Cetera Advisor Networks LLC Purchases 4,135 Shares of Abbott Laboratories (NYSE:ABT)

Cetera Advisor Networks LLC grew its stake in Abbott Laboratories (NYSE:ABT) by 2.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 200,546 shares of the healthcare product maker’s stock after purchasing an additional 4,135 shares during the period. Cetera Advisor Networks LLC’s holdings in Abbott Laboratories were worth $22,794,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ABT. Signature Resources Capital Management LLC purchased a new stake in shares of Abbott Laboratories in the fourth quarter worth approximately $29,000. Transcendent Capital Group LLC purchased a new stake in shares of Abbott Laboratories in the fourth quarter worth approximately $29,000. Richardson Financial Services Inc. purchased a new stake in shares of Abbott Laboratories in the fourth quarter worth approximately $29,000. Redmont Wealth Advisors LLC purchased a new position in Abbott Laboratories during the 1st quarter worth $30,000. Finally, True Wealth Design LLC increased its holdings in Abbott Laboratories by 1,677.8% during the 4th quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock worth $35,000 after purchasing an additional 302 shares during the period. 75.18% of the stock is owned by institutional investors.

Insider Activity at Abbott Laboratories

In related news, EVP Jr. Robert E. Funck sold 10,097 shares of the company’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 directly owns 211,341 shares in the company, valued at $22,099,928.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Abbott Laboratories news, EVP Lisa D. Earnhardt sold 22,852 shares of the company’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 transaction, the executive vice president now directly owns 61,462 shares in the company, valued at $6,530,337.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 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 $22,099,928.37. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

Abbott Laboratories Price Performance

Shares of Abbott Laboratories stock traded up $1.16 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. 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 $104.22 and a 200-day moving average price of $109.06. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.11 and a current ratio of 1.68. The company has a market capitalization of $193.67 billion, a price-to-earnings ratio of 34.68, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 EPS for the quarter, topping the consensus estimate of $1.10 by $0.04. The company had revenue of $10.38 billion during the quarter, compared to analyst estimates of $10.37 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. Abbott Laboratories’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.08 EPS. As a group, sell-side analysts anticipate that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Monday, July 15th. Abbott Laboratories’s dividend payout ratio is presently 68.54%.

Analysts Set New Price Targets

ABT has been the topic of several research reports. Royal Bank of Canada restated an “outperform” rating and set a $125.00 price objective on shares of Abbott Laboratories in a report on Tuesday, June 4th. Raymond James reiterated a “buy” rating and issued a $124.00 price target on shares of Abbott Laboratories in a report on Wednesday, April 24th. 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. Evercore ISI cut their price target on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Finally, Edward Jones downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $121.00.

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.