Abbott Laboratories (NYSE:ABT) Shares Sold by Boston Family Office LLC

Key Points

• Boston Family Office LLC reduced its stake in Abbott Laboratories by 2.2%, selling 1,945 shares, which leaves them with 85,114 shares valued at $11.29 million.
• Abbott Laboratories reported $1.26 EPS for the last quarter, meeting analysts' expectations, and showed a 7.4% revenue increase year-over-year.
• The company declared a quarterly dividend of $0.59 per share, representing a 1.8% yield, with a payout ratio of 29.57%.

Boston Family Office LLC decreased its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 2.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 85,114 shares of the healthcare product maker's stock after selling 1,945 shares during the quarter. Boston Family Office LLC's holdings in Abbott Laboratories were worth $11,290,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hughes Financial Services LLC acquired a new stake in shares of Abbott Laboratories during the first quarter worth about $27,000. Abound Financial LLC acquired a new stake in shares of Abbott Laboratories during the first quarter worth about $28,000. JCIC Asset Management Inc. acquired a new stake in shares of Abbott Laboratories during the first quarter worth about $32,000. Vision Financial Markets LLC acquired a new stake in shares of Abbott Laboratories during the first quarter worth about $33,000. Finally, Redmont Wealth Advisors LLC acquired a new position in Abbott Laboratories in the first quarter valued at approximately $34,000. Institutional investors and hedge funds own 75.18% of the company's stock.

Abbott Laboratories Stock Up 1.8%

Abbott Laboratories stock opened at $131.66 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. Abbott Laboratories has a 12 month low of $110.33 and a 12 month high of $141.23. The stock has a market capitalization of $229.15 billion, a PE ratio of 16.50, a price-to-earnings-growth ratio of 2.45 and a beta of 0.70. The business has a 50 day simple moving average of $131.40 and a 200-day simple moving average of $131.18.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, hitting the consensus estimate of $1.26. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%. The firm had revenue of $11.14 billion during the quarter, compared to analysts' expectations of $11.01 billion. During the same period in the previous year, the business earned $1.14 earnings per share. The firm's revenue for the quarter was up 7.4% on a year-over-year basis. On average, analysts anticipate 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 was paid on Friday, August 15th. Investors of record on Tuesday, July 15th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Tuesday, July 15th. Abbott Laboratories's payout ratio is presently 29.57%.

Insider Activity at Abbott Laboratories

In related news, CFO Philip P. Boudreau sold 5,550 shares of the business's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $134.55, for a total transaction of $746,752.50. Following the completion of the sale, the chief financial officer directly owned 51,003 shares in the company, valued at approximately $6,862,453.65. The trade was a 9.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ABT shares. BTIG Research decreased their price target on Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating for the company in a report on Friday, July 18th. William Blair raised Abbott Laboratories to a "strong-buy" rating in a report on Thursday, July 17th. Mizuho boosted their price target on Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Leerink Partners started coverage on Abbott Laboratories in a report on Monday, June 16th. They issued a "market perform" rating and a $143.00 price target for the company. Finally, Leerink Partnrs raised Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $144.47.

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.

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