Genovese Burford & Brothers Wealth & Retirement Plan Management LLC Has $245,000 Position in Abbott Laboratories (NYSE:ABT)

Genovese Burford & Brothers Wealth & Retirement Plan Management LLC lifted its stake in Abbott Laboratories (NYSE:ABT) by 7.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,060 shares of the healthcare product maker’s stock after acquiring an additional 201 shares during the quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC’s holdings in Abbott Laboratories were worth $245,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of ABT. Vanguard Group Inc increased its stake in shares of Abbott Laboratories by 1.6% in the third quarter. Vanguard Group Inc now owns 139,012,321 shares of the healthcare product maker’s stock worth $10,197,944,000 after acquiring an additional 2,208,781 shares during the last quarter. BKD Wealth Advisors LLC increased its stake in shares of Abbott Laboratories by 9.8% in the fourth quarter. BKD Wealth Advisors LLC now owns 7,572 shares of the healthcare product maker’s stock worth $548,000 after acquiring an additional 675 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of Abbott Laboratories by 1.1% in the fourth quarter. Fisher Asset Management LLC now owns 432,046 shares of the healthcare product maker’s stock worth $31,250,000 after acquiring an additional 4,584 shares during the last quarter. State of New Jersey Common Pension Fund D increased its stake in shares of Abbott Laboratories by 5.3% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 1,589,850 shares of the healthcare product maker’s stock worth $114,994,000 after acquiring an additional 80,000 shares during the last quarter. Finally, Beese Fulmer Investment Management Inc. increased its stake in shares of Abbott Laboratories by 1.2% in the fourth quarter. Beese Fulmer Investment Management Inc. now owns 97,663 shares of the healthcare product maker’s stock worth $7,064,000 after acquiring an additional 1,185 shares during the last quarter. 73.36% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories stock traded up $0.41 during mid-day trading on Friday, hitting $84.10. 16,436,639 shares of the company’s stock were exchanged, compared to its average volume of 5,264,206. The firm has a market capitalization of $147.64 billion, a PE ratio of 29.20, a P/E/G ratio of 2.36 and a beta of 1.08. The business has a 50 day moving average price of $79.35. Abbott Laboratories has a 1-year low of $60.32 and a 1-year high of $85.45. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.13 and a current ratio of 1.58.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.02. The company had revenue of $7.54 billion for the quarter, compared to the consensus estimate of $7.49 billion. Abbott Laboratories had a return on equity of 16.86% and a net margin of 8.53%. The firm’s revenue was up 2.0% compared to the same quarter last year. During the same period last year, the business posted $0.59 earnings per share. Analysts expect that Abbott Laboratories will post 3.22 EPS for the current fiscal year.

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 given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.52%. The ex-dividend date is Friday, July 12th. Abbott Laboratories’s dividend payout ratio is currently 44.44%.

In other news, insider Brian J. Blaser sold 450,062 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $75.52, for a total value of $33,988,682.24. Following the sale, the insider now directly owns 295,745 shares of the company’s stock, valued at $22,334,662.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Daniel Gesua Sive Salvadori sold 10,600 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $82.00, for a total value of $869,200.00. Following the completion of the sale, the insider now directly owns 99,479 shares in the company, valued at $8,157,278. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,199,910 shares of company stock worth $93,837,075. 0.70% of the stock is currently owned by company insiders.

ABT has been the topic of a number of research reports. Zacks Investment Research downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, March 5th. Barclays set a $84.00 price target on shares of Abbott Laboratories and gave the stock a “buy” rating in a research note on Friday, March 8th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Abbott Laboratories in a research note on Thursday, March 14th. Royal Bank of Canada upped their price target on shares of Abbott Laboratories to $82.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. They noted that the move was a valuation call. Finally, William Blair reissued an “outperform” rating on shares of Abbott Laboratories in a research report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $81.38.

About Abbott Laboratories

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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