Abbott Laboratories (NYSE:ABT) Shares Sold by International Assets Investment Management LLC

International Assets Investment Management LLC reduced its holdings in shares of Abbott Laboratories (NYSE:ABT) by 18.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,991 shares of the healthcare product maker’s stock after selling 2,730 shares during the quarter. International Assets Investment Management LLC’s holdings in Abbott Laboratories were worth $1,591,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Redwood Park Advisors LLC acquired a new stake in Abbott Laboratories during the fourth quarter worth approximately $25,000. Noble Wealth Management PBC purchased a new position in shares of Abbott Laboratories in the 4th quarter valued at $26,000. NewSquare Capital LLC raised its stake in Abbott Laboratories by 78.4% during the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock worth $27,000 after acquiring an additional 105 shares in the last quarter. WealthTrak Capital Management LLC purchased a new stake in Abbott Laboratories in the fourth quarter valued at $28,000. Finally, Rialto Wealth Management LLC acquired a new position in Abbott Laboratories in the fourth quarter valued at $29,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Analysts Set New Price Targets

ABT has been the subject of several research reports. Barclays upped their price target on shares of Abbott Laboratories from $158.00 to $159.00 and gave the company an “overweight” rating in a research report on Thursday, April 17th. Leerink Partnrs upgraded shares of Abbott Laboratories to a “hold” rating in a research note on Monday, June 16th. Stifel Nicolaus raised their price target on Abbott Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, April 17th. Wells Fargo & Company upped their price objective on Abbott Laboratories from $136.00 to $147.00 and gave the company an “overweight” rating in a research note on Thursday, April 17th. Finally, Morgan Stanley lifted their target price on Abbott Laboratories from $117.00 to $127.00 and gave the company an “equal weight” rating in a research note on Thursday, April 17th. Six investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Abbott Laboratories has an average rating of “Moderate Buy” and an average target price of $142.61.

Abbott Laboratories Trading Up 3.7%

Abbott Laboratories stock opened at $138.13 on Wednesday. The stock has a 50-day moving average price of $132.54 and a 200 day moving average price of $127.23. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $141.23. The stock has a market cap of $240.32 billion, a PE ratio of 17.92, a P/E/G ratio of 2.53 and a beta of 0.73. The company has a current ratio of 1.78, a quick ratio of 1.27 and a debt-to-equity ratio of 0.26.

Abbott Laboratories (NYSE:ABT) last issued 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 business had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.38 billion. Abbott Laboratories had a net margin of 31.89% and a return on equity of 19.01%. Equities research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date is Tuesday, July 15th. Abbott Laboratories’s dividend payout ratio is currently 30.61%.

Insider Buying and Selling at Abbott Laboratories

In other news, Director Sally E. Blount sold 2,600 shares of the firm’s stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total value of $337,116.00. Following the transaction, the director now directly 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 is available through this hyperlink. 0.46% of the stock is owned by company insiders.

Abbott Laboratories Company 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.