Lbp Am Sa Sells 128,463 Shares of Abbott Laboratories (NYSE:ABT)

LBP AM SA lessened its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 46.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ABT. Three Seasons Wealth LLC bought a new position in shares of Abbott Laboratories in the 4th quarter valued at $1,428,000. Kelly Financial Services LLC bought a new position in shares of Abbott Laboratories in the 1st quarter valued at $216,000. Voleon Capital Management LP bought a new position in shares of Abbott Laboratories in the 4th quarter valued at $273,000. Bank Pictet & Cie Europe AG increased its stake in shares of Abbott Laboratories by 1.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock valued at $17,274,000 after purchasing an additional 2,774 shares during the last quarter. Finally, Edge Financial Advisors LLC increased its stake in shares of Abbott Laboratories by 3.3% in the 1st quarter. Edge Financial Advisors LLC now owns 2,530 shares of the healthcare product maker's stock valued at $336,000 after purchasing an additional 81 shares during the last quarter. Institutional investors own 75.18% of the company's stock.

Insider Buying and Selling at Abbott Laboratories

In other news, Director Sally E. Blount sold 2,600 shares of Abbott Laboratories stock in a transaction dated 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 directly owned 34,058 shares of the company's stock, valued at approximately $4,415,960.28. This trade represents a 7.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.46% of the company's stock.

Abbott Laboratories Trading Up 0.3%

ABT traded up $0.42 during midday trading on Thursday, hitting $133.64. 4,852,335 shares of the company were exchanged, compared to its average volume of 6,155,060. The firm has a market capitalization of $232.51 billion, a P/E ratio of 17.33, a P/E/G ratio of 2.53 and a beta of 0.73. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $141.23. The firm's 50 day moving average price is $133.54 and its 200-day moving average price is $128.86. The company has a quick ratio of 1.27, a current ratio of 1.78 and a debt-to-equity ratio of 0.26.

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

Abbott Laboratories Dividend Announcement

The firm also recently disclosed 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. This represents a $2.36 annualized dividend and a dividend yield of 1.77%. The ex-dividend date is Tuesday, July 15th. Abbott Laboratories's dividend payout ratio (DPR) is presently 30.61%.

Analyst Upgrades and Downgrades

ABT has been the topic of several recent analyst reports. Leerink Partnrs upgraded Abbott Laboratories to a "hold" rating in a research note on Monday, June 16th. Jefferies Financial Group lifted their price target on Abbott Laboratories from $135.00 to $137.00 and gave the company a "hold" rating in a research note on Thursday, April 17th. Raymond James Financial lifted 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. Evercore ISI raised their price objective on Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a report on Tuesday. Finally, Wells Fargo & Company raised their price objective on Abbott Laboratories from $136.00 to $147.00 and gave the company an "overweight" rating in a report on Thursday, April 17th. Six 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 stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $143.11.

Abbott Laboratories Company 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.