Valeo Financial Advisors LLC Acquires 318 Shares of Abbott Laboratories (NYSE:ABT)

Valeo Financial Advisors LLC lifted its holdings in Abbott Laboratories (NYSE:ABT) by 1.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,876 shares of the healthcare product maker’s stock after acquiring an additional 318 shares during the period. Valeo Financial Advisors LLC’s holdings in Abbott Laboratories were worth $3,509,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Signature Resources Capital Management LLC bought a new position in Abbott Laboratories during the fourth quarter valued at approximately $29,000. Transcendent Capital Group LLC bought a new stake in shares of Abbott Laboratories in the 4th quarter valued at approximately $29,000. Richardson Financial Services Inc. bought a new stake in shares of Abbott Laboratories in the 4th quarter valued at approximately $29,000. True Wealth Design LLC lifted its stake in shares of Abbott Laboratories by 1,677.8% in the 4th quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock valued at $35,000 after purchasing an additional 302 shares during the last quarter. Finally, Rise Advisors LLC bought a new stake in shares of Abbott Laboratories in the 4th quarter valued at approximately $37,000. Institutional investors own 75.18% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Jr. Robert E. Funck sold 10,097 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $104.57, for a total transaction of $1,055,843.29. Following the transaction, the executive vice president now owns 211,341 shares in the company, valued at $22,099,928.37. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Lisa D. Earnhardt sold 22,852 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were 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 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 is available through this link. Also, EVP Jr. Robert E. Funck sold 10,097 shares of the stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 211,341 shares in the company, valued at approximately $22,099,928.37. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by corporate insiders.

Abbott Laboratories Stock Down 0.8 %

NYSE ABT traded down $0.87 during midday trading on Wednesday, hitting $102.33. 2,016,716 shares of the company traded hands, compared to its average volume of 5,653,503. The company has a market cap of $178.02 billion, a PE ratio of 31.99, a price-to-earnings-growth ratio of 2.50 and a beta of 0.72. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.11. Abbott Laboratories has a 52 week low of $89.67 and a 52 week high of $121.64. The company’s 50-day simple moving average is $104.63 and its 200-day simple moving average is $110.05.

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

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be issued 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 yield of 2.15%. Abbott Laboratories’s dividend payout ratio is presently 68.54%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ABT. Barclays lowered their price objective on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a research note on Monday, April 22nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $125.00 price target on shares of Abbott Laboratories in a report on Tuesday, June 4th. Evercore ISI reduced their price target on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Tuesday. Citigroup reduced their price target on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Finally, Raymond James reiterated a “buy” rating and issued a $124.00 price target on shares of Abbott Laboratories in a report on Wednesday, April 24th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $120.18.

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.