SPC Financial Inc. Has $2.19 Million Stock Position in Abbott Laboratories (NYSE:ABT)

SPC Financial Inc. reduced its position in Abbott Laboratories (NYSE:ABT) by 0.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 19,275 shares of the healthcare product maker’s stock after selling 131 shares during the period. SPC Financial Inc.’s holdings in Abbott Laboratories were worth $2,191,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Abbott Laboratories by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 156,467,081 shares of the healthcare product maker’s stock valued at $17,222,332,000 after acquiring an additional 701,740 shares during the period. Capital Research Global Investors grew its stake in Abbott Laboratories by 9.5% in the fourth quarter. Capital Research Global Investors now owns 86,588,614 shares of the healthcare product maker’s stock valued at $9,530,825,000 after acquiring an additional 7,527,778 shares during the period. Capital International Investors grew its stake in Abbott Laboratories by 2.3% in the fourth quarter. Capital International Investors now owns 64,294,784 shares of the healthcare product maker’s stock valued at $7,077,148,000 after acquiring an additional 1,457,847 shares during the period. Wellington Management Group LLP grew its stake in Abbott Laboratories by 3.3% in the fourth quarter. Wellington Management Group LLP now owns 32,236,101 shares of the healthcare product maker’s stock valued at $3,548,228,000 after acquiring an additional 1,027,390 shares during the period. Finally, Norges Bank acquired a new position in Abbott Laboratories in the fourth quarter valued at about $2,115,836,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Trading Up 1.1 %

Abbott Laboratories stock traded up $1.12 during trading hours on Thursday, reaching $104.17. 5,025,283 shares of the company’s stock were exchanged, compared to its average volume of 5,659,196. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The firm’s 50 day simple moving average is $104.12 and its 200 day simple moving average is $109.80. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64. The firm has a market capitalization of $181.22 billion, a PE ratio of 32.09, a PEG 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 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.96%. The business had revenue of $9.96 billion during the quarter, compared to analyst estimates of $9.88 billion. During the same period in the previous year, the company posted $1.03 EPS. The firm’s revenue was up 2.2% compared to the same quarter last year. Research analysts predict that Abbott Laboratories will post 4.62 earnings per share for the current year.

Abbott Laboratories Announces Dividend

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

Insiders Place Their Bets

In other Abbott Laboratories 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 completion of the sale, the executive vice president now directly owns 211,341 shares of the company’s stock, valued at approximately $22,099,928.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $1,055,843.29. Following the transaction, the executive vice president now 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 available through this link. Also, EVP Lisa D. Earnhardt sold 22,852 shares of the business’s stock in a transaction that occurred on 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 approximately $6,530,337.50. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on ABT. Barclays cut their price target on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a report on Monday, April 22nd. Citigroup cut 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. 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 target on the stock. Raymond James restated a “buy” rating and issued a $124.00 price target on shares of Abbott Laboratories in a report on Wednesday, April 24th. Finally, Evercore ISI dropped their target price on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Three 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 a consensus rating of “Moderate Buy” and an average target price of $120.18.

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.