Stratos Wealth Advisors LLC Sells 11,284 Shares of Abbott Laboratories (NYSE:ABT)

Stratos Wealth Advisors LLC cut its position in Abbott Laboratories (NYSE:ABT) by 50.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,192 shares of the healthcare product maker’s stock after selling 11,284 shares during the quarter. Stratos Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $1,485,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in ABT. Cim LLC boosted its holdings in shares of Abbott Laboratories by 0.4% during the 4th quarter. Cim LLC now owns 16,967 shares of the healthcare product maker’s stock worth $1,919,000 after buying an additional 73 shares in the last quarter. Capital Square LLC increased its position in shares of Abbott Laboratories by 2.7% during the 4th quarter. Capital Square LLC now owns 2,941 shares of the healthcare product maker’s stock valued at $368,000 after purchasing an additional 77 shares during the last quarter. Consilium Wealth Advisory LLC increased its position in shares of Abbott Laboratories by 2.1% during the 1st quarter. Consilium Wealth Advisory LLC now owns 3,822 shares of the healthcare product maker’s stock valued at $507,000 after purchasing an additional 78 shares during the last quarter. Cyrus J. Lawrence LLC increased its holdings in Abbott Laboratories by 9.0% in the 4th quarter. Cyrus J. Lawrence LLC now owns 954 shares of the healthcare product maker’s stock worth $107,000 after acquiring an additional 79 shares during the last quarter. Finally, Edge Financial Advisors LLC increased its holdings in Abbott Laboratories by 3.3% in the 1st quarter. Edge Financial Advisors LLC now owns 2,530 shares of the healthcare product maker’s stock worth $336,000 after acquiring an additional 81 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Buying and Selling

In related news, Director Sally E. Blount sold 2,600 shares of the business’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 completion of the sale, the director directly owned 34,058 shares of the company’s stock, valued at $4,415,960.28. The trade was a 7.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.46% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on ABT. Stifel Nicolaus boosted their price objective on Abbott Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, April 17th. Raymond James Financial boosted their target price on Abbott Laboratories from $132.00 to $142.00 and gave the company an “outperform” rating in a research note on Thursday, April 17th. Evercore ISI upped their price target on Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday. Leerink Partners began coverage on Abbott Laboratories in a research note on Monday, June 16th. They issued a “market perform” rating and a $143.00 price target on the stock. Finally, Wells Fargo & Company increased their target price on Abbott Laboratories from $136.00 to $147.00 and gave the stock an “overweight” rating in a research note on Thursday, April 17th. Six equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $143.11.

Abbott Laboratories Trading Down 0.3%

ABT opened at $133.35 on Wednesday. Abbott Laboratories has a one year low of $99.71 and a one year high of $141.23. The business’s 50 day moving average price is $133.43 and its 200 day moving average price is $128.69. The stock has a market capitalization of $232.01 billion, a PE ratio of 17.30, a P/E/G ratio of 2.54 and a beta of 0.73. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.27 and a current ratio of 1.78.

Abbott Laboratories (NYSE:ABT) last posted its quarterly 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 company had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.38 billion. Abbott Laboratories had a return on equity of 19.01% and a net margin of 31.89%. As a group, equities research analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.77%. The ex-dividend date is Tuesday, July 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 30.61%.

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.