5,474 Shares in Abbott Laboratories (NYSE:ABT) Purchased by Castellan Group

by · The Markets Daily

Castellan Group bought a new stake in Abbott Laboratories (NYSE:ABT – Free Report) during the 1st quarter, HoldingsChannel reports. The fund bought 5,474 shares of the healthcare product maker’s stock, valued at approximately $726,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ABT. Cim LLC lifted its stake in Abbott Laboratories by 0.4% during the fourth quarter. Cim LLC now owns 16,967 shares of the healthcare product maker’s stock worth $1,919,000 after purchasing an additional 73 shares during the last quarter. Capital Square LLC raised its holdings in shares of Abbott Laboratories by 2.7% during the 4th quarter. Capital Square LLC now owns 2,941 shares of the healthcare product maker’s stock worth $368,000 after buying an additional 77 shares in the last quarter. Consilium Wealth Advisory LLC lifted its position in shares of Abbott Laboratories by 2.1% during the 1st quarter. Consilium Wealth Advisory LLC now owns 3,822 shares of the healthcare product maker’s stock worth $507,000 after buying an additional 78 shares during the last quarter. Mayflower Financial Advisors LLC boosted its stake in Abbott Laboratories by 0.5% in the first quarter. Mayflower Financial Advisors LLC now owns 17,327 shares of the healthcare product maker’s stock valued at $2,298,000 after buying an additional 78 shares in the last quarter. Finally, Opes Wealth Management LLC grew its position in Abbott Laboratories by 2.9% in the first quarter. Opes Wealth Management LLC now owns 2,854 shares of the healthcare product maker’s stock valued at $379,000 after acquiring an additional 80 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on ABT. Wells Fargo & Company dropped their target price on shares of Abbott Laboratories from $147.00 to $142.00 and set an “overweight” rating for the company in a report on Friday, July 18th. Raymond James Financial lowered their price objective on shares of Abbott Laboratories from $142.00 to $141.00 and set an “outperform” rating for the company in a research report on Friday, July 18th. Stifel Nicolaus raised their target price on shares of Abbott Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. BTIG Research lowered their price target on shares of Abbott Laboratories from $148.00 to $145.00 and set a “buy” rating for the company in a report on Friday, July 18th. Finally, Barclays raised their price objective on Abbott Laboratories from $158.00 to $159.00 and gave the company an “overweight” rating in a report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $144.47.

Get Our Latest Research Report on ABT

Abbott Laboratories Stock Down 1.9%

Shares of NYSE ABT opened at $126.16 on Friday. The company’s 50 day moving average price is $131.86 and its 200-day moving average price is $130.26. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.27 and a current ratio of 1.78. Abbott Laboratories has a 52-week low of $103.55 and a 52-week high of $141.23. The company has a market capitalization of $219.50 billion, a P/E ratio of 15.81, a price-to-earnings-growth ratio of 2.44 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT – Get Free Report) last released its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.26. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.83%. The business had revenue of $11.14 billion for the quarter, compared to analyst estimates of $11.01 billion. During the same quarter in the previous year, the business earned $1.14 earnings per share. Abbott Laboratories’s revenue for the quarter was up 7.4% on a year-over-year basis. Equities analysts forecast 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. Shareholders of record on Tuesday, July 15th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Tuesday, July 15th. Abbott Laboratories’s payout ratio is presently 29.57%.

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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