Mather Group LLC. Sells 12,150 Shares of Abbott Laboratories (NYSE:ABT)

Mather Group LLC. cut its stake in shares of Abbott Laboratories (NYSE:ABT) by 33.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,781 shares of the healthcare product maker’s stock after selling 12,150 shares during the quarter. Mather Group LLC.’s holdings in Abbott Laboratories were worth $2,618,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Alliance Wealth Advisors LLC UT lifted its holdings in shares of Abbott Laboratories by 0.4% during the 4th quarter. Alliance Wealth Advisors LLC UT now owns 25,085 shares of the healthcare product maker’s stock worth $2,761,000 after acquiring an additional 92 shares during the last quarter. Rappaport Reiches Capital Management LLC boosted its holdings in shares of Abbott Laboratories by 0.8% in the 4th quarter. Rappaport Reiches Capital Management LLC now owns 12,287 shares of the healthcare product maker’s stock worth $1,352,000 after purchasing an additional 94 shares in the last quarter. Avion Wealth increased its position in shares of Abbott Laboratories by 19.4% during the 4th quarter. Avion Wealth now owns 591 shares of the healthcare product maker’s stock valued at $65,000 after purchasing an additional 96 shares during the last quarter. Berger Financial Group Inc raised its holdings in shares of Abbott Laboratories by 3.0% during the 4th quarter. Berger Financial Group Inc now owns 3,423 shares of the healthcare product maker’s stock valued at $377,000 after buying an additional 99 shares in the last quarter. Finally, Renaissance Investment Group LLC lifted its position in Abbott Laboratories by 0.7% in the 4th quarter. Renaissance Investment Group LLC now owns 14,204 shares of the healthcare product maker’s stock worth $1,563,000 after buying an additional 100 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions 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 transaction of $1,055,843.29. Following the sale, the executive vice president now owns 211,341 shares of the company’s stock, valued at $22,099,928.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Lisa D. Earnhardt sold 22,852 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $106.25, for a total value of $2,428,025.00. Following the transaction, the executive vice president now owns 61,462 shares in the company, valued at approximately $6,530,337.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Jr. Robert E. Funck sold 10,097 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $104.57, for a total transaction of $1,055,843.29. Following the sale, the executive vice president now owns 211,341 shares of the company’s stock, valued at $22,099,928.37. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Abbott Laboratories Trading Up 0.5 %

Shares of ABT opened at $103.99 on Thursday. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.32. The firm’s 50-day moving average price is $105.20 and its 200-day moving average price is $110.10. The firm has a market capitalization of $180.90 billion, a price-to-earnings ratio of 32.40, a PEG ratio of 2.50 and a beta of 0.74.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.02. The business had revenue of $9.96 billion for the quarter, compared to analysts’ expectations of $9.88 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.96%. The business’s revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.03 EPS. Sell-side analysts anticipate that Abbott Laboratories will post 4.62 EPS for the current year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Monday, July 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $125.00 price objective on shares of Abbott Laboratories in a report on Tuesday, June 4th. Raymond James reiterated 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 lifted their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Citigroup dropped their price target on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. Finally, The Goldman Sachs Group initiated coverage on shares of Abbott Laboratories in a research report on Thursday, May 30th. They issued a “buy” rating and a $121.00 price objective on the stock. Three investment 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 has a consensus rating of “Moderate Buy” and a consensus price target of $120.64.

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.