Abbott Laboratories (NYSE:ABT) Stock Holdings Decreased by Absher Wealth Management LLC

Absher Wealth Management LLC lowered its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 10.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 157,948 shares of the healthcare product maker's stock after selling 19,174 shares during the period. Abbott Laboratories accounts for approximately 2.7% of Absher Wealth Management LLC's holdings, making the stock its 22nd biggest holding. Absher Wealth Management LLC's holdings in Abbott Laboratories were worth $20,952,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ABT. Tallon Kerry Patrick bought a new stake in shares of Abbott Laboratories during the 4th quarter valued at about $200,000. LaFleur & Godfrey LLC grew its position in shares of Abbott Laboratories by 23.5% during the 4th quarter. LaFleur & Godfrey LLC now owns 82,443 shares of the healthcare product maker's stock valued at $9,325,000 after buying an additional 15,692 shares during the last quarter. Brighton Jones LLC grew its position in shares of Abbott Laboratories by 10.1% during the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker's stock valued at $5,850,000 after buying an additional 4,755 shares during the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of Abbott Laboratories during the 4th quarter valued at about $29,120,000. Finally, Bank Pictet & Cie Europe AG grew its position in shares of Abbott Laboratories by 1.9% during 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 buying an additional 2,774 shares during the last quarter. Institutional investors own 75.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ABT. Leerink Partnrs raised shares of Abbott Laboratories to a "hold" rating in a research report on Monday, June 16th. Leerink Partners began coverage on shares of Abbott Laboratories in a research note on Monday, June 16th. They set a "market perform" rating and a $143.00 target price for the company. Morgan Stanley boosted their target price on shares of Abbott Laboratories from $117.00 to $127.00 and gave the company an "equal weight" rating in a research note on Thursday, April 17th. Raymond James Financial boosted their target price on shares of Abbott Laboratories from $132.00 to $142.00 and gave the company an "outperform" rating in a research note 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 research note on Thursday, April 17th. Six equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Abbott Laboratories has a consensus rating of "Moderate Buy" and an average price target of $142.61.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the company'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 transaction, the director now owns 34,058 shares of the company's stock, valued at approximately $4,415,960.28. This 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 accessible through this hyperlink. 0.46% of the stock is owned by corporate insiders.

Abbott Laboratories Price Performance

Shares of NYSE:ABT opened at $132.88 on Friday. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $141.23. The stock has a market cap of $231.20 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 2.53 and a beta of 0.73. The stock's 50 day moving average price is $132.19 and its 200 day moving average price is $126.95. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.78 and a quick ratio of 1.27.

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 (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.02. The company had revenue of $10.36 billion for the quarter, compared to analysts' expectations of $10.38 billion. Abbott Laboratories had a return on equity of 19.01% and a net margin of 31.89%. Equities research analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders 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 1.78%. Abbott Laboratories's dividend payout ratio is currently 30.61%.

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.

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