Abbott Laboratories (NYSE:ABT) Shares Sold by Lbp Am Sa

Lbp Am Sa lowered its position in Abbott Laboratories (NYSE:ABT - Free Report) by 46.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 148,471 shares of the healthcare product maker's stock after selling 128,463 shares during the period. Lbp Am Sa's holdings in Abbott Laboratories were worth $19,695,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of ABT. Abound Financial LLC purchased a new stake in Abbott Laboratories in the 1st quarter valued at about $28,000. Redwood Park Advisors LLC purchased a new stake in Abbott Laboratories in the 4th quarter valued at about $25,000. JCIC Asset Management Inc. acquired a new position in Abbott Laboratories in the 1st quarter valued at about $32,000. WealthTrak Capital Management LLC acquired a new position in Abbott Laboratories in the 4th quarter valued at about $28,000. Finally, Redmont Wealth Advisors LLC acquired a new position in Abbott Laboratories in the 1st quarter valued at about $34,000. Hedge funds and other institutional investors own 75.18% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on ABT. Morgan Stanley lifted their target price 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. Raymond James Financial lifted their target price on Abbott Laboratories from $132.00 to $142.00 and gave the company an "outperform" 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 report on Thursday, April 17th. Jefferies Financial Group boosted their price objective on Abbott Laboratories from $135.00 to $137.00 and gave the stock a "hold" rating in a research report on Thursday, April 17th. Finally, Piper Sandler reissued an "overweight" rating and issued a $145.00 price target (up from $133.00) on shares of Abbott Laboratories in a research report on Thursday, April 17th. Six investment 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 stock. Based on data from MarketBeat, Abbott Laboratories has a consensus rating of "Moderate Buy" and an average target price of $143.11.

Abbott Laboratories Stock Down 0.3%

Shares of Abbott Laboratories stock opened at $133.35 on Wednesday. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $141.23. The company has a market capitalization of $232.01 billion, a P/E ratio of 17.30, a PEG ratio of 2.54 and a beta of 0.73. The business's fifty day moving average price is $133.43 and its two-hundred day moving average price is $128.69. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.78 and a quick ratio of 1.27.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, topping analysts' consensus estimates of $1.07 by $0.02. The company 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%. As a group, research analysts forecast that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

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

Insider Activity

In related news, Director Sally E. Blount sold 2,600 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total value of $337,116.00. Following the sale, the director owned 34,058 shares of the company's stock, valued at approximately $4,415,960.28. The trade was a 7.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.46% of the stock is currently owned by corporate insiders.

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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