Abbott Laboratories (NYSE:ABT) Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. lowered its position in Abbott Laboratories (NYSE:ABT) by 9.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 85,144 shares of the healthcare product maker’s stock after selling 9,199 shares during the period. iA Global Asset Management Inc.’s holdings in Abbott Laboratories were worth $11,294,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Redwood Park Advisors LLC acquired a new position in Abbott Laboratories during the fourth quarter worth about $25,000. Hughes Financial Services LLC acquired a new position in Abbott Laboratories during the first quarter worth about $27,000. Abound Financial LLC acquired a new position in Abbott Laboratories during the first quarter worth about $28,000. Wormser Freres Gestion acquired a new position in Abbott Laboratories during the fourth quarter worth about $32,000. Finally, JCIC Asset Management Inc. acquired a new position in Abbott Laboratories during the first quarter worth about $32,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Shares of NYSE:ABT opened at $130.05 on Tuesday. The firm’s 50 day moving average is $131.76 and its two-hundred day moving average is $130.72. Abbott Laboratories has a 52 week low of $107.11 and a 52 week high of $141.23. The firm has a market capitalization of $226.27 billion, a P/E ratio of 16.30, a PEG ratio of 2.41 and a beta of 0.70. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.26. The company had revenue of $11.14 billion for 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 18.32%. The business’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.14 EPS. Analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.8%. Abbott Laboratories’s dividend payout ratio is currently 29.57%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. BTIG Research decreased their price target on shares of Abbott Laboratories from $148.00 to $145.00 and set a “buy” rating on the stock in a research note on Friday, July 18th. Mizuho upped their price objective on shares of Abbott Laboratories from $130.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday, July 16th. Royal Bank Of Canada lifted their price objective on Abbott Laboratories from $145.00 to $147.00 and gave the company an “outperform” rating in a research note on Tuesday, July 15th. Stifel Nicolaus lifted their price objective on Abbott Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, April 17th. Finally, Leerink Partners initiated coverage on Abbott Laboratories in a research note on Monday, June 16th. They issued a “market perform” rating and a $143.00 target price for the company. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.