Abbott Laboratories (NYSE:ABT) Shares Sold by Sfmg LLC

Sfmg LLC lowered its stake in Abbott Laboratories (NYSE:ABT) by 3.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,414 shares of the healthcare product maker’s stock after selling 172 shares during the quarter. Sfmg LLC’s holdings in Abbott Laboratories were worth $586,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of ABT. Redwood Park Advisors LLC acquired a new stake in Abbott Laboratories during the 4th quarter valued at approximately $25,000. Hughes Financial Services LLC acquired a new stake in Abbott Laboratories during the 1st quarter valued at approximately $27,000. Abound Financial LLC acquired a new stake in Abbott Laboratories during the 1st quarter valued at approximately $28,000. Wormser Freres Gestion acquired a new stake in Abbott Laboratories during the 4th quarter valued at approximately $32,000. Finally, JCIC Asset Management Inc. acquired a new stake in Abbott Laboratories during the 1st quarter valued at approximately $32,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Up 0.9%

Shares of Abbott Laboratories stock opened at $127.32 on Monday. The business’s fifty day moving average price is $131.78 and its two-hundred day moving average price is $130.61. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. The company has a market capitalization of $221.60 billion, a P/E ratio of 15.95, a PEG ratio of 2.41 and a beta of 0.70. Abbott Laboratories has a 1-year low of $107.11 and a 1-year high of $141.23.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, meeting the consensus estimate of $1.26. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%. The firm had revenue of $11.14 billion for the quarter, compared to the consensus estimate of $11.01 billion. During the same quarter in the previous year, the business earned $1.14 EPS. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, research analysts forecast that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders 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 dividend yield of 1.9%. The ex-dividend date of this dividend is Tuesday, July 15th. Abbott Laboratories’s payout ratio is currently 29.57%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. BTIG Research lowered their price objective on Abbott Laboratories from $148.00 to $145.00 and set a “buy” rating for the company in a research note on Friday, July 18th. Barclays raised their price objective on Abbott Laboratories from $158.00 to $159.00 and gave the company an “overweight” rating in a research note on Thursday, April 17th. Stifel Nicolaus lifted their target price on Abbott Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. Leerink Partnrs upgraded Abbott Laboratories to a “hold” rating in a research report on Monday, June 16th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $145.00 target price (up previously from $133.00) on shares of Abbott Laboratories in a research report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $144.47.

Abbott Laboratories Profile

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.