Abbott Laboratories (NYSE:ABT) Shares Sold by Addenda Capital Inc.

Addenda Capital Inc. lessened its stake in Abbott Laboratories (NYSE:ABT) by 0.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,107 shares of the healthcare product maker’s stock after selling 137 shares during the period. Addenda Capital Inc.’s holdings in Abbott Laboratories were worth $5,582,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Register Financial Advisors LLC increased its position in Abbott Laboratories by 6.2% during the 1st quarter. Register Financial Advisors LLC now owns 3,114 shares of the healthcare product maker’s stock worth $354,000 after purchasing an additional 183 shares during the period. Capital Asset Advisory Services LLC lifted its stake in Abbott Laboratories by 9.7% in the 1st quarter. Capital Asset Advisory Services LLC now owns 24,413 shares of the healthcare product maker’s stock valued at $2,715,000 after buying an additional 2,167 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its stake in shares of Abbott Laboratories by 30.5% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 18,412 shares of the healthcare product maker’s stock worth $2,093,000 after purchasing an additional 4,303 shares during the period. Tarbox Family Office Inc. lifted its stake in shares of Abbott Laboratories by 12.8% during the 1st quarter. Tarbox Family Office Inc. now owns 50,740 shares of the healthcare product maker’s stock worth $5,767,000 after purchasing an additional 5,751 shares during the period. Finally, Stokes Capital Advisors LLC lifted its stake in shares of Abbott Laboratories by 2.7% during the 1st quarter. Stokes Capital Advisors LLC now owns 37,249 shares of the healthcare product maker’s stock worth $4,234,000 after purchasing an additional 973 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 0.7 %

Shares of Abbott Laboratories stock opened at $103.94 on Friday. The business has a 50-day moving average of $104.79 and a 200-day moving average of $110.08. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.11. The company has a market capitalization of $180.82 billion, a PE ratio of 32.38, a P/E/G ratio of 2.52 and a beta of 0.74. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued 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 net margin of 13.96% and a return on equity of 20.18%. The business had revenue of $9.96 billion for the quarter, compared to analysts’ expectations of $9.88 billion. During the same quarter last year, the company posted $1.03 earnings per share. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, equities analysts forecast that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, July 15th. This represents a $2.20 annualized dividend and a dividend yield of 2.12%. Abbott Laboratories’s payout ratio is 68.54%.

Insider Transactions at Abbott Laboratories

In other news, EVP Lisa D. Earnhardt sold 22,852 shares of the 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 transaction, the executive vice president now owns 61,462 shares of the company’s stock, valued at $6,530,337.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Abbott Laboratories news, EVP Lisa D. Earnhardt sold 22,852 shares of Abbott Laboratories stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total value of $2,428,025.00. Following the completion of the transaction, the executive vice president now directly owns 61,462 shares in the company, valued at $6,530,337.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Jr. Robert E. Funck sold 10,097 shares of Abbott Laboratories stock in a transaction that occurred on 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 completion of the transaction, 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. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ABT shares. Raymond James reissued a “buy” rating and set a $124.00 price target on shares of Abbott Laboratories in a research note on Wednesday, April 24th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $125.00 target price on shares of Abbott Laboratories in a research report on Tuesday, June 4th. Barclays cut their target price 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. The Goldman Sachs Group assumed coverage on Abbott Laboratories in a research report on Thursday, May 30th. They issued a “buy” rating and a $121.00 target price on the stock. Finally, Citigroup lowered their price target on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $120.64.

About Abbott Laboratories

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.