market cap of $233.28 billion, a PE ratio of 17.39, a P/E/G ratio of 2.59 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last announced 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%. As a group, equities research analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, July 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.76%. Abbott Laboratories’s payout ratio is 30.61%.

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.