Clarus Group Inc. Sells 2,248 Shares of Abbott Laboratories (NYSE:ABT)

Clarus Group Inc. lessened its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 54.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,859 shares of the healthcare product maker's stock after selling 2,248 shares during the quarter. Clarus Group Inc.'s holdings in Abbott Laboratories were worth $247,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Three Seasons Wealth LLC bought a new position in Abbott Laboratories in the 4th quarter valued at about $1,428,000. Kelly Financial Services LLC bought a new position in shares of Abbott Laboratories during the 1st quarter worth approximately $216,000. Voleon Capital Management LP purchased a new stake in shares of Abbott Laboratories during the 4th quarter worth approximately $273,000. Bank Julius Baer & Co. Ltd Zurich increased its stake in shares of Abbott Laboratories by 5.5% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,095,443 shares of the healthcare product maker's stock worth $133,691,000 after purchasing an additional 57,499 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG increased its stake 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 worth $17,274,000 after purchasing an additional 2,774 shares during the last quarter. Institutional investors own 75.18% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ABT. The Goldman Sachs Group boosted their target price on shares of Abbott Laboratories from $138.00 to $154.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Morgan Stanley upped their target price on shares of Abbott Laboratories from $117.00 to $127.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 17th. Wells Fargo & Company upped their target price on shares of Abbott Laboratories from $136.00 to $147.00 and gave the stock an "overweight" rating in a research report on Thursday, April 17th. Citigroup boosted their price target on shares of Abbott Laboratories from $135.00 to $160.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. Finally, Raymond James Financial boosted their price target on shares of Abbott Laboratories from $132.00 to $142.00 and gave the stock an "outperform" rating in a research note on Thursday, April 17th. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $142.61.

Insiders Place Their Bets

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the stock in a transaction that occurred on Wednesday, April 30th. The shares were 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 in the company, valued at approximately $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 accessible through this hyperlink. Insiders own 0.46% of the company's stock.

Abbott Laboratories Price Performance

Shares of ABT opened at $134.40 on Friday. The stock has a market cap of $233.83 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 2.54 and a beta of 0.73. 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 fifty-two week low of $99.71 and a fifty-two week high of $141.23. The firm's 50-day simple moving average is $132.82 and its two-hundred day simple moving average is $127.56.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 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 analysts' expectations of $10.38 billion. Analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently announced 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. This represents a $2.36 annualized dividend and a yield of 1.76%. The ex-dividend date is Tuesday, July 15th. 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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