Guardian Capital Advisors LP Sells 250 Shares of Abbott Laboratories (NYSE:ABT)

Guardian Capital Advisors LP reduced its stake in shares of Abbott Laboratories (NYSE:ABTGet Rating) by 7.4% during the second quarter, Holdings Channel reports. The firm owned 3,150 shares of the healthcare product maker’s stock after selling 250 shares during the quarter. Guardian Capital Advisors LP’s holdings in Abbott Laboratories were worth $333,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Varma Mutual Pension Insurance Co increased its position in Abbott Laboratories by 4.2% during the 2nd quarter. Varma Mutual Pension Insurance Co now owns 185,885 shares of the healthcare product maker’s stock valued at $20,196,000 after purchasing an additional 7,544 shares during the period. TCG Advisory Services LLC grew its position in shares of Abbott Laboratories by 9.0% in the 2nd quarter. TCG Advisory Services LLC now owns 3,474 shares of the healthcare product maker’s stock worth $377,000 after buying an additional 288 shares during the period. First Interstate Bank grew its position in shares of Abbott Laboratories by 9.6% in the 2nd quarter. First Interstate Bank now owns 27,087 shares of the healthcare product maker’s stock worth $2,944,000 after buying an additional 2,376 shares during the period. Bowen Hanes & Co. Inc. grew its position in shares of Abbott Laboratories by 4.8% in the 2nd quarter. Bowen Hanes & Co. Inc. now owns 4,399 shares of the healthcare product maker’s stock worth $478,000 after buying an additional 200 shares during the period. Finally, Bar Harbor Wealth Management boosted its stake in Abbott Laboratories by 2.9% in the 2nd quarter. Bar Harbor Wealth Management now owns 162,882 shares of the healthcare product maker’s stock worth $17,697,000 after purchasing an additional 4,614 shares in the last quarter. 73.03% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Up 1.1 %

Shares of ABT stock traded up $1.15 during trading hours on Thursday, reaching $106.02. 4,617,639 shares of the company’s stock were exchanged, compared to its average volume of 5,289,895. Abbott Laboratories has a 1 year low of $93.25 and a 1 year high of $142.60. The stock has a market cap of $184.85 billion, a PE ratio of 23.93, a PEG ratio of 3.96 and a beta of 0.70. The company has a current ratio of 1.86, a quick ratio of 1.43 and a debt-to-equity ratio of 0.43. The stock’s fifty day moving average price is $100.84 and its two-hundred day moving average price is $106.11.

Abbott Laboratories (NYSE:ABTGet Rating) last released its earnings results on Wednesday, October 19th. The healthcare product maker reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.21. Abbott Laboratories had a return on equity of 27.79% and a net margin of 17.52%. The firm had revenue of $10.41 billion during the quarter, compared to the consensus estimate of $9.65 billion. During the same quarter in the previous year, the company posted $1.40 earnings per share. The company’s revenue was down 4.7% compared to the same quarter last year. Research analysts predict that Abbott Laboratories will post 5.21 EPS for the current year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date was Thursday, October 13th. Abbott Laboratories’s payout ratio is presently 42.44%.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, EVP Joseph J. Manning sold 23,008 shares of the business’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $107.00, for a total value of $2,461,856.00. Following the completion of the transaction, the executive vice president now directly owns 53,245 shares of the company’s stock, valued at $5,697,215. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Joseph J. Manning sold 23,008 shares of the business’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $107.00, for a total transaction of $2,461,856.00. Following the completion of the sale, the executive vice president now directly owns 53,245 shares in the company, valued at $5,697,215. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel J. Starks sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, October 27th. The stock was sold at an average price of $97.46, for a total value of $4,873,000.00. Following the sale, the director now owns 6,873,500 shares of the company’s stock, valued at $669,891,310. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ABT shares. Raymond James lowered their target price on shares of Abbott Laboratories from $117.00 to $109.00 and set an “outperform” rating on the stock in a research note on Friday, October 21st. Royal Bank of Canada lowered their price objective on shares of Abbott Laboratories from $132.00 to $126.00 and set an “outperform” rating on the stock in a research note on Thursday, October 20th. Wells Fargo & Company cut their price objective on shares of Abbott Laboratories from $150.00 to $140.00 and set an “overweight” rating for the company in a report on Monday, October 10th. BTIG Research cut their price objective on shares of Abbott Laboratories from $126.00 to $123.00 and set a “buy” rating for the company in a report on Monday, October 17th. Finally, StockNews.com downgraded Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $123.00.

About Abbott Laboratories

(Get Rating)

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 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.

Read More

Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abbott Laboratories (NYSE:ABTGet Rating).

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

Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.