Abbott Laboratories (NYSE:ABT) Shares Sold by Lake Street Private Wealth LLC

Lake Street Private Wealth LLC decreased its position in Abbott Laboratories (NYSE:ABT) by 2.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,210 shares of the healthcare product maker’s stock after selling 150 shares during the quarter. Lake Street Private Wealth LLC’s holdings in Abbott Laboratories were worth $820,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Abbott Laboratories during the 4th quarter valued at about $2,115,836,000. Capital Research Global Investors increased its stake in Abbott Laboratories by 9.5% during the 4th quarter. Capital Research Global Investors now owns 86,588,614 shares of the healthcare product maker’s stock worth $9,530,825,000 after buying an additional 7,527,778 shares during the period. Boston Partners lifted its holdings in Abbott Laboratories by 12,577.8% during the 4th quarter. Boston Partners now owns 3,772,670 shares of the healthcare product maker’s stock worth $415,948,000 after buying an additional 3,742,912 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Abbott Laboratories by 41.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 5,009,838 shares of the healthcare product maker’s stock worth $551,434,000 after acquiring an additional 1,477,671 shares during the period. Finally, Capital International Investors raised its stake in shares of Abbott Laboratories by 2.3% in the fourth quarter. Capital International Investors now owns 64,294,784 shares of the healthcare product maker’s stock valued at $7,077,148,000 after acquiring an additional 1,457,847 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ABT shares. Royal Bank of Canada restated an “outperform” rating and set a $125.00 price target on shares of Abbott Laboratories in a report on Tuesday, June 4th. Barclays reduced their target price on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a report on Monday, April 22nd. Citigroup lowered their price target on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Raymond James restated a “buy” rating and issued a $124.00 price objective on shares of Abbott Laboratories in a report on Wednesday, April 24th. Finally, The Goldman Sachs Group assumed coverage on Abbott Laboratories in a research note on Thursday, May 30th. They issued a “buy” rating and a $121.00 price target on the stock. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $120.18.

Insiders Place Their Bets

In related 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 sale, 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 document filed with the SEC, which can be accessed through this link. 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 value of $2,428,025.00. Following the completion of 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 legal filing with the Securities & Exchange Commission, 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 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 directly owns 211,341 shares of the company’s stock, valued at $22,099,928.37. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by insiders.

Abbott Laboratories Stock Down 0.9 %

Shares of NYSE ABT opened at $102.30 on Thursday. The stock has a market cap of $177.96 billion, a PE ratio of 31.87, a price-to-earnings-growth ratio of 2.48 and a beta of 0.72. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64. The business has a 50-day moving average price of $104.63 and a 200 day moving average price of $110.05. 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 (NYSE:ABT) last posted its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. The company had revenue of $9.96 billion for the quarter, compared to analyst estimates of $9.88 billion. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. Abbott Laboratories’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.03 earnings per share. Equities research analysts forecast that Abbott Laboratories will post 4.62 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Monday, July 15th. Abbott Laboratories’s dividend payout ratio is presently 68.54%.

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.