First Command Advisory Services Inc. Acquires 931 Shares of Abbott Laboratories (NYSE:ABT)

First Command Advisory Services Inc. increased its position in shares of Abbott Laboratories (NYSE:ABT) by 9.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,526 shares of the healthcare product maker’s stock after acquiring an additional 931 shares during the quarter. First Command Advisory Services Inc.’s holdings in Abbott Laboratories were worth $1,396,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Redwood Park Advisors LLC bought a new position in Abbott Laboratories during the 4th quarter worth approximately $25,000. Hughes Financial Services LLC bought a new position in Abbott Laboratories during the 1st quarter worth approximately $27,000. WealthTrak Capital Management LLC bought a new position in Abbott Laboratories in the fourth quarter valued at approximately $28,000. Abound Financial LLC bought a new position in Abbott Laboratories in the first quarter valued at approximately $28,000. Finally, Wormser Freres Gestion bought a new position in Abbott Laboratories in the fourth quarter valued at approximately $32,000. Institutional investors own 75.18% of the company’s stock.

Insider Activity

In other news, Director Sally E. Blount sold 2,600 shares of the business’s stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total value 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. The trade was a 7.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.46% of the company’s stock.

Abbott Laboratories Trading Up 0.0%

ABT stock opened at $132.05 on Tuesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.78 and a quick ratio of 1.27. The company has a fifty day moving average price of $133.51 and a two-hundred day moving average price of $129.29. Abbott Laboratories has a one year low of $99.71 and a one year high of $141.23. The stock has a market cap of $229.74 billion, a price-to-earnings ratio of 17.13, a price-to-earnings-growth ratio of 2.51 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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. The company had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.38 billion. Abbott Laboratories had a net margin of 31.89% and a return on equity of 19.01%. Equities analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The firm 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 of this dividend is Tuesday, July 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.79%. Abbott Laboratories’s payout ratio is presently 30.61%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $145.00 price target (up previously from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. Jefferies Financial Group lifted their price objective on shares of Abbott Laboratories from $135.00 to $137.00 and gave the company a “hold” rating in a report on Thursday, April 17th. Leerink Partnrs upgraded shares of Abbott Laboratories to a “hold” rating in a report on Monday, June 16th. Evercore ISI lifted their price objective on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Finally, Raymond James Financial lifted their price objective on shares of Abbott Laboratories from $132.00 to $142.00 and gave the company an “outperform” rating in a report on Thursday, April 17th. Six investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $143.11.

Abbott Laboratories 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.