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

LBP AM SA decreased its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 46.4% during the first quarter, according to its most recent filing with the 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.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Abbott Laboratories by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 168,645,397 shares of the healthcare product maker's stock valued at $19,075,481,000 after buying an additional 739,260 shares during the last quarter. Capital International Investors raised its position in Abbott Laboratories by 3.4% during the 4th quarter. Capital International Investors now owns 67,972,953 shares of the healthcare product maker's stock worth $7,688,160,000 after buying an additional 2,229,026 shares during the last quarter. Capital Research Global Investors increased its stake in shares of Abbott Laboratories by 1.5% in the fourth quarter. Capital Research Global Investors now owns 54,097,005 shares of the healthcare product maker's stock worth $6,118,903,000 after acquiring an additional 795,073 shares during the period. Geode Capital Management LLC lifted its position in Abbott Laboratories by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 35,668,834 shares of the healthcare product maker's stock valued at $4,023,027,000 after purchasing an additional 765,636 shares during the period. Finally, Wellington Management Group LLP grew its position in Abbott Laboratories by 2.3% during the 4th quarter. Wellington Management Group LLP now owns 26,392,302 shares of the healthcare product maker's stock worth $2,985,233,000 after purchasing an additional 581,325 shares during the period. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Down 1.2%

Shares of Abbott Laboratories stock traded down $1.66 during trading hours on Friday, reaching $131.95. 4,661,224 shares of the company were exchanged, compared to its average volume of 6,149,109. The firm has a market cap of $229.56 billion, a PE ratio of 17.11, a PEG ratio of 2.53 and a beta of 0.73. The stock's fifty day moving average is $133.54 and its 200 day moving average is $128.86. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.27 and a current ratio of 1.78.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released 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. Abbott Laboratories had a net margin of 31.89% and a return on equity of 19.01%. The firm had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.38 billion. As a group, equities research analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current 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 dividend of $0.59 per share. The ex-dividend date is Tuesday, July 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.79%. Abbott Laboratories's dividend payout ratio is currently 30.61%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Jefferies Financial Group raised their price objective on Abbott Laboratories from $135.00 to $137.00 and gave the company a "hold" rating in a report on Thursday, April 17th. Leerink Partners began coverage on shares of Abbott Laboratories in a report on Monday, June 16th. They issued a "market perform" rating and a $143.00 price target for the company. Royal Bank Of Canada lifted their target price on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a research report on Thursday, April 17th. Raymond James Financial upped their price objective on shares of Abbott Laboratories from $132.00 to $142.00 and gave the company an "outperform" rating in a report on Thursday, April 17th. Finally, Wells Fargo & Company boosted their target price on shares of Abbott Laboratories from $136.00 to $147.00 and gave the company an "overweight" rating in a report on Thursday, April 17th. Six investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $143.11.

Insider Activity at Abbott Laboratories

In related news, Director Sally E. Blount sold 2,600 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the director directly owned 34,058 shares of the company's stock, valued at $4,415,960.28. This represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.