Abbott Laboratories (NYSE:ABT) Shares Sold by PUREfi Wealth LLC

PUREfi Wealth LLC reduced its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 24.8% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 6,603 shares of the healthcare product maker's stock after selling 2,175 shares during the period. Abbott Laboratories makes up approximately 0.9% of PUREfi Wealth LLC's portfolio, making the stock its 24th biggest holding. PUREfi Wealth LLC's holdings in Abbott Laboratories were worth $876,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Redwood Park Advisors LLC acquired a new stake in Abbott Laboratories during the fourth quarter valued at $25,000. Noble Wealth Management PBC purchased a new stake in shares of Abbott Laboratories during the 4th quarter worth about $26,000. NewSquare Capital LLC grew its position in shares of Abbott Laboratories by 78.4% during the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker's stock valued at $27,000 after acquiring an additional 105 shares during the period. WealthTrak Capital Management LLC purchased a new position in shares of Abbott Laboratories in the 4th quarter valued at about $28,000. Finally, Rialto Wealth Management LLC acquired a new position in Abbott Laboratories in the 4th quarter worth about $29,000. Hedge funds and other institutional investors own 75.18% of the company's stock.

Analysts Set New Price Targets

ABT has been the subject of a number of recent analyst reports. The Goldman Sachs Group boosted their price objective on Abbott Laboratories from $138.00 to $154.00 and gave the company a "buy" rating in a research report on Tuesday, March 4th. Jefferies Financial Group boosted their price target on shares of Abbott Laboratories from $135.00 to $137.00 and gave the stock a "hold" rating in a report on Thursday, April 17th. Bank of America increased their price objective on shares of Abbott Laboratories from $133.00 to $150.00 and gave the company a "buy" rating in a report on Monday, March 10th. Royal Bank Of Canada boosted their target price on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a research note on Thursday, April 17th. Finally, Stifel Nicolaus upped their price target on shares of Abbott Laboratories from $135.00 to $145.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Six analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $142.61.

Insiders Place Their Bets

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the firm'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 sale, the director now directly owns 34,058 shares in the company, valued at $4,415,960.28. This trade represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.46% of the stock is currently owned by insiders.

Abbott Laboratories Stock Down 1.4%

NYSE ABT opened at $132.18 on Wednesday. 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 has a 52 week low of $99.71 and a 52 week high of $141.23. The business's fifty day simple moving average is $131.80 and its 200-day simple moving average is $126.62. The firm has a market cap of $229.97 billion, a PE ratio of 17.14, a P/E/G ratio of 2.53 and a beta of 0.73.

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

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be given a $0.59 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.79%. Abbott Laboratories's payout ratio is currently 30.61%.

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.

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