Catalina Capital Group LLC Sells 3,742 Shares of Abbott Laboratories (NYSE:ABT)

Catalina Capital Group LLC lessened its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 64.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,069 shares of the healthcare product maker's stock after selling 3,742 shares during the quarter. Catalina Capital Group LLC's holdings in Abbott Laboratories were worth $274,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Redwood Park Advisors LLC bought a new stake in Abbott Laboratories during the 4th quarter valued at approximately $25,000. Noble Wealth Management PBC purchased a new position in shares of Abbott Laboratories in the 4th quarter valued at approximately $26,000. NewSquare Capital LLC boosted its position in shares of Abbott Laboratories by 78.4% during the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker's stock valued at $27,000 after purchasing an additional 105 shares in the last quarter. WealthTrak Capital Management LLC purchased a new stake in Abbott Laboratories in the fourth quarter worth $28,000. Finally, Rialto Wealth Management LLC bought a new position in Abbott Laboratories in the fourth quarter worth $29,000. Hedge funds and other institutional investors own 75.18% of the company's stock.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT traded up $0.07 during midday trading on Thursday, reaching $132.35. 4,950,337 shares of the company's stock traded hands, compared to its average volume of 6,109,757. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.27 and a current ratio of 1.78. Abbott Laboratories has a one year low of $99.71 and a one year high of $141.23. The company has a market cap of $230.27 billion, a price-to-earnings ratio of 17.17, a P/E/G ratio of 2.51 and a beta of 0.73. The stock has a 50 day moving average of $131.91 and a 200 day moving average of $126.66.

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

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.78%. Abbott Laboratories's dividend payout ratio (DPR) is currently 30.61%.

Wall Street Analysts Forecast Growth

ABT has been the topic of a number of research reports. Jefferies Financial Group boosted their target price on shares of Abbott Laboratories from $135.00 to $137.00 and gave the company a "hold" rating in a report on Thursday, April 17th. Wells Fargo & Company lifted their price target on shares of Abbott Laboratories from $136.00 to $147.00 and gave the company an "overweight" rating in a research report on Thursday, April 17th. Piper Sandler restated an "overweight" rating and issued a $145.00 price objective (up previously from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. Leerink Partnrs raised shares of Abbott Laboratories to a "hold" rating in a research note on Monday. Finally, Barclays lifted their target price on shares of Abbott Laboratories from $158.00 to $159.00 and gave the company an "overweight" rating in a report on Thursday, April 17th. Six equities 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. Based on data from MarketBeat.com, Abbott Laboratories has a consensus rating of "Moderate Buy" and a consensus price target of $142.61.

Insider Buying and Selling

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the firm's stock in a transaction dated 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 directly owns 34,058 shares of the company's stock, valued at approximately $4,415,960.28. This trade represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.46% of the stock is currently owned by corporate insiders.

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.