Abbott Laboratories (NYSE:ABT) Shares Purchased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC increased its holdings in Abbott Laboratories (NYSE:ABT) by 3.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 610,006 shares of the healthcare product maker’s stock after purchasing an additional 22,907 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Abbott Laboratories were worth $69,333,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ABT. Signature Resources Capital Management LLC purchased a new position in shares of Abbott Laboratories during the 4th quarter valued at approximately $29,000. Transcendent Capital Group LLC acquired a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $29,000. Richardson Financial Services Inc. purchased a new stake in shares of Abbott Laboratories during the fourth quarter worth about $29,000. Redmont Wealth Advisors LLC acquired a new position in shares of Abbott Laboratories during the 1st quarter worth about $30,000. Finally, True Wealth Design LLC lifted its stake in 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 buying an additional 302 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Trading Up 1.7 %

Abbott Laboratories stock traded up $1.69 during mid-day trading on Friday, hitting $104.02. The company’s stock had a trading volume of 6,582,790 shares, compared to its average volume of 5,183,061. The stock’s fifty day moving average is $104.37 and its two-hundred day moving average is $109.92. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $180.96 billion, a PE ratio of 32.40, a price-to-earnings-growth ratio of 2.46 and a beta of 0.72. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $121.64.

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

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, July 15th. This represents a $2.20 annualized dividend and a dividend yield of 2.11%. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

Insider Activity

In related news, EVP Jr. Robert E. Funck sold 10,097 shares of the firm’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 completion of the transaction, the executive vice president now directly owns 211,341 shares in the company, valued at approximately $22,099,928.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Abbott Laboratories news, EVP Lisa D. Earnhardt sold 22,852 shares of the firm’s 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 completion of the transaction, the executive vice president now owns 61,462 shares of the company’s stock, valued at approximately $6,530,337.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jr. Robert E. Funck sold 10,097 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $104.57, for a total value of $1,055,843.29. Following the sale, the executive vice president now directly owns 211,341 shares in the company, valued at approximately $22,099,928.37. The disclosure for this sale can be found here. Insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

ABT has been the subject of a number of research analyst reports. Evercore ISI reduced their target price on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Tuesday. The Goldman Sachs Group began coverage on Abbott Laboratories in a report on Thursday, May 30th. They issued a “buy” rating and a $121.00 price objective on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $125.00 target price on shares of Abbott Laboratories in a research report on Tuesday, June 4th. Barclays lowered their price target on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a research report on Monday, April 22nd. Finally, Raymond James reissued a “buy” rating and issued a $124.00 target price on shares of Abbott Laboratories in a research note on Wednesday, April 24th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $120.18.

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.