Abbott Laboratories (NYSE:ABT) Shares Sold by VELA Investment Management LLC

VELA Investment Management LLC trimmed its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 8.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,769 shares of the healthcare product maker's stock after selling 2,867 shares during the period. Abbott Laboratories comprises 1.4% of VELA Investment Management LLC's holdings, making the stock its 17th largest position. VELA Investment Management LLC's holdings in Abbott Laboratories were worth $4,347,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Brighton Jones LLC grew its holdings in Abbott Laboratories by 10.1% in the fourth quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker's stock valued at $5,850,000 after purchasing an additional 4,755 shares during the period. Bank Pictet & Cie Europe AG lifted its position in shares of Abbott Laboratories by 1.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock valued at $17,274,000 after acquiring an additional 2,774 shares in the last quarter. Assetmark Inc. lifted its position in shares of Abbott Laboratories by 7.8% in the fourth quarter. Assetmark Inc. now owns 142,370 shares of the healthcare product maker's stock valued at $16,103,000 after acquiring an additional 10,350 shares in the last quarter. Proficio Capital Partners LLC lifted its position in shares of Abbott Laboratories by 99.5% in the fourth quarter. Proficio Capital Partners LLC now owns 8,896 shares of the healthcare product maker's stock valued at $1,006,000 after acquiring an additional 4,437 shares in the last quarter. Finally, Inceptionr LLC lifted its position in shares of Abbott Laboratories by 4.8% in the fourth quarter. Inceptionr LLC now owns 8,747 shares of the healthcare product maker's stock valued at $989,000 after acquiring an additional 404 shares in the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Trading Down 1.0%

NYSE:ABT traded down $1.40 on Monday, reaching $133.04. The company's stock had a trading volume of 3,467,578 shares, compared to its average volume of 6,146,432. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $141.23. The company has a quick ratio of 1.27, a current ratio of 1.78 and a debt-to-equity ratio of 0.26. The firm has a market cap of $231.47 billion, a price-to-earnings ratio of 17.26, a price-to-earnings-growth ratio of 2.55 and a beta of 0.73. The stock has a 50 day moving average price of $133.29 and a 200 day moving average price of $128.52.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, beating 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%. On average, equities analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ABT. Morgan Stanley raised 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 raised 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. Bank of America lifted their price objective on Abbott Laboratories from $133.00 to $150.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. Leerink Partnrs upgraded Abbott Laboratories to a "hold" rating in a research report on Monday, June 16th. Finally, Jefferies Financial Group lifted 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. Six research 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 company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $142.61.

Insider Activity

In related news, Director Sally E. Blount sold 2,600 shares of the business'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 owned 34,058 shares in the company, valued at approximately $4,415,960.28. The trade was a 7.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate 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.