Abbott Laboratories (NYSE:ABT) Shares Sold by Bartlett & CO. Wealth Management LLC

Bartlett & CO. Wealth Management LLC cut its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 1.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,052,107 shares of the healthcare product maker's stock after selling 15,519 shares during the quarter. Abbott Laboratories comprises 2.1% of Bartlett & CO. Wealth Management LLC's portfolio, making the stock its 10th biggest holding. Bartlett & CO. Wealth Management LLC owned 0.06% of Abbott Laboratories worth $139,562,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Redwood Park Advisors LLC acquired a new stake in Abbott Laboratories during the 4th quarter worth approximately $25,000. Noble Wealth Management PBC bought a new position in Abbott Laboratories during the 4th quarter worth $26,000. NewSquare Capital LLC lifted its holdings in shares of Abbott Laboratories by 78.4% during the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker's stock worth $27,000 after buying an additional 105 shares in the last quarter. WealthTrak Capital Management LLC bought a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $28,000. Finally, Rialto Wealth Management LLC acquired a new position in shares of Abbott Laboratories in the fourth quarter valued at about $29,000. Institutional investors own 75.18% of the company's stock.

Insiders Place Their Bets

In other news, Director Sally E. Blount sold 2,600 shares of the company's stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total value of $337,116.00. Following the completion of the transaction, the director now directly owns 34,058 shares of the company's stock, valued at $4,415,960.28. This represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.46% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ABT. The Goldman Sachs Group boosted their price objective on shares of Abbott Laboratories from $138.00 to $154.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Raymond James Financial boosted their price target on Abbott Laboratories from $132.00 to $142.00 and gave the company an "outperform" rating in a research note on Thursday, April 17th. Stifel Nicolaus raised their price objective on Abbott Laboratories from $135.00 to $145.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Jefferies Financial Group increased their target price on Abbott Laboratories from $135.00 to $137.00 and gave the stock a "hold" rating in a report on Thursday, April 17th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $145.00 price target (up previously from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. Six research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $142.61.

Abbott Laboratories Stock Performance

ABT opened at $133.73 on Friday. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $141.23. The company has a market cap of $232.67 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 2.61 and a beta of 0.73. The company's fifty day moving average price is $132.75 and its two-hundred day moving average price is $127.43. The company has a current ratio of 1.78, a quick ratio of 1.27 and a debt-to-equity ratio of 0.26.

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

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend is Tuesday, July 15th. Abbott Laboratories's payout ratio is currently 30.61%.

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.

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