Chevy Chase Trust Holdings LLC Sells 3,584 Shares of Abbott Laboratories (NYSE:ABT)

Chevy Chase Trust Holdings LLC reduced its position in Abbott Laboratories (NYSE:ABT - Free Report) by 0.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 940,739 shares of the healthcare product maker's stock after selling 3,584 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of Abbott Laboratories worth $124,789,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

ABT has been the subject of a number of research reports. Jefferies Financial Group increased their price objective on Abbott Laboratories from $135.00 to $137.00 and gave the stock a "hold" rating in a report on Thursday, April 17th. Citigroup raised their price target on Abbott Laboratories from $135.00 to $160.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Morgan Stanley increased their price objective on Abbott Laboratories from $117.00 to $127.00 and gave the company an "equal weight" rating in a research report on Thursday, April 17th. Bank of America increased their price objective on Abbott Laboratories from $133.00 to $150.00 and gave the company a "buy" rating in a research report on Monday, March 10th. Finally, Raymond James Financial lifted their price target on shares of Abbott Laboratories from $132.00 to $142.00 and gave the stock an "outperform" rating in a research note on Thursday, April 17th. Six equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $142.61.

Abbott Laboratories Price Performance

ABT traded up $0.73 on Friday, hitting $134.40. 9,513,093 shares of the company's stock traded hands, compared to its average volume of 6,158,384. The company's 50 day simple moving average is $132.82 and its 200-day simple moving average is $127.56. The firm has a market cap of $233.83 billion, a price-to-earnings ratio of 17.43, a P/E/G ratio of 2.54 and a beta of 0.73. Abbott Laboratories has a one year low of $99.71 and a one year high of $141.23. 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 released its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.07 by $0.02. Abbott Laboratories had a return on equity of 19.01% and a net margin of 31.89%. The business had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.38 billion. As a group, research analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

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

Insider Buying and Selling at Abbott Laboratories

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 value of $337,116.00. Following the transaction, the director now owns 34,058 shares of the company's stock, valued at $4,415,960.28. This represents a 7.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.46% of the company's stock.

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.