Abbott Laboratories (NYSE:ABT) Shares Bought by StrategIQ Financial Group LLC

StrategIQ Financial Group LLC grew its holdings in shares of Abbott Laboratories (NYSE:ABTGet Rating) by 1.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 88,862 shares of the healthcare product maker’s stock after purchasing an additional 1,255 shares during the period. Abbott Laboratories makes up about 1.1% of StrategIQ Financial Group LLC’s holdings, making the stock its 21st biggest position. StrategIQ Financial Group LLC’s holdings in Abbott Laboratories were worth $10,518,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ABT. Norges Bank acquired a new position in Abbott Laboratories during the 4th quarter worth approximately $2,290,723,000. BlackRock Inc. grew its holdings in shares of Abbott Laboratories by 2.1% in the 4th quarter. BlackRock Inc. now owns 137,155,602 shares of the healthcare product maker’s stock worth $19,303,283,000 after acquiring an additional 2,836,966 shares during the period. State Street Corp grew its holdings in shares of Abbott Laboratories by 2.6% in the 4th quarter. State Street Corp now owns 74,322,051 shares of the healthcare product maker’s stock worth $10,460,085,000 after acquiring an additional 1,896,462 shares during the period. Nuveen Asset Management LLC grew its holdings in shares of Abbott Laboratories by 16.3% in the 4th quarter. Nuveen Asset Management LLC now owns 11,469,313 shares of the healthcare product maker’s stock worth $1,614,192,000 after acquiring an additional 1,609,489 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Abbott Laboratories by 4,654.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,621,497 shares of the healthcare product maker’s stock worth $228,209,000 after acquiring an additional 1,587,394 shares during the period. Institutional investors own 73.46% of the company’s stock.

Shares of ABT opened at $108.70 on Friday. The company has a current ratio of 1.85, a quick ratio of 1.40 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $190.33 billion, a P/E ratio of 25.21, a price-to-earnings-growth ratio of 3.95 and a beta of 0.73. The stock’s fifty day simple moving average is $111.58 and its 200 day simple moving average is $120.60. Abbott Laboratories has a twelve month low of $101.24 and a twelve month high of $142.60.

Abbott Laboratories (NYSE:ABTGet Rating) last announced its quarterly earnings results on Wednesday, April 20th. The healthcare product maker reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.26. Abbott Laboratories had a return on equity of 28.72% and a net margin of 17.35%. The firm had revenue of $11.90 billion during the quarter, compared to the consensus estimate of $11 billion. During the same period in the prior year, the firm earned $1.32 EPS. The firm’s quarterly revenue was up 13.8% compared to the same quarter last year. Sell-side analysts predict that Abbott Laboratories will post 4.84 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Friday, July 15th will be issued a $0.47 dividend. The ex-dividend date is Thursday, July 14th. This represents a $1.88 annualized dividend and a yield of 1.73%. Abbott Laboratories’s dividend payout ratio is currently 43.62%.

A number of equities research analysts have commented on ABT shares. Citigroup lowered their target price on Abbott Laboratories from $154.00 to $125.00 and set a “na” rating on the stock in a report on Tuesday, May 17th. Raymond James reduced their price target on Abbott Laboratories from $143.00 to $135.00 and set an “outperform” rating on the stock in a research note on Thursday, April 21st. BTIG Research reduced their price target on Abbott Laboratories from $140.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, June 24th. StockNews.com assumed coverage on Abbott Laboratories in a research note on Thursday, March 31st. They set a “strong-buy” rating on the stock. Finally, Wells Fargo & Company reduced their price target on Abbott Laboratories from $155.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday, April 8th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $139.64.

In other news, SVP Randel William Woodgrift sold 24,000 shares of the firm’s stock in a transaction dated Wednesday, May 4th. The stock was sold at an average price of $113.00, for a total transaction of $2,712,000.00. Following the completion of the sale, the senior vice president now directly owns 47,854 shares in the company, valued at $5,407,502. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel J. Starks sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, May 3rd. The shares were sold at an average price of $113.22, for a total value of $5,661,000.00. Following the sale, the director now owns 6,973,500 shares of the company’s stock, valued at $789,539,670. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by corporate insiders.

Abbott Laboratories Company Profile (Get Rating)

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 Established Pharmaceutical Products segment 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.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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