Abbott Laboratories (NYSE:ABT) Stock Position Raised by L & S Advisors Inc

L & S Advisors Inc raised its holdings in Abbott Laboratories (NYSE:ABT) by 282.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 69,107 shares of the healthcare product maker’s stock after acquiring an additional 51,037 shares during the quarter. Abbott Laboratories comprises approximately 1.1% of L & S Advisors Inc’s holdings, making the stock its 18th largest position. L & S Advisors Inc’s holdings in Abbott Laboratories were worth $9,167,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Hughes Financial Services LLC acquired a new stake in Abbott Laboratories in the 1st quarter worth approximately $27,000. Abound Financial LLC acquired a new stake in Abbott Laboratories in the 1st quarter valued at approximately $28,000. Redwood Park Advisors LLC bought a new position in Abbott Laboratories during the fourth quarter worth $25,000. JCIC Asset Management Inc. acquired a new position in shares of Abbott Laboratories during the first quarter valued at about $32,000. Finally, Redmont Wealth Advisors LLC acquired a new position in Abbott Laboratories in the 1st quarter valued at approximately $34,000. 75.18% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ABT. Jefferies Financial Group upgraded shares of 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 research note on Friday, July 18th. Mizuho boosted their price objective on Abbott Laboratories from $130.00 to $140.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 16th. Evercore ISI raised their target price on Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. Leerink Partners started coverage on shares of Abbott Laboratories in a research report on Monday, June 16th. They set a “market perform” rating and a $143.00 price target on the stock. Finally, Piper Sandler reissued an “overweight” rating and set a $145.00 price objective (up previously from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus target price of $144.47.

Abbott Laboratories Trading Up 0.9%

NYSE:ABT opened at $127.32 on Friday. The firm has a market capitalization of $221.52 billion, a price-to-earnings ratio of 15.95, a PEG ratio of 2.41 and a beta of 0.70. Abbott Laboratories has a 1-year low of $107.11 and a 1-year high of $141.23. The business’s 50-day moving average price is $131.78 and its two-hundred day moving average price is $130.49. The company has a current ratio of 1.82, a quick ratio of 1.27 and a debt-to-equity ratio of 0.25.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.26. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The business had revenue of $11.14 billion for the quarter, compared to the consensus estimate of $11.01 billion. During the same period last year, the company posted $1.14 EPS. Abbott Laboratories’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, equities analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The business 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 dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.9%. Abbott Laboratories’s dividend payout ratio is currently 29.57%.

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.