Abbott Laboratories (NYSE:ABT) Position Reduced by Commerce Bank

by · The Cerbat Gem

Commerce Bank lowered its position in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 3.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 414,823 shares of the healthcare product maker’s stock after selling 13,764 shares during the quarter. Commerce Bank’s holdings in Abbott Laboratories were worth $55,026,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in ABT. EagleClaw Capital Managment LLC grew its position in Abbott Laboratories by 75.5% during the 1st quarter. EagleClaw Capital Managment LLC now owns 4,648 shares of the healthcare product maker’s stock worth $617,000 after purchasing an additional 2,000 shares in the last quarter. Jefferies Financial Group Inc. lifted its holdings in shares of Abbott Laboratories by 22.0% in the first quarter. Jefferies Financial Group Inc. now owns 243,548 shares of the healthcare product maker’s stock valued at $32,307,000 after purchasing an additional 43,939 shares in the last quarter. Howland Capital Management LLC boosted its position in shares of Abbott Laboratories by 38.1% in the first quarter. Howland Capital Management LLC now owns 42,147 shares of the healthcare product maker’s stock worth $5,591,000 after buying an additional 11,636 shares during the period. Nicolet Advisory Services LLC grew its holdings in shares of Abbott Laboratories by 6.5% during the first quarter. Nicolet Advisory Services LLC now owns 35,160 shares of the healthcare product maker’s stock valued at $4,377,000 after buying an additional 2,156 shares in the last quarter. Finally, Pasadena Private Wealth LLC purchased a new stake in Abbott Laboratories in the 1st quarter worth about $310,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on ABT. BTIG Research lowered their target price on Abbott Laboratories from $148.00 to $145.00 and set a “buy” rating on the stock in a research note on Friday, July 18th. Jefferies Financial Group upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and upped their price objective for the company from $143.00 to $145.00 in a research note on Friday, July 18th. Leerink Partnrs raised shares of Abbott Laboratories to a “hold” rating in a research note on Monday, June 16th. Morgan Stanley upped their price target on shares of Abbott Laboratories from $127.00 to $137.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 15th. Finally, Royal Bank Of Canada lifted their price objective on Abbott Laboratories from $145.00 to $147.00 and gave the company an “outperform” rating in a research report on Tuesday, July 15th. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $144.47.

View Our Latest Analysis on Abbott Laboratories

Abbott Laboratories Stock Down 1.9%

Shares of Abbott Laboratories stock opened at $126.16 on Friday. Abbott Laboratories has a 12-month low of $103.55 and a 12-month high of $141.23. The stock has a market capitalization of $219.50 billion, a P/E ratio of 15.81, a PEG ratio of 2.44 and a beta of 0.73. The company has a quick ratio of 1.27, a current ratio of 1.78 and a debt-to-equity ratio of 0.26. The stock has a 50 day moving average price of $131.86 and a two-hundred day moving average price of $130.26.

Abbott Laboratories (NYSE:ABT – Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.26. The business had revenue of $11.14 billion during the quarter, compared to the consensus estimate of $11.01 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.83%. Abbott Laboratories’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.14 EPS. Equities analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be paid a dividend of $0.59 per share. The ex-dividend date is Tuesday, July 15th. This represents a $2.36 annualized dividend and a yield of 1.9%. Abbott Laboratories’s dividend payout ratio is presently 29.57%.

About Abbott Laboratories

(Free Report)

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.

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