Capital Asset Advisory Services LLC Has $2.72 Million Stock Holdings in Abbott Laboratories (NYSE:ABT)

Capital Asset Advisory Services LLC boosted its stake in shares of Abbott Laboratories (NYSE:ABT) by 9.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 24,413 shares of the healthcare product maker’s stock after buying an additional 2,167 shares during the quarter. Capital Asset Advisory Services LLC’s holdings in Abbott Laboratories were worth $2,715,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Signature Resources Capital Management LLC acquired a new stake in shares of Abbott Laboratories in the fourth quarter valued at approximately $29,000. Transcendent Capital Group LLC bought a new position in shares of Abbott Laboratories during the fourth quarter worth approximately $29,000. Richardson Financial Services Inc. acquired a new stake in Abbott Laboratories during the 4th quarter worth approximately $29,000. True Wealth Design LLC lifted its holdings in Abbott Laboratories by 1,677.8% during the 4th quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock worth $35,000 after purchasing an additional 302 shares during the last quarter. Finally, Rise Advisors LLC acquired a new stake in Abbott Laboratories during the 4th quarter worth approximately $37,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Abbott Laboratories

In related news, EVP Lisa D. Earnhardt sold 22,852 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the sale, the executive vice president now owns 61,462 shares in the company, valued at approximately $6,530,337.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Jr. Robert E. Funck sold 10,097 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $104.57, for a total transaction of $1,055,843.29. Following the sale, the executive vice president now owns 211,341 shares in the company, valued at approximately $22,099,928.37. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Lisa D. Earnhardt sold 22,852 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total value of $2,428,025.00. Following the transaction, the executive vice president now directly owns 61,462 shares in the company, valued at $6,530,337.50. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Abbott Laboratories Price Performance

ABT stock traded down $0.71 during midday trading on Friday, reaching $103.94. 8,283,252 shares of the stock were exchanged, compared to its average volume of 5,707,569. The stock has a market capitalization of $180.82 billion, a PE ratio of 32.60, a P/E/G ratio of 2.52 and a beta of 0.74. Abbott Laboratories has a 52 week low of $89.67 and a 52 week high of $121.64. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.11. The company has a fifty day moving average price of $104.87 and a 200 day moving average price of $110.13.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. The business had revenue of $9.96 billion for the quarter, compared to analyst estimates of $9.88 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.96%. Abbott Laboratories’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 EPS. As a group, analysts expect that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be given a $0.55 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.12%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Citigroup dropped their price target on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. The Goldman Sachs Group assumed coverage on Abbott Laboratories in a report on Thursday, May 30th. They set a “buy” rating and a $121.00 price target for the company. Barclays dropped their price target on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a report on Monday, April 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $125.00 price objective on shares of Abbott Laboratories in a report on Tuesday, June 4th. Finally, Raymond James reaffirmed a “buy” rating and issued a $124.00 price objective on shares of Abbott Laboratories in a report on Wednesday, April 24th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $120.64.

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.