Greater Midwest Financial Group LLC Has $807,000 Holdings in Abbott Laboratories (NYSE:ABT)

Greater Midwest Financial Group LLC raised its position in Abbott Laboratories (NYSE:ABT) by 6.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,083 shares of the healthcare product maker’s stock after buying an additional 351 shares during the period. Greater Midwest Financial Group LLC’s holdings in Abbott Laboratories were worth $807,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ABT. Norges Bank purchased a new stake in shares of Abbott Laboratories during the 4th quarter worth approximately $2,373,461,000. T. Rowe Price Investment Management Inc. boosted its holdings in Abbott Laboratories by 383.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,358,698 shares of the healthcare product maker’s stock valued at $945,453,000 after purchasing an additional 6,628,310 shares during the period. GAMMA Investing LLC boosted its stake in Abbott Laboratories by 15,420.4% during the first quarter. GAMMA Investing LLC now owns 5,102,648 shares of the healthcare product maker’s stock valued at $676,866,000 after buying an additional 5,069,771 shares during the period. Capital International Investors boosted its stake in Abbott Laboratories by 3.4% during the fourth quarter. Capital International Investors now owns 67,972,953 shares of the healthcare product maker’s stock valued at $7,688,160,000 after buying an additional 2,229,026 shares during the period. Finally, Northern Trust Corp boosted its stake in Abbott Laboratories by 10.3% during the fourth quarter. Northern Trust Corp now owns 22,056,860 shares of the healthcare product maker’s stock valued at $2,494,851,000 after buying an additional 2,060,650 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

Abbott Laboratories stock opened at $133.64 on Friday. The stock’s 50 day simple moving average is $133.54 and its two-hundred day simple moving average is $128.86. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.27 and a current ratio of 1.78. The stock has a market cap of $232.51 billion, a price-to-earnings ratio of 17.33, a PEG ratio of 2.53 and a beta of 0.73. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $141.23.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. Abbott Laboratories had a return on equity of 19.01% and a net margin of 31.89%. The firm had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.38 billion. As a group, analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.77%. Abbott Laboratories’s dividend payout ratio is presently 30.61%.

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several brokerages have issued reports on ABT. Royal Bank Of Canada lifted their price target on Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a research note on Thursday, April 17th. Barclays lifted their price target on Abbott Laboratories from $158.00 to $159.00 and gave the stock an “overweight” rating in a research note on Thursday, April 17th. Raymond James Financial lifted their price target on Abbott Laboratories from $132.00 to $142.00 and gave the stock an “outperform” rating in a research note on Thursday, April 17th. Evercore ISI lifted their price target on Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Leerink Partners initiated coverage on Abbott Laboratories in a report on Monday, June 16th. They issued a “market perform” rating and a $143.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $143.11.

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.