Abbott Laboratories (NYSE:ABT) Shares Bought by Cypress Asset Management Inc. TX

Cypress Asset Management Inc. TX lifted its position in Abbott Laboratories (NYSE:ABT) by 15.1% during the 1st quarter, HoldingsChannel.com reports. The fund owned 27,967 shares of the healthcare product maker’s stock after buying an additional 3,661 shares during the quarter. Cypress Asset Management Inc. TX’s holdings in Abbott Laboratories were worth $3,196,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Signature Resources Capital Management LLC acquired a new stake in shares of Abbott Laboratories during the fourth quarter valued at approximately $29,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Abbott Laboratories during the first quarter valued at approximately $30,000. Richardson Financial Services Inc. acquired a new stake in shares of Abbott Laboratories during the fourth quarter valued at approximately $29,000. Transcendent Capital Group LLC acquired a new stake in shares of Abbott Laboratories during the fourth quarter valued at approximately $29,000. Finally, True Wealth Design LLC raised its holdings in shares of Abbott Laboratories by 1,677.8% during the fourth quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock valued at $35,000 after acquiring an additional 302 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Buying and Selling

In related news, EVP Lisa D. Earnhardt sold 22,852 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the completion of the sale, the executive vice president now directly owns 61,462 shares of the company’s stock, valued at approximately $6,530,337.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Lisa D. Earnhardt sold 22,852 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the completion of the transaction, the executive vice president now directly owns 61,462 shares in the company, valued at approximately $6,530,337.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jr. Robert E. Funck sold 10,097 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $22,099,928.37. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

Analysts Set New Price Targets

ABT has been the topic of a number of recent analyst reports. Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday. Citigroup lowered their price objective on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. Raymond James reaffirmed a “buy” rating and set a $124.00 price objective on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Barclays boosted their price objective on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $125.00 price objective on shares of Abbott Laboratories in a research report on Tuesday, June 4th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus target price of $121.00.

Abbott Laboratories Stock Up 1.1 %

ABT stock traded up $1.16 during trading hours on Friday, hitting $111.31. The company’s stock had a trading volume of 9,885,690 shares, compared to its average volume of 8,385,752. The company has a quick ratio of 1.11, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $193.67 billion, a PE ratio of 34.68, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a 12 month low of $89.67 and a 12 month high of $121.64. The stock has a 50 day moving average price of $104.22 and a two-hundred day moving average price of $109.06.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.04. The business had revenue of $10.38 billion during the quarter, compared to the consensus estimate of $10.37 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. Abbott Laboratories’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.08 EPS. On average, equities research analysts expect that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Monday, July 15th. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

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.