Abbott Laboratories (NYSE:ABT) is Swarthmore Group Inc.’s 2nd Largest Position

Swarthmore Group Inc. boosted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 1,022.3% in the first quarter, reports. The institutional investor owned 100,140 shares of the healthcare product maker’s stock after purchasing an additional 91,217 shares during the quarter. Abbott Laboratories comprises 3.3% of Swarthmore Group Inc.’s portfolio, making the stock its 2nd biggest position. Swarthmore Group Inc.’s holdings in Abbott Laboratories were worth $12,001,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Atlas Private Wealth Advisors grew its stake in shares of Abbott Laboratories by 107.3% during the 4th quarter. Atlas Private Wealth Advisors now owns 228 shares of the healthcare product maker’s stock worth $25,000 after purchasing an additional 118 shares during the period. Inspire Advisors LLC acquired a new stake in shares of Abbott Laboratories during the 4th quarter worth approximately $29,000. Black Swift Group LLC acquired a new stake in Abbott Laboratories in the 4th quarter valued at $35,000. Krane Funds Advisors LLC acquired a new stake in Abbott Laboratories in the 4th quarter valued at $39,000. Finally, PrairieView Partners LLC acquired a new stake in Abbott Laboratories in the 4th quarter valued at $41,000. 72.58% of the stock is owned by institutional investors.

Shares of NYSE:ABT opened at $119.53 on Tuesday. Abbott Laboratories has a 1 year low of $86.16 and a 1 year high of $128.54. The firm has a market capitalization of $211.75 billion, a PE ratio of 63.24, a price-to-earnings-growth ratio of 2.06 and a beta of 0.83. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.70 and a quick ratio of 1.19. The firm’s 50-day moving average is $120.90 and its two-hundred day moving average is $115.19.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Monday, April 19th. The healthcare product maker reported $1.32 EPS for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.05. Abbott Laboratories had a return on equity of 18.19% and a net margin of 10.50%. The business had revenue of $10.45 billion during the quarter, compared to the consensus estimate of $10.72 billion. During the same period in the previous year, the company posted $0.65 earnings per share. The business’s revenue for the quarter was up 35.2% on a year-over-year basis. Analysts expect that Abbott Laboratories will post 3.57 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 17th. Stockholders of record on Thursday, April 15th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date is Wednesday, April 14th. Abbott Laboratories’s dividend payout ratio is presently 55.56%.

In related news, EVP Andrea F. Wainer sold 6,200 shares of the company’s stock in a transaction that occurred on Wednesday, March 3rd. The stock was sold at an average price of $121.79, for a total value of $755,098.00. Following the completion of the transaction, the executive vice president now directly owns 51,550 shares of the company’s stock, valued at $6,278,274.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michelle Kumbier purchased 2,040 shares of the stock in a transaction that occurred on Tuesday, February 23rd. The stock was acquired at an average cost of $122.50 per share, with a total value of $249,900.00. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 8,726 shares of company stock valued at $1,064,230. Corporate insiders own 1.70% of the company’s stock.

Several equities research analysts have issued reports on the stock. Morgan Stanley lifted their target price on shares of Abbott Laboratories from $136.00 to $140.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 27th. Cowen lifted their price target on Abbott Laboratories from $113.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, January 28th. BTIG Research upgraded Abbott Laboratories from a “neutral” rating to a “buy” rating and set a $140.00 price target on the stock in a report on Thursday, January 28th. Atlantic Securities began coverage on Abbott Laboratories in a report on Wednesday, April 21st. They set a “neutral” rating and a $122.00 price target on the stock. Finally, William Blair restated an “outperform” rating on shares of Abbott Laboratories in a report on Tuesday, April 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $126.06.

About Abbott Laboratories

Abbott Laboratories 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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