Abbott Laboratories (NYSE:ABT) Shares Sold by Shum Financial Group Inc.

Shum Financial Group Inc. trimmed its stake in shares of Abbott Laboratories (NYSE:ABT) by 4.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,386 shares of the healthcare product maker’s stock after selling 361 shares during the quarter. Shum Financial Group Inc.’s holdings in Abbott Laboratories were worth $1,112,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Masso Torrence Wealth Management Inc. bought a new position in Abbott Laboratories during the 1st quarter worth $220,000. Nilsine Partners LLC boosted its holdings in shares of Abbott Laboratories by 9.4% during the first quarter. Nilsine Partners LLC now owns 24,923 shares of the healthcare product maker’s stock valued at $3,306,000 after acquiring an additional 2,143 shares during the period. Weaver Capital Management LLC grew its position in shares of Abbott Laboratories by 1.4% during the first quarter. Weaver Capital Management LLC now owns 8,424 shares of the healthcare product maker’s stock worth $1,117,000 after acquiring an additional 114 shares during the last quarter. Praxis Investment Management Inc. increased its holdings in shares of Abbott Laboratories by 3.2% in the 1st quarter. Praxis Investment Management Inc. now owns 45,450 shares of the healthcare product maker’s stock worth $6,029,000 after acquiring an additional 1,430 shares during the period. Finally, World Equity Group Inc. lifted its position in Abbott Laboratories by 58.1% in the 1st quarter. World Equity Group Inc. now owns 8,501 shares of the healthcare product maker’s stock valued at $1,103,000 after purchasing an additional 3,125 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $132.88 on Friday. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $141.23. The company has a current ratio of 1.78, a quick ratio of 1.27 and a debt-to-equity ratio of 0.26. The firm has a 50-day moving average of $132.19 and a two-hundred day moving average of $126.95. The company has a market capitalization of $231.20 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 2.53 and a beta of 0.73.

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

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date is Tuesday, July 15th. Abbott Laboratories’s payout ratio is 30.61%.

Insider Transactions at Abbott Laboratories

In related 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 value of $337,116.00. Following the completion of the transaction, the director now owns 34,058 shares in the company, valued at $4,415,960.28. This trade represents a 7.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.46% of the stock is owned by insiders.

Analysts Set New Price Targets

ABT has been the subject of several recent analyst reports. Barclays upped their target price on shares of Abbott Laboratories from $158.00 to $159.00 and gave the stock an “overweight” rating in a research report on Thursday, April 17th. Leerink Partners initiated coverage on Abbott Laboratories in a research report on Monday, June 16th. They issued a “market perform” rating and a $143.00 target price on the stock. Wells Fargo & Company lifted their target price on Abbott Laboratories from $136.00 to $147.00 and gave the company an “overweight” rating in a research note on Thursday, April 17th. Citigroup increased their price target on Abbott Laboratories from $135.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Finally, Jefferies Financial Group lifted their price objective on shares of Abbott Laboratories from $135.00 to $137.00 and gave the company a “hold” rating in a research note on Thursday, April 17th. Six investment 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.61.

About Abbott Laboratories

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.