Lindbrook Capital LLC Raises Holdings in Abbott Laboratories (NYSE:ABT)

Lindbrook Capital LLC increased its stake in Abbott Laboratories (NYSE:ABT) by 10.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,853 shares of the healthcare product maker’s stock after acquiring an additional 1,119 shares during the period. Lindbrook Capital LLC’s holdings in Abbott Laboratories were worth $1,572,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. J.W. Cole Advisors Inc. boosted its holdings in Abbott Laboratories by 52.3% in the 1st quarter. J.W. Cole Advisors Inc. now owns 35,669 shares of the healthcare product maker’s stock valued at $4,732,000 after purchasing an additional 12,246 shares in the last quarter. BKM Wealth Management LLC raised its position in shares of Abbott Laboratories by 7.0% during the 1st quarter. BKM Wealth Management LLC now owns 20,747 shares of the healthcare product maker’s stock worth $2,752,000 after purchasing an additional 1,352 shares during the last quarter. WNY Asset Management LLC raised its position in shares of Abbott Laboratories by 2.1% during the 1st quarter. WNY Asset Management LLC now owns 7,332 shares of the healthcare product maker’s stock worth $973,000 after purchasing an additional 153 shares during the last quarter. Montag A & Associates Inc. raised its holdings in Abbott Laboratories by 2.1% in the 1st quarter. Montag A & Associates Inc. now owns 104,841 shares of the healthcare product maker’s stock valued at $13,907,000 after acquiring an additional 2,198 shares during the last quarter. Finally, OneAscent Financial Services LLC boosted its position in Abbott Laboratories by 128.8% during the 1st quarter. OneAscent Financial Services LLC now owns 15,610 shares of the healthcare product maker’s stock worth $2,066,000 after purchasing an additional 8,786 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on ABT. Leerink Partnrs upgraded shares of Abbott Laboratories to a “hold” rating in a report on Monday, June 16th. Barclays upped their target price on shares of Abbott Laboratories from $158.00 to $159.00 and gave the stock an “overweight” rating in a research report on Thursday, April 17th. Royal Bank Of Canada increased their price objective on shares of Abbott Laboratories from $145.00 to $147.00 and gave the company an “outperform” rating in a report on Tuesday, July 15th. Mizuho raised their target price on shares of Abbott Laboratories from $130.00 to $140.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Piper Sandler restated 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. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.47.

Abbott Laboratories Trading Up 2.7%

Shares of NYSE ABT opened at $123.81 on Friday. 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 company has a market cap of $215.41 billion, a PE ratio of 15.52, a P/E/G ratio of 2.35 and a beta of 0.73. The company has a 50-day moving average of $132.98 and a two-hundred day moving average of $129.56. Abbott Laboratories has a 1-year low of $99.92 and a 1-year high of $141.23.

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

Abbott Laboratories Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.91%. Abbott Laboratories’s payout ratio is 30.61%.

Insider Activity at Abbott Laboratories

In other news, Director Sally E. Blount sold 2,600 shares of Abbott Laboratories 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 sale, the director owned 34,058 shares of the company’s stock, valued at approximately $4,415,960.28. This trade represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

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.