Advisors Preferred LLC Purchases Shares of 13,000 Abbott Laboratories (NYSE:ABT)

Advisors Preferred LLC acquired a new position in shares of Abbott Laboratories (NYSE:ABT) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 13,000 shares of the healthcare product maker’s stock, valued at approximately $1,712,000.

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

Abbott Laboratories Stock Performance

Shares of ABT opened at $125.90 on Wednesday. The company has a market capitalization of $219.05 billion, a PE ratio of 15.78, a price-to-earnings-growth ratio of 2.36 and a beta of 0.73. Abbott Laboratories has a one year low of $99.92 and a one year high of $141.23. 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’s fifty day moving average price is $132.98 and its 200 day moving average price is $129.68.

Abbott Laboratories (NYSE:ABT) last posted its 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. The business had revenue of $11.14 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.14 earnings per share. As a group, analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Tuesday, July 15th. Abbott Laboratories’s payout ratio is 29.57%.

Analysts Set New Price Targets

Several research firms have issued reports on ABT. Morgan Stanley raised their price target on shares of Abbott Laboratories from $127.00 to $137.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 15th. 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. Royal Bank Of Canada upped their target price on Abbott Laboratories from $145.00 to $147.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 15th. Stifel Nicolaus boosted their price objective on Abbott Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. Finally, Mizuho boosted their price objective on Abbott Laboratories from $130.00 to $140.00 and gave the company a “neutral” rating in a research report on Wednesday, July 16th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $144.47.

Insider Buying and Selling

In related news, Director Sally E. Blount sold 2,600 shares of the company’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 transaction, the director owned 34,058 shares in the company, valued at approximately $4,415,960.28. This represents a 7.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.46% of the company’s stock.

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.