GAMMA Investing LLC Acquires 1,700 Shares of Abbott Laboratories (NYSE:ABT)

GAMMA Investing LLC increased its holdings in Abbott Laboratories (NYSE:ABT) by 10.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,635 shares of the healthcare product maker’s stock after buying an additional 1,700 shares during the period. GAMMA Investing LLC’s holdings in Abbott Laboratories were worth $2,118,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Somerset Trust Co lifted its holdings in shares of Abbott Laboratories by 2.7% during the 1st quarter. Somerset Trust Co now owns 40,193 shares of the healthcare product maker’s stock valued at $4,568,000 after purchasing an additional 1,049 shares during the last quarter. S. R. Schill & Associates raised its stake in Abbott Laboratories by 79.5% in the first quarter. S. R. Schill & Associates now owns 4,322 shares of the healthcare product maker’s stock valued at $491,000 after buying an additional 1,914 shares during the last quarter. Cullen Investment Group LTD. boosted its holdings in Abbott Laboratories by 7.9% in the first quarter. Cullen Investment Group LTD. now owns 3,953 shares of the healthcare product maker’s stock worth $443,000 after acquiring an additional 291 shares in the last quarter. Advance Capital Management Inc. grew its stake in shares of Abbott Laboratories by 5.0% during the first quarter. Advance Capital Management Inc. now owns 2,434 shares of the healthcare product maker’s stock worth $277,000 after acquiring an additional 115 shares during the last quarter. Finally, Orrstown Financial Services Inc. increased its holdings in shares of Abbott Laboratories by 1.9% during the first quarter. Orrstown Financial Services Inc. now owns 6,666 shares of the healthcare product maker’s stock valued at $758,000 after acquiring an additional 125 shares in the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Trading Up 0.5 %

Shares of ABT traded up $0.54 during midday trading on Wednesday, reaching $103.99. The company had a trading volume of 4,500,985 shares, compared to its average volume of 5,350,948. The firm has a 50 day simple moving average of $105.35 and a 200-day simple moving average of $110.14. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The stock has a market cap of $180.90 billion, a PE ratio of 32.40, a price-to-earnings-growth ratio of 2.49 and a beta of 0.74. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. The company had revenue of $9.96 billion for the quarter, compared to the consensus estimate of $9.88 billion. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. Abbott Laboratories’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.03 earnings per share. Research analysts forecast that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Monday, July 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Analyst Upgrades and Downgrades

ABT has been the topic of several research analyst reports. Citigroup dropped their target price on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. The Goldman Sachs Group started coverage on Abbott Laboratories in a report on Thursday, May 30th. They set a “buy” rating and a $121.00 target price on the stock. Raymond James reiterated a “buy” rating and issued a $124.00 price objective on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Barclays cut their price target on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a research note on Monday, April 22nd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $125.00 price objective on shares of Abbott Laboratories in a report on Tuesday, June 4th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $120.64.

Insider Transactions at Abbott Laboratories

In related news, EVP Jr. Robert E. Funck sold 10,097 shares of Abbott Laboratories stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $104.57, for a total value of $1,055,843.29. Following the completion of the sale, the executive vice president now owns 211,341 shares in the company, valued at approximately $22,099,928.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Jr. Robert E. Funck sold 10,097 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $104.57, for a total transaction of $1,055,843.29. Following the sale, the executive vice president now directly owns 211,341 shares of the company’s stock, valued at approximately $22,099,928.37. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Lisa D. Earnhardt sold 22,852 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the completion of the transaction, the executive vice president now directly owns 61,462 shares of the company’s stock, valued at approximately $6,530,337.50. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.

About Abbott Laboratories

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.