Winthrop Advisory Group LLC Raises Position in Abbott Laboratories (NYSE:ABT)

Winthrop Advisory Group LLC grew its holdings in shares of Abbott Laboratories (NYSE:ABTGet Rating) by 23.5% in the 1st quarter, HoldingsChannel.com reports. The firm owned 2,370 shares of the healthcare product maker’s stock after purchasing an additional 451 shares during the quarter. Winthrop Advisory Group LLC’s holdings in Abbott Laboratories were worth $280,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. LVM Capital Management Ltd. MI lifted its holdings in shares of Abbott Laboratories by 0.8% during the 1st quarter. LVM Capital Management Ltd. MI now owns 29,011 shares of the healthcare product maker’s stock valued at $3,434,000 after purchasing an additional 226 shares during the last quarter. Private Wealth Group LLC lifted its holdings in shares of Abbott Laboratories by 5.8% during the 1st quarter. Private Wealth Group LLC now owns 1,798 shares of the healthcare product maker’s stock valued at $213,000 after purchasing an additional 99 shares during the last quarter. Hexagon Capital Partners LLC lifted its holdings in shares of Abbott Laboratories by 6.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 2,679 shares of the healthcare product maker’s stock valued at $317,000 after purchasing an additional 152 shares during the last quarter. Carret Asset Management LLC lifted its holdings in shares of Abbott Laboratories by 0.3% during the 1st quarter. Carret Asset Management LLC now owns 55,092 shares of the healthcare product maker’s stock valued at $6,521,000 after purchasing an additional 139 shares during the last quarter. Finally, Blue Fin Capital Inc. lifted its holdings in shares of Abbott Laboratories by 0.9% during the 1st quarter. Blue Fin Capital Inc. now owns 19,147 shares of the healthcare product maker’s stock valued at $2,266,000 after purchasing an additional 164 shares during the last quarter. Hedge funds and other institutional investors own 73.46% of the company’s stock.

ABT has been the subject of a number of research analyst reports. Royal Bank of Canada reduced their target price on Abbott Laboratories from $146.00 to $143.00 and set an “outperform” rating for the company in a research note on Thursday, April 21st. StockNews.com initiated coverage on Abbott Laboratories in a research note on Thursday, March 31st. They issued a “strong-buy” rating for the company. Wells Fargo & Company reduced their target price on Abbott Laboratories from $155.00 to $150.00 and set an “overweight” rating for the company in a research note on Friday, April 8th. Morgan Stanley reduced their target price on Abbott Laboratories from $151.00 to $145.00 and set an “overweight” rating for the company in a research note on Tuesday, June 7th. Finally, Citigroup reduced their target price on Abbott Laboratories from $154.00 to $125.00 and set a “na” rating for the company in a research note on Tuesday, May 17th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $140.25.

In other news, Director Daniel J. Starks sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 3rd. The stock was sold at an average price of $113.22, for a total transaction of $5,661,000.00. Following the transaction, the director now directly owns 6,973,500 shares in the company, valued at approximately $789,539,670. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Randel William Woodgrift sold 24,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 4th. The stock was sold at an average price of $113.00, for a total value of $2,712,000.00. Following the transaction, the senior vice president now owns 47,854 shares in the company, valued at $5,407,502. The disclosure for this sale can be found here. Insiders own 0.52% of the company’s stock.

NYSE:ABT opened at $106.42 on Thursday. Abbott Laboratories has a 52 week low of $101.24 and a 52 week high of $142.60. The company has a quick ratio of 1.40, a current ratio of 1.85 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $186.34 billion, a PE ratio of 24.46, a price-to-earnings-growth ratio of 3.77 and a beta of 0.73. The stock’s 50-day moving average price is $112.94 and its 200-day moving average price is $121.64.

Abbott Laboratories (NYSE:ABTGet Rating) last posted its earnings results on Wednesday, April 20th. The healthcare product maker reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.26. Abbott Laboratories had a return on equity of 28.72% and a net margin of 17.35%. The firm had revenue of $11.90 billion for the quarter, compared to analysts’ expectations of $11 billion. During the same period last year, the firm earned $1.32 EPS. The company’s quarterly revenue was up 13.8% on a year-over-year basis. Sell-side analysts expect that Abbott Laboratories will post 4.84 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Friday, July 15th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Thursday, July 14th. Abbott Laboratories’s payout ratio is 43.62%.

About Abbott Laboratories (Get Rating)

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 Established Pharmaceutical Products segment 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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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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