Abbott Laboratories (NYSE:ABT) Shares Sold by Integrated Investment Consultants LLC

Key Points

• Integrated Investment Consultants LLC reduced its stake in Abbott Laboratories by 86.4%, now owning only 17,014 shares following the sale of 108,493 shares in Q1.
• Abbott Laboratories reported a Q2 earnings of $1.26 EPS, meeting analysts' expectations, with a 7.4% increase in revenue year-over-year to $11.14 billion.
• The company declared a quarterly dividend of $0.59 per share, with a payout ratio of 29.57%, to be paid on August 15th.

Integrated Investment Consultants LLC trimmed its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 86.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,014 shares of the healthcare product maker's stock after selling 108,493 shares during the quarter. Integrated Investment Consultants LLC's holdings in Abbott Laboratories were worth $2,257,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ABT. Three Seasons Wealth LLC acquired a new position in Abbott Laboratories during the fourth quarter worth about $1,428,000. Kelly Financial Services LLC acquired a new position in Abbott Laboratories in the 1st quarter valued at about $216,000. Voleon Capital Management LP acquired a new stake in Abbott Laboratories during the fourth quarter worth approximately $273,000. Bank Pictet & Cie Europe AG increased its stake in 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 purchasing an additional 2,774 shares during the last quarter. Finally, Edge Financial Advisors LLC lifted its position in Abbott Laboratories by 3.3% during the first quarter. Edge Financial Advisors LLC now owns 2,530 shares of the healthcare product maker's stock worth $336,000 after buying an additional 81 shares during the period. 75.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ABT has been the subject of a number of research analyst reports. BTIG Research dropped their price objective on shares of Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating for the company in a research note on Friday, July 18th. Morgan Stanley increased their price target on shares of Abbott Laboratories from $127.00 to $137.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Royal Bank Of Canada upped their price objective on Abbott Laboratories from $145.00 to $147.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Wells Fargo & Company reduced their price target on shares of Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating on the stock in a research report on Friday, July 18th. 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. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Abbott Laboratories currently has an average rating of "Moderate Buy" and a consensus price target of $144.47.

Insider Buying and Selling at Abbott Laboratories

In related news, Director Sally E. Blount sold 2,600 shares of the business's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total transaction of $337,116.00. Following the completion of the sale, the director owned 34,058 shares of the company's stock, valued at $4,415,960.28. This represents a 7.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.46% of the company's stock.

Abbott Laboratories Stock Down 0.2%

Shares of ABT traded down $0.26 during midday trading on Monday, hitting $126.28. The company had a trading volume of 8,168,114 shares, compared to its average volume of 7,332,591. The stock has a market cap of $219.71 billion, a price-to-earnings ratio of 15.82, a PEG ratio of 2.40 and a beta of 0.73. The company's 50 day moving average price is $132.39 and its 200 day moving average price is $130.10. 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 $99.92 and a 52 week high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.26. The firm had revenue of $11.14 billion for the quarter, compared to analysts' expectations of $11.01 billion. Abbott Laboratories had a return on equity of 18.83% and a net margin of 32.43%. Abbott Laboratories's revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.14 earnings per share. On average, equities research analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $2.36 annualized dividend and a yield of 1.87%. Abbott Laboratories's payout ratio is 29.57%.

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.