Broderick Brian C Has $12.31 Million Stock Position in Abbott Laboratories (NYSE:ABT)

Broderick Brian C lifted its stake in shares of Abbott Laboratories (NYSE:ABT) by 7.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 108,284 shares of the healthcare product maker’s stock after purchasing an additional 7,360 shares during the quarter. Abbott Laboratories accounts for 2.6% of Broderick Brian C’s holdings, making the stock its 16th biggest holding. Broderick Brian C’s holdings in Abbott Laboratories were worth $12,308,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Tompkins Financial Corp lifted its position in shares of Abbott Laboratories by 8.4% during the 3rd quarter. Tompkins Financial Corp now owns 92,440 shares of the healthcare product maker’s stock worth $8,953,000 after buying an additional 7,181 shares during the last quarter. Carlson Capital Management lifted its position in shares of Abbott Laboratories by 2.9% during the 3rd quarter. Carlson Capital Management now owns 13,261 shares of the healthcare product maker’s stock worth $1,284,000 after buying an additional 375 shares during the last quarter. Public Sector Pension Investment Board lifted its position in shares of Abbott Laboratories by 35.7% during the 3rd quarter. Public Sector Pension Investment Board now owns 996,123 shares of the healthcare product maker’s stock worth $96,475,000 after buying an additional 262,262 shares during the last quarter. EP Wealth Advisors LLC raised its position in Abbott Laboratories by 3,313.1% in the third quarter. EP Wealth Advisors LLC now owns 59,558 shares of the healthcare product maker’s stock valued at $5,768,000 after purchasing an additional 57,813 shares during the last quarter. Finally, Trust Co. of Vermont raised its position in Abbott Laboratories by 6.8% in the third quarter. Trust Co. of Vermont now owns 187,829 shares of the healthcare product maker’s stock valued at $18,191,000 after purchasing an additional 12,020 shares during the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Stock Up 1.1 %

Shares of ABT stock traded up $1.12 during trading hours on Thursday, reaching $104.17. The company had a trading volume of 5,025,283 shares, compared to its average volume of 5,659,196. Abbott Laboratories has a 12 month low of $89.67 and a 12 month 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 business has a fifty day simple moving average of $104.08 and a 200-day simple moving average of $109.76. The company has a market cap of $181.22 billion, a price-to-earnings ratio of 32.45, a price-to-earnings-growth ratio of 2.46 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.02. The firm 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%. The business’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. On average, research analysts expect that Abbott Laboratories will post 4.62 earnings per share 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. Stockholders of record on Monday, July 15th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Monday, July 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Analysts Set New Price Targets

Several research firms have commented on ABT. Barclays dropped their target price on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a research report on Monday, April 22nd. Raymond James reiterated a “buy” rating and issued a $124.00 target price on shares of Abbott Laboratories in a research report on Wednesday, April 24th. 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. Citigroup decreased their price target on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Finally, The Goldman Sachs Group began coverage on Abbott Laboratories in a research note on Thursday, May 30th. They issued a “buy” rating and a $121.00 price target for the company. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and an average target price of $120.18.

Insider Activity at Abbott Laboratories

In related news, EVP Lisa D. Earnhardt sold 22,852 shares of the business’s stock in a transaction on 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 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 accessible through the SEC website. In other Abbott Laboratories 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 value 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 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. 0.47% of the stock is currently owned by corporate insiders.

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.