Abbott Laboratories (NYSE:ABT) Shares Sold by Sheaff Brock Investment Advisors LLC

Sheaff Brock Investment Advisors LLC trimmed its holdings in Abbott Laboratories (NYSE:ABT) by 59.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,033 shares of the healthcare product maker’s stock after selling 5,833 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Abbott Laboratories were worth $535,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Hughes Financial Services LLC acquired a new stake in shares of Abbott Laboratories in the first quarter valued at about $27,000. Abound Financial LLC acquired a new stake in Abbott Laboratories during the first quarter worth about $28,000. Redwood Park Advisors LLC acquired a new stake in Abbott Laboratories during the fourth quarter worth about $25,000. JCIC Asset Management Inc. acquired a new stake in Abbott Laboratories during the first quarter worth about $32,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in Abbott Laboratories during the first quarter worth about $34,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Abbott Laboratories

In related news, Director Sally E. Blount sold 2,600 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total value of $337,116.00. Following the completion of the transaction, the director owned 34,058 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.46% of the stock is owned by corporate insiders.

Abbott Laboratories Trading Down 0.2%

Shares of ABT stock opened at $126.28 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.27 and a current ratio of 1.78. The stock has a market capitalization of $219.71 billion, a P/E ratio of 15.82, a price-to-earnings-growth ratio of 2.40 and a beta of 0.73. The company has a 50 day moving average price of $132.20 and a 200 day moving average price of $130.19. Abbott Laboratories has a fifty-two week low of $99.92 and a fifty-two week high of $141.23.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.26. The firm had revenue of $11.14 billion during the quarter, compared to analysts’ expectations of $11.01 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.83%. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.14 earnings per share. Equities research analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be paid a $0.59 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.87%. Abbott Laboratories’s dividend payout ratio is currently 29.57%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ABT shares. Stifel Nicolaus raised their price objective on shares of Abbott Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. Leerink Partners started coverage on shares of Abbott Laboratories in a research report on Monday, June 16th. They set a “market perform” rating and a $143.00 price objective for the company. Raymond James Financial cut their price objective on shares of Abbott Laboratories from $142.00 to $141.00 and set an “outperform” rating for the company in a research report on Friday, July 18th. Wells Fargo & Company cut their price objective on shares of Abbott Laboratories from $147.00 to $142.00 and set an “overweight” rating for the company in a research report on Friday, July 18th. Finally, William Blair raised shares of Abbott Laboratories to a “strong-buy” rating in a research note on Thursday, July 17th. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.47.

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.