Abbott Laboratories (NYSE:ABT) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 1.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,388,375 shares of the healthcare product maker's stock after selling 204,121 shares during the period. Bank of New York Mellon Corp owned 0.77% of Abbott Laboratories worth $1,775,968,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of ABT. Jackson Thornton Wealth Management LLC acquired a new position in shares of Abbott Laboratories during the first quarter valued at approximately $208,000. Olde Wealth Management LLC purchased a new stake in shares of Abbott Laboratories during the first quarter worth approximately $107,000. Capital Investment Advisory Services LLC raised its stake in Abbott Laboratories by 113.6% in the 1st quarter. Capital Investment Advisory Services LLC now owns 31,646 shares of the healthcare product maker's stock valued at $4,198,000 after purchasing an additional 16,827 shares during the last quarter. Strategic Blueprint LLC lifted its holdings in Abbott Laboratories by 16.0% in the 1st quarter. Strategic Blueprint LLC now owns 3,561 shares of the healthcare product maker's stock valued at $472,000 after purchasing an additional 490 shares in the last quarter. Finally, Huntleigh Advisors Inc. boosted its stake in Abbott Laboratories by 2.2% during the 1st quarter. Huntleigh Advisors Inc. now owns 16,810 shares of the healthcare product maker's stock worth $2,230,000 after purchasing an additional 360 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company's stock.

Insider Buying and Selling

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the company'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 transaction, the director directly owned 34,058 shares in the company, valued at $4,415,960.28. This represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is owned by company insiders.

Abbott Laboratories Trading Down 0.6%

NYSE:ABT traded down $0.82 on Monday, reaching $133.62. The company's stock had a trading volume of 8,927,419 shares, compared to its average volume of 6,167,685. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $141.23. The company has a quick ratio of 1.27, a current ratio of 1.78 and a debt-to-equity ratio of 0.26. The firm has a market cap of $232.48 billion, a price-to-earnings ratio of 17.33, a price-to-earnings-growth ratio of 2.55 and a beta of 0.73. The stock has a 50 day moving average price of $133.38 and a 200 day moving average price of $128.66.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.02. The firm had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.38 billion. Abbott Laboratories had a net margin of 31.89% and a return on equity of 19.01%. On average, equities analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.77%. Abbott Laboratories's dividend payout ratio is currently 30.61%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Morgan Stanley increased their target price on shares of Abbott Laboratories from $117.00 to $127.00 and gave the company an "equal weight" rating in a research report on Thursday, April 17th. Royal Bank Of Canada upped their price objective on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a research note on Thursday, April 17th. Piper Sandler reissued an "overweight" rating and issued a $145.00 target price (up from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. Raymond James Financial upped their price target on Abbott Laboratories from $132.00 to $142.00 and gave the company an "outperform" rating in a research report on Thursday, April 17th. Finally, Leerink Partnrs raised Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. Six analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Abbott Laboratories has an average rating of "Moderate Buy" and an average price target of $142.61.

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.