Robertson Stephens Wealth Management LLC Sells 3,238 Shares of Abbott Laboratories (NYSE:ABT)

Robertson Stephens Wealth Management LLC lessened its stake in shares of Abbott Laboratories (NYSE:ABT) by 13.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,983 shares of the healthcare product maker’s stock after selling 3,238 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Abbott Laboratories were worth $2,783,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in ABT. Vanguard Group Inc. boosted its stake in Abbott Laboratories by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 168,645,397 shares of the healthcare product maker’s stock valued at $19,075,481,000 after buying an additional 739,260 shares during the last quarter. Capital International Investors raised its holdings in shares of Abbott Laboratories by 3.4% during the 4th quarter. Capital International Investors now owns 67,972,953 shares of the healthcare product maker’s stock worth $7,688,160,000 after acquiring an additional 2,229,026 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of Abbott Laboratories by 1.5% in the fourth quarter. Capital Research Global Investors now owns 54,097,005 shares of the healthcare product maker’s stock valued at $6,118,903,000 after purchasing an additional 795,073 shares in the last quarter. Geode Capital Management LLC increased its position in Abbott Laboratories by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 35,668,834 shares of the healthcare product maker’s stock worth $4,023,027,000 after purchasing an additional 765,636 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in Abbott Laboratories by 2.3% in the fourth quarter. Wellington Management Group LLP now owns 26,392,302 shares of the healthcare product maker’s stock worth $2,985,233,000 after purchasing an additional 581,325 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insider Activity

In other news, Director Sally E. Blount sold 2,600 shares of the 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 transaction, the director now owns 34,058 shares of the company’s stock, valued at approximately $4,415,960.28. This represents a 7.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Royal Bank Of Canada increased their price objective on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” rating in a research report on Thursday, April 17th. Stifel Nicolaus upped their target price on shares of Abbott Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. Leerink Partners assumed coverage on Abbott Laboratories in a research report on Monday. They issued a “market perform” rating and a $143.00 price target for the company. Jefferies Financial Group upped their price objective on Abbott Laboratories from $135.00 to $137.00 and gave the company a “hold” rating in a research report on Thursday, April 17th. Finally, The Goldman Sachs Group raised their price objective on Abbott Laboratories from $138.00 to $154.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Six analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $142.61.

Abbott Laboratories Price Performance

ABT opened at $132.18 on Wednesday. The business has a fifty day moving average of $131.80 and a 200 day moving average of $126.62. The stock has a market cap of $229.97 billion, a P/E ratio of 17.14, a PEG ratio of 2.53 and a beta of 0.73. The company has a quick ratio of 1.27, a current ratio of 1.78 and a debt-to-equity ratio of 0.26. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $141.23.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. The firm had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.38 billion. Abbott Laboratories had a net margin of 31.89% and a return on equity of 19.01%. As a group, sell-side analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

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. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend is Tuesday, July 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 30.61%.

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.