Nicolet Advisory Services LLC Increases Stock Position in Abbott Laboratories (NYSE:ABT)

Nicolet Advisory Services LLC boosted its stake in Abbott Laboratories (NYSE:ABT) by 6.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,160 shares of the healthcare product maker’s stock after acquiring an additional 2,156 shares during the period. Nicolet Advisory Services LLC’s holdings in Abbott Laboratories were worth $4,377,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Redwood Park Advisors LLC purchased a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $25,000. Hughes Financial Services LLC purchased a new stake in shares of Abbott Laboratories in the first quarter valued at about $27,000. Abound Financial LLC purchased a new stake in shares of Abbott Laboratories in the first quarter valued at about $28,000. Wormser Freres Gestion purchased a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $32,000. Finally, JCIC Asset Management Inc. purchased a new stake in shares of Abbott Laboratories in the first quarter valued at about $32,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. William Blair raised shares of Abbott Laboratories to a “strong-buy” rating in a report on Thursday, July 17th. Jefferies Financial Group raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and increased their price target for the stock from $143.00 to $145.00 in a report on Friday, July 18th. Evercore ISI increased their price target on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, July 8th. BTIG Research cut their price target on shares of Abbott Laboratories from $148.00 to $145.00 and set a “buy” rating for the company in a report on Friday, July 18th. Finally, Morgan Stanley increased 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. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average target price of $144.47.

Abbott Laboratories Trading Down 1.9%

Shares of Abbott Laboratories stock opened at $126.16 on Friday. Abbott Laboratories has a 12-month low of $103.55 and a 12-month high of $141.23. 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 stock has a market cap of $219.50 billion, a PE ratio of 15.81, a price-to-earnings-growth ratio of 2.44 and a beta of 0.73. The company has a 50-day moving average of $131.86 and a two-hundred day moving average of $130.26.

Abbott Laboratories (NYSE:ABT) last released its quarterly 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 analyst estimates of $11.01 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.83%. The company’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.14 earnings per share. On average, research analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently declared 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 1.9%. Abbott Laboratories’s dividend payout ratio is currently 29.57%.

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.