Abbott Laboratories (NYSE:ABT) Shares Sold by Somerville Kurt F

Somerville Kurt F reduced its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 2.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 162,849 shares of the healthcare product maker's stock after selling 4,108 shares during the quarter. Abbott Laboratories makes up 3.8% of Somerville Kurt F's holdings, making the stock its 8th largest position. Somerville Kurt F's holdings in Abbott Laboratories were worth $21,602,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the stock. Brighton Jones LLC increased its position in Abbott Laboratories by 10.1% during the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker's stock valued at $5,850,000 after buying an additional 4,755 shares in the last quarter. Bank Pictet & Cie Europe AG increased its position in Abbott Laboratories by 1.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock valued at $17,274,000 after buying an additional 2,774 shares in the last quarter. American Century Companies Inc. increased its position in Abbott Laboratories by 6.2% during the 4th quarter. American Century Companies Inc. now owns 652,656 shares of the healthcare product maker's stock valued at $73,822,000 after buying an additional 38,231 shares in the last quarter. Samalin Investment Counsel LLC increased its position in Abbott Laboratories by 2.8% during the 4th quarter. Samalin Investment Counsel LLC now owns 3,875 shares of the healthcare product maker's stock valued at $438,000 after buying an additional 106 shares in the last quarter. Finally, LPL Financial LLC increased its position in Abbott Laboratories by 11.4% during the 4th quarter. LPL Financial LLC now owns 1,614,600 shares of the healthcare product maker's stock valued at $182,627,000 after buying an additional 164,989 shares in the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Price Performance

Shares of NYSE:ABT traded up $0.89 during midday trading on Friday, hitting $126.53. The company had a trading volume of 4,741,228 shares, compared to its average volume of 6,971,307. Abbott Laboratories has a twelve month low of $99.92 and a twelve month high of $141.23. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.78 and a quick ratio of 1.27. The stock has a market cap of $220.15 billion, a price-to-earnings ratio of 15.86, a price-to-earnings-growth ratio of 2.39 and a beta of 0.73. The business's 50-day simple moving average is $132.55 and its 200-day simple moving average is $129.78.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, meeting the consensus estimate of $1.26. The firm had revenue of $11.14 billion during the quarter, compared to analysts' expectations of $11.01 billion. Abbott Laboratories had a return on equity of 18.83% and a net margin of 32.43%. The business's revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.14 earnings per share. On average, research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $2.36 annualized dividend and a yield of 1.87%. Abbott Laboratories's dividend payout ratio (DPR) is 29.57%.

Analyst Upgrades and Downgrades

ABT has been the topic of several recent analyst reports. Piper Sandler reaffirmed an "overweight" rating and set a $145.00 target price (up from $133.00) on shares of Abbott Laboratories in a research report on Thursday, April 17th. Leerink Partnrs raised Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. Barclays increased their price objective on Abbott Laboratories from $158.00 to $159.00 and gave the company an "overweight" rating in a report on Thursday, April 17th. Stifel Nicolaus increased their price objective on Abbott Laboratories from $135.00 to $145.00 and gave the company a "buy" rating in a report on Thursday, April 17th. Finally, Wells Fargo & Company cut their price objective on Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating on the stock in a report on Friday, July 18th. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $144.47.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the firm's stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total transaction of $337,116.00. Following the completion of the sale, the director owned 34,058 shares of the company's stock, valued at $4,415,960.28. This trade represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.46% of the stock is currently owned by company insiders.

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.