Abbott Laboratories (NYSE:ABT) Shares Sold by Arrow Financial Corp

Arrow Financial Corp cut its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 40.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 19,482 shares of the healthcare product maker's stock after selling 13,193 shares during the period. Arrow Financial Corp's holdings in Abbott Laboratories were worth $2,584,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Hughes Financial Services LLC purchased a new stake in shares of Abbott Laboratories during the 1st quarter valued at $27,000. Abound Financial LLC purchased a new stake in Abbott Laboratories during the 1st quarter worth $28,000. Redwood Park Advisors LLC purchased a new stake in Abbott Laboratories during the 4th quarter worth $25,000. JCIC Asset Management Inc. purchased a new stake in Abbott Laboratories during the 1st quarter worth $32,000. Finally, WealthTrak Capital Management LLC purchased a new stake in Abbott Laboratories during the 4th quarter worth $28,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Abbott Laboratories

In related news, Director Sally E. Blount sold 2,600 shares of the firm's stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total transaction of $337,116.00. Following the transaction, the director owned 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.46% of the company's stock.

Abbott Laboratories Stock Performance

NYSE ABT traded up $1.48 during trading hours on Tuesday, reaching $125.90. The company's stock had a trading volume of 7,097,531 shares, compared to its average volume of 6,244,671. The company has a current ratio of 1.78, a quick ratio of 1.27 and a debt-to-equity ratio of 0.26. The business has a 50-day simple moving average of $132.98 and a 200 day simple moving average of $129.68. Abbott Laboratories has a 52 week low of $99.92 and a 52 week high of $141.23. The stock has a market cap of $219.05 billion, a PE ratio of 15.78, a PEG ratio of 2.35 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.26. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.83%. The firm had revenue of $11.14 billion for the quarter, compared to analysts' expectations of $11.01 billion. During the same quarter last year, the company posted $1.14 earnings per share. Abbott Laboratories's revenue was up 7.4% on a year-over-year basis. Equities research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be paid 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 1.87%. Abbott Laboratories's payout ratio is currently 29.57%.

Wall Street Analysts Forecast Growth

ABT has been the subject of a number of research reports. Leerink Partners initiated coverage on shares of Abbott Laboratories in a research report on Monday, June 16th. They set a "market perform" rating and a $143.00 price target for the company. Stifel Nicolaus upped their price objective on shares of Abbott Laboratories from $135.00 to $145.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. Raymond James Financial decreased their price objective on shares of Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating for the company in a research report on Friday. Jefferies Financial Group raised shares of Abbott Laboratories from a "hold" rating to a "buy" rating and upped their price objective for the company from $143.00 to $145.00 in a research report on Friday. Finally, Evercore ISI upped their price objective on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Five equities research 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 stock. According to MarketBeat.com, Abbott Laboratories currently has a consensus rating of "Moderate Buy" and a consensus price target of $144.47.

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.