Abbott Laboratories (NYSE:ABT) Shares Sold by Keeler Thomas Management LLC

Key Points

• Keeler Thomas Management LLC significantly reduced its stake in Abbott Laboratories, selling 15,141 shares and lowering its ownership by 52.6%. The remaining shares were valued at approximately $1,811,000.
• Abbott Laboratories reported a quarterly EPS of $1.26, meeting analysts' expectations, with revenues of $11.14 billion.
• The company announced a quarterly dividend of $0.59 per share, resulting in an annualized yield of 1.8%, with a payout ratio of 29.57%.

Keeler Thomas Management LLC trimmed its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 52.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,649 shares of the healthcare product maker's stock after selling 15,141 shares during the period. Keeler Thomas Management LLC's holdings in Abbott Laboratories were worth $1,811,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of ABT. Three Seasons Wealth LLC acquired a new stake in Abbott Laboratories during the fourth quarter worth $1,428,000. Kelly Financial Services LLC purchased a new stake in Abbott Laboratories in the 1st quarter valued at about $216,000. Voleon Capital Management LP acquired a new position in Abbott Laboratories in the fourth quarter valued at about $273,000. Bank Pictet & Cie Europe AG increased its position in shares of Abbott Laboratories by 1.9% during the fourth 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 last quarter. Finally, Edge Financial Advisors LLC raised its stake in shares of Abbott Laboratories by 3.3% in the 1st quarter. Edge Financial Advisors LLC now owns 2,530 shares of the healthcare product maker's stock valued at $336,000 after acquiring an additional 81 shares during the period. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Up 1.8%

Shares of Abbott Laboratories stock traded up $2.35 during trading on Friday, hitting $134.41. 4,985,430 shares of the stock were exchanged, compared to its average volume of 7,868,751. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. The firm's 50-day moving average price is $131.69 and its 200 day moving average price is $130.98. The stock has a market cap of $233.93 billion, a price-to-earnings ratio of 16.84, a price-to-earnings-growth ratio of 2.50 and a beta of 0.70. Abbott Laboratories has a 12-month low of $107.11 and a 12-month high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.26. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%. The business had revenue of $11.14 billion during the quarter, compared to analysts' expectations of $11.01 billion. During the same period in the prior year, the firm posted $1.14 EPS. The business's quarterly revenue was up 7.4% compared to the same quarter last year. As a group, analysts forecast 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 given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Tuesday, July 15th. Abbott Laboratories's dividend payout ratio (DPR) is 29.57%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ABT shares. Royal Bank Of Canada lifted their target price on shares of Abbott Laboratories from $145.00 to $147.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. William Blair raised Abbott Laboratories to a "strong-buy" rating in a research note on Thursday, July 17th. Jefferies Financial Group upgraded Abbott Laboratories from a "hold" rating to a "buy" rating and boosted their price objective for the company from $143.00 to $145.00 in a report on Friday, July 18th. Raymond James Financial lowered their target price on Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating for the company in a report on Friday, July 18th. Finally, Morgan Stanley boosted their price target on shares of Abbott Laboratories from $127.00 to $137.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Four 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 stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target 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.