Abbott Laboratories (NYSE:ABT) Shares Sold by Dynamic Advisor Solutions LLC

Dynamic Advisor Solutions LLC lowered its stake in shares of Abbott Laboratories (NYSE:ABTFree Report) by 31.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,003 shares of the healthcare product maker’s stock after selling 14,955 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Abbott Laboratories were worth $3,637,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Fermata Advisors LLC increased its holdings in Abbott Laboratories by 48.5% in the 1st quarter. Fermata Advisors LLC now owns 2,924 shares of the healthcare product maker’s stock worth $332,000 after buying an additional 955 shares during the period. Annex Advisory Services LLC increased its holdings in Abbott Laboratories by 0.4% in the 1st quarter. Annex Advisory Services LLC now owns 63,486 shares of the healthcare product maker’s stock worth $7,216,000 after buying an additional 279 shares during the period. Salvus Wealth Management LLC increased its holdings in Abbott Laboratories by 17.0% in the 1st quarter. Salvus Wealth Management LLC now owns 4,134 shares of the healthcare product maker’s stock worth $470,000 after buying an additional 601 shares during the period. Austin Private Wealth LLC increased its holdings in Abbott Laboratories by 9.2% in the 1st quarter. Austin Private Wealth LLC now owns 2,156 shares of the healthcare product maker’s stock worth $240,000 after buying an additional 182 shares during the period. Finally, Nova R Wealth Inc. acquired a new position in Abbott Laboratories in the 1st quarter worth approximately $364,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Trading Up 0.2 %

Shares of NYSE ABT traded up $0.17 during trading on Tuesday, hitting $105.47. 2,788,441 shares of the company were exchanged, compared to its average volume of 5,685,762. Abbott Laboratories has a 12-month low of $89.67 and a 12-month high of $121.64. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.11 and a current ratio of 1.60. The company has a fifty day moving average price of $104.97 and a 200-day moving average price of $110.16. The firm has a market capitalization of $183.48 billion, a PE ratio of 32.80, a P/E/G ratio of 2.54 and a beta of 0.74.

Abbott Laboratories (NYSE:ABTGet Free Report) last posted its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, topping the consensus estimate of $0.96 by $0.02. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.96%. The business had revenue of $9.96 billion for the quarter, compared to analyst estimates of $9.88 billion. During the same quarter in the previous year, the firm earned $1.03 EPS. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, equities research analysts expect that Abbott Laboratories will post 4.62 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $2.20 annualized dividend and a yield of 2.09%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 68.54%.

Wall Street Analysts Forecast Growth

ABT has been the topic of several recent research reports. Raymond James restated a “buy” rating and issued a $124.00 price objective on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Evercore ISI upped their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Royal Bank of Canada restated an “outperform” rating and issued a $125.00 price objective on shares of Abbott Laboratories in a research report on Tuesday, June 4th. Barclays lowered their price objective on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a research report on Monday, April 22nd. Finally, The Goldman Sachs Group initiated coverage on Abbott Laboratories in a research report on Thursday, May 30th. They set a “buy” rating and a $121.00 target price on the stock. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $120.64.

Get Our Latest Stock Report on ABT

Insider Activity at Abbott Laboratories

In related news, EVP Jr. Robert E. Funck sold 10,097 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $104.57, for a total value of $1,055,843.29. Following the sale, the executive vice president now directly owns 211,341 shares in the company, valued at approximately $22,099,928.37. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Jr. Robert E. Funck sold 10,097 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $104.57, for a total value of $1,055,843.29. Following the sale, the executive vice president now directly owns 211,341 shares in the company, valued at approximately $22,099,928.37. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Lisa D. Earnhardt sold 22,852 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the completion of the sale, the executive vice president now owns 61,462 shares in the company, valued at $6,530,337.50. The disclosure for this sale can be found here. 0.47% of the stock is owned by insiders.

Abbott Laboratories Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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