Hummer Financial Advisory Services Inc Buys 100 Shares of Abbott Laboratories (NYSE:ABT)

Hummer Financial Advisory Services Inc raised its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,290 shares of the healthcare product maker’s stock after acquiring an additional 100 shares during the quarter. Abbott Laboratories makes up about 0.8% of Hummer Financial Advisory Services Inc’s portfolio, making the stock its 27th biggest position. Hummer Financial Advisory Services Inc’s holdings in Abbott Laboratories were worth $942,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Aigen Investment Management LP boosted its position in shares of Abbott Laboratories by 120.6% in the 3rd quarter. Aigen Investment Management LP now owns 6,321 shares of the healthcare product maker’s stock worth $612,000 after purchasing an additional 3,455 shares in the last quarter. Dark Forest Capital Management LP acquired a new stake in shares of Abbott Laboratories in the 3rd quarter worth $310,000. Clearbridge Investments LLC boosted its position in shares of Abbott Laboratories by 0.4% in the 3rd quarter. Clearbridge Investments LLC now owns 80,955 shares of the healthcare product maker’s stock worth $7,840,000 after purchasing an additional 348 shares in the last quarter. LPL Financial LLC boosted its position in shares of Abbott Laboratories by 8.5% in the 3rd quarter. LPL Financial LLC now owns 1,157,159 shares of the healthcare product maker’s stock worth $112,071,000 after purchasing an additional 90,406 shares in the last quarter. Finally, Retirement Planning Co of New England Inc. boosted its position in shares of Abbott Laboratories by 37.7% in the 3rd quarter. Retirement Planning Co of New England Inc. now owns 18,880 shares of the healthcare product maker’s stock worth $1,829,000 after purchasing an additional 5,172 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Insider Buying and Selling

In related news, EVP Lisa D. Earnhardt sold 22,852 shares of Abbott Laboratories stock in a transaction dated 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 sale, 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 legal filing with the SEC, which is available at this link. In other news, EVP Jr. Robert E. Funck sold 10,097 shares of the business’s 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 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 legal filing with the SEC, which is available at 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 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 in the company, valued at $6,530,337.50. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ABT shares. Raymond James reissued a “buy” rating and issued a $124.00 price objective on shares of Abbott Laboratories in a research report on Wednesday, April 24th. The Goldman Sachs Group initiated coverage on Abbott Laboratories in a research note on Thursday, May 30th. They issued a “buy” rating and a $121.00 target price for the company. Evercore ISI raised their target price on Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Barclays reduced their target price 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. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $125.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $120.64.

Abbott Laboratories Price Performance

Shares of Abbott Laboratories stock traded down $0.85 on Friday, hitting $105.72. The company’s stock had a trading volume of 10,329,146 shares, compared to its average volume of 5,224,383. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.11 and a current ratio of 1.60. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $121.64. The firm has a fifty day moving average price of $105.04 and a 200-day moving average price of $110.11. The company has a market capitalization of $183.91 billion, a price-to-earnings ratio of 32.93, a price-to-earnings-growth ratio of 2.56 and a beta of 0.74.

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

Abbott Laboratories Dividend Announcement

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 $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.08%. The ex-dividend date is Monday, July 15th. Abbott Laboratories’s payout ratio is 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.