Abbott Laboratories (NYSE:ABT) Stock Holdings Lowered by K.J. Harrison & Partners Inc

K.J. Harrison & Partners Inc reduced its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 24.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,258 shares of the healthcare product maker's stock after selling 1,972 shares during the period. K.J. Harrison & Partners Inc's holdings in Abbott Laboratories were worth $830,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cim LLC boosted its holdings in Abbott Laboratories by 0.4% in the fourth quarter. Cim LLC now owns 16,967 shares of the healthcare product maker's stock valued at $1,919,000 after acquiring an additional 73 shares during the last quarter. Cape Investment Advisory Inc. lifted its stake in shares of Abbott Laboratories by 6.6% in the 4th quarter. Cape Investment Advisory Inc. now owns 1,236 shares of the healthcare product maker's stock valued at $140,000 after purchasing an additional 76 shares in the last quarter. Capital Square LLC grew its holdings in shares of Abbott Laboratories by 2.7% during the 4th quarter. Capital Square LLC now owns 2,941 shares of the healthcare product maker's stock worth $368,000 after purchasing an additional 77 shares during the period. Consilium Wealth Advisory LLC increased its position in Abbott Laboratories by 2.1% during the 1st quarter. Consilium Wealth Advisory LLC now owns 3,822 shares of the healthcare product maker's stock worth $507,000 after purchasing an additional 78 shares in the last quarter. Finally, Cyrus J. Lawrence LLC raised its holdings in Abbott Laboratories by 9.0% in the fourth quarter. Cyrus J. Lawrence LLC now owns 954 shares of the healthcare product maker's stock valued at $107,000 after buying an additional 79 shares during the period. Institutional investors and hedge funds own 75.18% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ABT shares. Morgan Stanley increased their price objective on shares of Abbott Laboratories from $117.00 to $127.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 17th. Royal Bank Of Canada boosted their price objective on Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a research note on Thursday, April 17th. Piper Sandler reiterated an "overweight" rating and issued a $145.00 target price (up previously from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. Citigroup increased their price objective on shares of Abbott Laboratories from $135.00 to $160.00 and gave the company a "buy" rating in a research report on Tuesday, March 4th. Finally, Jefferies Financial Group upped their target price on shares of Abbott Laboratories from $135.00 to $137.00 and gave the company a "hold" rating in a research note on Thursday, April 17th. Six equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $142.61.

Abbott Laboratories Stock Down 1.6%

Abbott Laboratories stock traded down $2.18 during midday trading on Wednesday, hitting $134.08. The stock had a trading volume of 4,316,253 shares, compared to its average volume of 6,812,250. The company has a current ratio of 1.78, a quick ratio of 1.27 and a debt-to-equity ratio of 0.26. The business has a fifty day moving average price of $133.03 and a 200 day moving average price of $127.97. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $141.23. The stock has a market cap of $233.28 billion, a P/E ratio of 17.39, a P/E/G ratio of 2.58 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $10.38 billion. Research analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

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

Insider Activity at Abbott Laboratories

In related news, Director Sally E. Blount sold 2,600 shares of the stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total transaction of $337,116.00. Following the sale, the director 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.46% of the company's stock.

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.