Abbott Laboratories (NYSE:ABT) Shares Sold by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC reduced its stake in Abbott Laboratories (NYSE:ABT) by 8.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,986 shares of the healthcare product maker’s stock after selling 1,248 shares during the period. SeaCrest Wealth Management LLC’s holdings in Abbott Laboratories were worth $1,590,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ABT. Signature Resources Capital Management LLC purchased a new position in Abbott Laboratories in the 4th quarter valued at about $29,000. Transcendent Capital Group LLC purchased a new position in Abbott Laboratories in the 4th quarter valued at about $29,000. Richardson Financial Services Inc. purchased a new position in Abbott Laboratories in the 4th quarter valued at about $29,000. True Wealth Design LLC boosted its position in Abbott Laboratories by 1,677.8% in the 4th quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock valued at $35,000 after buying an additional 302 shares during the last quarter. Finally, Rise Advisors LLC purchased a new position in Abbott Laboratories in the 4th quarter valued at about $37,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ABT has been the subject of a number of analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $125.00 price objective on shares of Abbott Laboratories in a research report on Tuesday, June 4th. The Goldman Sachs Group initiated coverage on shares of Abbott Laboratories in a research report on Thursday, May 30th. They set a “buy” rating and a $121.00 price target on the stock. Raymond James reaffirmed a “buy” rating and set a $124.00 price target on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Citigroup reduced their price target on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. Finally, Evercore ISI cut their target price on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Tuesday. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.18.

Abbott Laboratories Stock Performance

Abbott Laboratories stock opened at $103.20 on Wednesday. The firm’s 50 day moving average price is $104.71 and its two-hundred day moving average price is $110.08. Abbott Laboratories has a 1 year low of $89.67 and a 1 year 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 firm has a market cap of $179.53 billion, a price-to-earnings ratio of 32.15, a price-to-earnings-growth ratio of 2.50 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. The firm had revenue of $9.96 billion during the quarter, compared to analyst estimates of $9.88 billion. During the same quarter last year, the business posted $1.03 EPS. The company’s revenue was up 2.2% on a year-over-year basis. On average, research analysts predict that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date is Monday, July 15th. Abbott Laboratories’s dividend payout ratio is 68.54%.

Insider Buying and Selling

In other Abbott Laboratories news, EVP Jr. Robert E. Funck sold 10,097 shares of Abbott Laboratories stock in a transaction on 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 completion of the sale, the executive vice president now owns 211,341 shares of the company’s stock, valued at approximately $22,099,928.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Abbott Laboratories news, EVP Jr. Robert E. Funck sold 10,097 shares of Abbott Laboratories stock in a transaction on 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 completion of the sale, the executive vice president now owns 211,341 shares of the company’s stock, valued at approximately $22,099,928.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Lisa D. Earnhardt sold 22,852 shares of Abbott Laboratories stock in a transaction on 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 sale, the executive vice president now directly owns 61,462 shares of the company’s stock, valued at approximately $6,530,337.50. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.

Abbott Laboratories 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.