Compass Ion Advisors LLC Has $601,000 Position in Abbott Laboratories (NYSE:ABT)

Compass Ion Advisors LLC cut its holdings in shares of Abbott Laboratories (NYSE:ABT) by 3.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,289 shares of the healthcare product maker’s stock after selling 181 shares during the period. Compass Ion Advisors LLC’s holdings in Abbott Laboratories were worth $601,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Dark Forest Capital Management LP bought a new position in shares of Abbott Laboratories during the third quarter worth about $310,000. Schonfeld Strategic Advisors LLC lifted its position in shares of Abbott Laboratories by 1,121.5% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 48,663 shares of the healthcare product maker’s stock worth $4,713,000 after purchasing an additional 44,679 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Abbott Laboratories by 2.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 181,959 shares of the healthcare product maker’s stock valued at $17,623,000 after purchasing an additional 4,200 shares during the last quarter. SRS Capital Advisors Inc. raised its stake in Abbott Laboratories by 41.3% during the third quarter. SRS Capital Advisors Inc. now owns 4,348 shares of the healthcare product maker’s stock worth $421,000 after buying an additional 1,271 shares during the last quarter. Finally, Axxcess Wealth Management LLC lifted its holdings in Abbott Laboratories by 29.2% in the third quarter. Axxcess Wealth Management LLC now owns 97,710 shares of the healthcare product maker’s stock valued at $9,463,000 after buying an additional 22,077 shares during the period. 75.18% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Lisa D. Earnhardt sold 22,852 shares of Abbott Laboratories stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the sale, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Abbott Laboratories news, 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 value of $2,428,025.00. Following the transaction, the executive vice president now directly owns 61,462 shares in the company, valued at $6,530,337.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jr. Robert E. Funck sold 10,097 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was 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 approximately $22,099,928.37. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ABT shares. Barclays lowered their price objective on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a research report on Monday, April 22nd. Evercore ISI increased their price target on Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Royal Bank of Canada reiterated an “outperform” rating and issued a $125.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, June 4th. The Goldman Sachs Group started coverage on shares of Abbott Laboratories in a research note on Thursday, May 30th. They set a “buy” rating and a $121.00 target price on the stock. Finally, Citigroup dropped their price objective on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $120.64.

Abbott Laboratories Stock Down 0.7 %

ABT stock opened at $103.20 on Tuesday. The firm has a market capitalization of $179.53 billion, a PE ratio of 32.15, a P/E/G ratio of 2.50 and a beta of 0.72. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64. The stock’s 50 day moving average is $104.79 and its 200-day moving average is $110.12.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. The firm had revenue of $9.96 billion for the quarter, compared to the consensus estimate of $9.88 billion. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.03 EPS. Sell-side analysts expect that Abbott Laboratories will post 4.62 EPS for the current fiscal 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 paid a $0.55 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.13%. Abbott Laboratories’s payout ratio is presently 68.54%.

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.