Grandview Asset Management LLC Sells 228 Shares of Abbott Laboratories (NYSE:ABT)

Grandview Asset Management LLC lessened its holdings in shares of Abbott Laboratories (NYSE:ABT) by 10.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,002 shares of the healthcare product maker’s stock after selling 228 shares during the period. Grandview Asset Management LLC’s holdings in Abbott Laboratories were worth $266,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of ABT. Three Seasons Wealth LLC bought a new stake in Abbott Laboratories in the 4th quarter valued at approximately $1,428,000. Kelly Financial Services LLC acquired a new position in shares of Abbott Laboratories during the 1st quarter worth approximately $216,000. Voleon Capital Management LP acquired a new position in shares of Abbott Laboratories during the 4th quarter worth approximately $273,000. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of Abbott Laboratories by 5.5% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,095,443 shares of the healthcare product maker’s stock worth $133,691,000 after purchasing an additional 57,499 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG increased its position in shares of Abbott Laboratories by 1.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker’s stock worth $17,274,000 after purchasing an additional 2,774 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

ABT opened at $132.18 on Wednesday. The business has a fifty day simple moving average of $131.80 and a 200 day simple moving average of $126.62. The company has a market capitalization of $229.97 billion, a PE ratio of 17.14, a price-to-earnings-growth ratio of 2.53 and a beta of 0.73. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.78 and a quick ratio of 1.27.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. The firm had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.38 billion. Abbott Laboratories had a return on equity of 19.01% and a net margin of 31.89%. Research analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.79%. Abbott Laboratories’s payout ratio is 30.61%.

Insider Activity

In related news, Director Sally E. Blount sold 2,600 shares of the company’s stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total transaction of $337,116.00. Following the completion of the sale, the director now directly owns 34,058 shares in the company, valued at $4,415,960.28. This represents a 7.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ABT shares. Leerink Partners started coverage on Abbott Laboratories in a research report on Monday. They set a “market perform” rating and a $143.00 price target on the stock. Barclays boosted their price target on Abbott Laboratories from $158.00 to $159.00 and gave the stock an “overweight” rating in a research report on Thursday, April 17th. Citigroup boosted their price target on Abbott Laboratories from $135.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Piper Sandler reaffirmed an “overweight” rating and set a $145.00 price target (up previously from $133.00) on shares of Abbott Laboratories in a research report on Thursday, April 17th. Finally, Stifel Nicolaus boosted their target price on Abbott Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, April 17th. Six equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Abbott Laboratories currently has an average rating of “Moderate Buy” and an average price target of $142.61.

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.