Copperwynd Financial LLC Sells 5,731 Shares of Abbott Laboratories (NYSE:ABT)

Copperwynd Financial LLC lowered its position in Abbott Laboratories (NYSE:ABT - Free Report) by 34.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,822 shares of the healthcare product maker's stock after selling 5,731 shares during the quarter. Copperwynd Financial LLC's holdings in Abbott Laboratories were worth $1,436,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in ABT. Redwood Park Advisors LLC acquired a new position in shares of Abbott Laboratories in the 4th quarter worth approximately $25,000. Hughes Financial Services LLC bought a new stake in Abbott Laboratories during the 1st quarter valued at $27,000. WealthTrak Capital Management LLC bought a new stake in Abbott Laboratories during the 4th quarter valued at $28,000. Abound Financial LLC bought a new stake in shares of Abbott Laboratories in the 1st quarter worth $28,000. Finally, Wormser Freres Gestion bought a new stake in shares of Abbott Laboratories in the 4th quarter worth $32,000. Institutional investors and hedge funds own 75.18% of the company's stock.

Insider Activity

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 shares were sold at an average price of $129.66, for a total transaction of $337,116.00. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.46% of the company's stock.

Abbott Laboratories Stock Performance

Shares of NYSE ABT traded up $3.30 during midday trading on Friday, hitting $123.81. 19,570,335 shares of the company's stock were exchanged, compared to its average volume of 6,224,928. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.78 and a quick ratio of 1.27. The stock's 50 day moving average price is $132.98 and its 200-day moving average price is $129.56. The firm has a market cap of $215.41 billion, a P/E ratio of 15.52, a PEG ratio of 2.35 and a beta of 0.73. Abbott Laboratories has a twelve month low of $99.92 and a twelve month high of $141.23.

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

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend is Tuesday, July 15th. Abbott Laboratories's dividend payout ratio is currently 29.57%.

Wall Street Analyst Weigh In

ABT has been the topic of several recent analyst reports. Leerink Partnrs upgraded shares of Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. Piper Sandler reaffirmed an "overweight" rating and issued a $145.00 price target (up previously from $133.00) on shares of Abbott Laboratories in a research report on Thursday, April 17th. William Blair raised Abbott Laboratories to a "strong-buy" rating in a research report on Thursday. BTIG Research decreased their target price on Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating for the company in a research report on Friday. Finally, Mizuho boosted their target price on Abbott Laboratories from $130.00 to $140.00 and gave the stock a "neutral" rating in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Abbott Laboratories presently has an average rating of "Moderate Buy" and a consensus target price 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.