Crossmark Global Holdings Inc. decreased its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 19.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 272,838 shares of the healthcare product maker's stock after selling 66,038 shares during the quarter. Abbott Laboratories accounts for approximately 0.6% of Crossmark Global Holdings Inc.'s holdings, making the stock its 23rd biggest position. Crossmark Global Holdings Inc.'s holdings in Abbott Laboratories were worth $36,192,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Cim LLC raised its holdings in shares of Abbott Laboratories by 0.4% during the 4th quarter. Cim LLC now owns 16,967 shares of the healthcare product maker's stock valued at $1,919,000 after purchasing an additional 73 shares in the last quarter. Capital Square LLC increased its position in Abbott Laboratories by 2.7% during the fourth quarter. Capital Square LLC now owns 2,941 shares of the healthcare product maker's stock worth $368,000 after buying an additional 77 shares during the last quarter. Consilium Wealth Advisory LLC increased its position in Abbott Laboratories by 2.1% during the first quarter. Consilium Wealth Advisory LLC now owns 3,822 shares of the healthcare product maker's stock worth $507,000 after buying an additional 78 shares during the last quarter. Cyrus J. Lawrence LLC increased its position in Abbott Laboratories by 9.0% during the fourth quarter. Cyrus J. Lawrence LLC now owns 954 shares of the healthcare product maker's stock worth $107,000 after buying an additional 79 shares during the last quarter. Finally, Edge Financial Advisors LLC increased its position in Abbott Laboratories by 3.3% during the first quarter. Edge Financial Advisors LLC now owns 2,530 shares of the healthcare product maker's stock worth $336,000 after buying an additional 81 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company's stock.
Wall Street Analysts Forecast Growth
ABT has been the topic of several analyst reports. Wells Fargo & Company increased 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. Leerink Partnrs raised shares of Abbott Laboratories to a "hold" rating in a research report on Monday, June 16th. Royal Bank Of Canada increased their target price on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a research report on Thursday, April 17th. Evercore ISI increased their target price on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a research report on Tuesday. Finally, Raymond James Financial upped their price target on shares of Abbott Laboratories from $132.00 to $142.00 and gave the company an "outperform" rating in a report on Thursday, April 17th. Six investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Abbott Laboratories presently has a consensus rating of "Moderate Buy" and an average price target of $143.11.
View Our Latest Stock Analysis on ABT
Abbott Laboratories Stock Performance
Shares of NYSE ABT traded up $0.05 during mid-day trading on Wednesday, hitting $133.41. The company had a trading volume of 4,613,653 shares, compared to its average volume of 6,162,028. 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 business's 50-day simple moving average is $133.49 and its 200-day simple moving average is $128.72. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $141.23. The firm has a market cap of $232.11 billion, a P/E ratio of 17.30, a PEG ratio of 2.53 and a beta of 0.73.
Abbott Laboratories (NYSE:ABT - Get Free Report) last released its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.02. The business had revenue of $10.36 billion during the quarter, compared to analysts' expectations of $10.38 billion. Abbott Laboratories had a net margin of 31.89% and a return on equity of 19.01%. As a group, analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.
Abbott Laboratories Dividend Announcement
The firm 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 dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Tuesday, July 15th. Abbott Laboratories's dividend payout ratio is 30.61%.
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 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. 0.46% of the stock is currently owned by corporate insiders.
Abbott Laboratories Profile
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Free Report)
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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