CBIZ Investment Advisory Services LLC Raises Stock Holdings in Abbott Laboratories (NYSE:ABT)

CBIZ Investment Advisory Services LLC boosted its stake in Abbott Laboratories (NYSE:ABT) by 312.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 911 shares of the healthcare product maker’s stock after buying an additional 690 shares during the period. CBIZ Investment Advisory Services LLC’s holdings in Abbott Laboratories were worth $121,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Mowery & Schoenfeld Wealth Management LLC grew its position in shares of Abbott Laboratories by 50.4% during the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 424 shares of the healthcare product maker’s stock worth $56,000 after buying an additional 142 shares in the last quarter. Elyxium Wealth LLC acquired a new position in shares of Abbott Laboratories during the first quarter worth about $348,000. OneAscent Family Office LLC grew its position in shares of Abbott Laboratories by 141.4% during the first quarter. OneAscent Family Office LLC now owns 4,796 shares of the healthcare product maker’s stock worth $636,000 after buying an additional 2,809 shares in the last quarter. Berkeley Capital Partners LLC acquired a new position in shares of Abbott Laboratories during the first quarter worth about $236,000. Finally, AustralianSuper Pty Ltd acquired a new position in shares of Abbott Laboratories during the first quarter worth about $724,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Abbott Laboratories

In related news, Director Sally E. Blount sold 2,600 shares of the business’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 completion of the transaction, the director owned 34,058 shares in the company, 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 corporate insiders.

Abbott Laboratories Stock Performance

Abbott Laboratories stock opened at $123.81 on Friday. The stock’s 50-day moving average is $132.98 and its 200-day moving average is $129.56. The company has a market cap of $215.41 billion, a price-to-earnings ratio of 15.52, a price-to-earnings-growth ratio of 2.35 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. Abbott Laboratories has a 12 month low of $99.92 and a 12 month high of $141.23.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, meeting the consensus estimate of $1.26. The business had revenue of $11.14 billion for the quarter, compared to the consensus estimate of $11.01 billion. Abbott Laboratories had a return on equity of 18.83% and a net margin of 32.43%. The company’s revenue was up 7.4% on a year-over-year basis. During the same period last year, the business posted $1.14 EPS. Equities analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be given a $0.59 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.91%. Abbott Laboratories’s payout ratio is 30.61%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ABT. Wells Fargo & Company lowered their price target on Abbott Laboratories from $147.00 to $142.00 and set an “overweight” rating for the company in a report on Friday. BTIG Research lowered their price target on Abbott Laboratories from $148.00 to $145.00 and set a “buy” rating for the company in a report on Friday. Raymond James Financial lowered their price target on Abbott Laboratories from $142.00 to $141.00 and set an “outperform” rating for the company in a report on Friday. Stifel Nicolaus upped their price target on Abbott Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, April 17th. Finally, Jefferies Financial Group raised Abbott Laboratories from a “hold” rating to a “buy” rating and increased their price objective for the company from $143.00 to $145.00 in a report on Friday. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Abbott Laboratories has an average rating of “Moderate Buy” and an average target price of $144.47.

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.