Crossmark Global Holdings Inc. Lowers Stake in Abbott Laboratories (NYSE:ABT)

Crossmark Global Holdings Inc. cut its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 19.5% in the first quarter, according to the company in its most recent disclosure with the SEC. 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 about 0.6% of Crossmark Global Holdings Inc.'s portfolio, making the stock its 23rd biggest holding. Crossmark Global Holdings Inc.'s holdings in Abbott Laboratories were worth $36,192,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC lifted its stake in Abbott Laboratories by 10.1% in the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker's stock valued at $5,850,000 after purchasing an additional 4,755 shares during the last quarter. Bank Pictet & Cie Europe AG raised its stake in Abbott Laboratories by 1.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock valued at $17,274,000 after acquiring an additional 2,774 shares during the period. Proficio Capital Partners LLC lifted its holdings in Abbott Laboratories by 99.5% during the 4th quarter. Proficio Capital Partners LLC now owns 8,896 shares of the healthcare product maker's stock valued at $1,006,000 after purchasing an additional 4,437 shares during the last quarter. Andra AP fonden increased its holdings in shares of Abbott Laboratories by 19.8% in the fourth quarter. Andra AP fonden now owns 83,408 shares of the healthcare product maker's stock valued at $9,434,000 after purchasing an additional 13,800 shares during the last quarter. Finally, Banco Santander S.A. raised its position in shares of Abbott Laboratories by 155.1% in the fourth quarter. Banco Santander S.A. now owns 27,786 shares of the healthcare product maker's stock valued at $3,143,000 after purchasing an additional 16,893 shares during the period. Institutional investors own 75.18% of the company's stock.

Insider Activity at Abbott Laboratories

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 directly owned 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 owned by insiders.

Abbott Laboratories Stock Up 0.3%

NYSE:ABT traded up $0.42 during trading hours on Thursday, reaching $133.64. 4,852,276 shares of the company traded hands, compared to its average volume of 6,156,809. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23. The business's 50-day moving average price is $133.49 and its two-hundred day moving average price is $128.72. The stock has a market capitalization of $232.51 billion, a P/E ratio of 17.33, a P/E/G ratio of 2.53 and a beta of 0.73. The company has a current ratio of 1.78, a quick ratio of 1.27 and a debt-to-equity ratio of 0.26.

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

Abbott Laboratories Announces Dividend

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 1.77%. Abbott Laboratories's dividend payout ratio (DPR) is currently 30.61%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Leerink Partners started coverage on Abbott Laboratories in a research note on Monday, June 16th. They issued a "market perform" rating and a $143.00 price target for the company. Wells Fargo & Company lifted 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 upgraded Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. Barclays raised their price target on shares of Abbott Laboratories from $158.00 to $159.00 and gave the company an "overweight" rating in a research report on Thursday, April 17th. Finally, Jefferies Financial Group boosted their price objective on Abbott Laboratories from $135.00 to $137.00 and gave the stock a "hold" rating in a research report on Thursday, April 17th. Six investment 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 stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $143.11.

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.