Fort Sheridan Advisors LLC Raises Stock Holdings in Abbott Laboratories (NYSE:ABT)

by · The Markets Daily

Fort Sheridan Advisors LLC grew its stake in Abbott Laboratories (NYSE:ABT – Free Report) by 5.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,456 shares of the healthcare product maker’s stock after buying an additional 917 shares during the quarter. Fort Sheridan Advisors LLC’s holdings in Abbott Laboratories were worth $2,183,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Coyle Financial Counsel LLC grew its position in shares of Abbott Laboratories by 1.4% during the first quarter. Coyle Financial Counsel LLC now owns 5,972 shares of the healthcare product maker’s stock worth $792,000 after purchasing an additional 82 shares in the last quarter. Riversedge Advisors LLC grew its position in shares of Abbott Laboratories by 5.9% during the first quarter. Riversedge Advisors LLC now owns 3,657 shares of the healthcare product maker’s stock worth $485,000 after purchasing an additional 204 shares in the last quarter. IFC Advisors LLC grew its position in shares of Abbott Laboratories by 3.0% during the first quarter. IFC Advisors LLC now owns 11,723 shares of the healthcare product maker’s stock worth $1,555,000 after purchasing an additional 337 shares in the last quarter. Austin Wealth Management LLC grew its position in shares of Abbott Laboratories by 6.3% during the first quarter. Austin Wealth Management LLC now owns 2,268 shares of the healthcare product maker’s stock worth $293,000 after purchasing an additional 134 shares in the last quarter. Finally, Greater Midwest Financial Group LLC grew its position in shares of Abbott Laboratories by 6.1% during the first quarter. Greater Midwest Financial Group LLC now owns 6,083 shares of the healthcare product maker’s stock worth $807,000 after purchasing an additional 351 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

ABT opened at $131.95 on Friday. The business has a fifty day moving average of $133.52 and a 200 day moving average of $128.98. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $141.23. 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 market cap of $229.56 billion, a P/E ratio of 17.11, a PEG ratio of 2.54 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT – Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. Abbott Laboratories had a return on equity of 19.01% and a net margin of 31.89%. The company had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.38 billion. As a group, sell-side analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date is Tuesday, July 15th. Abbott Laboratories’s payout ratio is currently 30.61%.

Analyst Ratings Changes

Several analysts recently issued reports on ABT shares. Wells Fargo & Company increased their target price on Abbott Laboratories from $136.00 to $147.00 and gave the stock an “overweight” rating in a research report on Thursday, April 17th. Leerink Partners began coverage on Abbott Laboratories in a report on Monday, June 16th. They set a “market perform” rating and a $143.00 price target for the company. Morgan Stanley raised their price target on Abbott Laboratories from $117.00 to $127.00 and gave the company an “equal weight” rating in a report on Thursday, April 17th. Leerink Partnrs upgraded Abbott Laboratories to a “hold” rating in a report on Monday, June 16th. Finally, Barclays raised their price target on Abbott Laboratories from $158.00 to $159.00 and gave the company an “overweight” rating in a report on Thursday, April 17th. Six analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $143.11.

Check Out Our Latest Analysis on Abbott Laboratories

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of Abbott Laboratories stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total transaction of $337,116.00. Following the completion of the sale, the director directly owned 34,058 shares of the company’s stock, valued at $4,415,960.28. The trade was a 7.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.46% of the stock is currently owned by insiders.

Abbott Laboratories Profile

(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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