D.A. Davidson & CO. Has $22.11 Million Position in Abbott Laboratories (NYSE:ABT)

by · The Cerbat Gem

D.A. Davidson & CO. grew its holdings in Abbott Laboratories (NYSE:ABT – Free Report) by 5.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 166,676 shares of the healthcare product maker’s stock after buying an additional 8,926 shares during the quarter. D.A. Davidson & CO.’s holdings in Abbott Laboratories were worth $22,110,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in ABT. Redwood Park Advisors LLC acquired a new stake in Abbott Laboratories in the 4th quarter valued at about $25,000. NewSquare Capital LLC grew its stake in shares of Abbott Laboratories by 78.4% during the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock valued at $27,000 after purchasing an additional 105 shares during the last quarter. WealthTrak Capital Management LLC bought a new position in Abbott Laboratories in the 4th quarter worth approximately $28,000. Rialto Wealth Management LLC acquired a new position in Abbott Laboratories during the 4th quarter worth $29,000. Finally, Wormser Freres Gestion bought a new position in Abbott Laboratories in the 4th quarter valued at $32,000. 75.18% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ABT shares. Jefferies Financial Group boosted their target price on Abbott Laboratories from $135.00 to $137.00 and gave the stock a “hold” rating in a research report on Thursday, April 17th. Piper Sandler reissued an “overweight” rating and set a $145.00 price objective (up from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. Raymond James Financial increased their price objective on shares of Abbott Laboratories from $132.00 to $142.00 and gave the company an “outperform” rating in a report on Thursday, April 17th. Leerink Partnrs raised shares of Abbott Laboratories to a “hold” rating in a report on Monday, June 16th. Finally, Morgan Stanley increased their price target on Abbott Laboratories from $117.00 to $127.00 and gave the company an “equal weight” rating in a research note on Thursday, April 17th. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $142.61.

Read Our Latest Stock Analysis on Abbott Laboratories

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock opened at $134.08 on Thursday. The stock’s fifty day simple moving average is $133.11 and its 200 day simple moving average is $128.01. The company has a current ratio of 1.78, a quick ratio of 1.27 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $233.28 billion, a PE ratio of 17.39, a PEG ratio of 2.59 and a beta of 0.73. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $141.23.

Abbott Laboratories (NYSE:ABT – Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $10.38 billion. On average, research analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date is Tuesday, July 15th. Abbott Laboratories’s payout ratio is currently 30.61%.

Insider Buying and Selling at Abbott Laboratories

In related news, Director Sally E. Blount sold 2,600 shares of the firm’s stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total transaction of $337,116.00. Following the sale, the director directly owned 34,058 shares in the company, valued at $4,415,960.28. This trade represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.46% of the stock is owned by company 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.

Further Reading

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