Leo Wealth LLC Sells 2,348 Shares of Abbott Laboratories (NYSE:ABT)

Leo Wealth LLC lessened its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 13.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,641 shares of the healthcare product maker's stock after selling 2,348 shares during the period. Leo Wealth LLC's holdings in Abbott Laboratories were worth $2,075,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Norges Bank bought a new position in Abbott Laboratories during the fourth quarter worth $2,373,461,000. T. Rowe Price Investment Management Inc. raised its stake in Abbott Laboratories by 383.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,358,698 shares of the healthcare product maker's stock worth $945,453,000 after buying an additional 6,628,310 shares during the last quarter. GAMMA Investing LLC raised its stake in Abbott Laboratories by 15,420.4% during the first quarter. GAMMA Investing LLC now owns 5,102,648 shares of the healthcare product maker's stock worth $676,866,000 after buying an additional 5,069,771 shares during the last quarter. Capital International Investors raised its stake in Abbott Laboratories by 3.4% during the fourth quarter. Capital International Investors now owns 67,972,953 shares of the healthcare product maker's stock worth $7,688,160,000 after buying an additional 2,229,026 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Abbott Laboratories by 10.3% in the fourth quarter. Northern Trust Corp now owns 22,056,860 shares of the healthcare product maker's stock valued at $2,494,851,000 after purchasing an additional 2,060,650 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company's stock.

Analyst Upgrades and Downgrades

ABT has been the subject of several research analyst reports. Wells Fargo & Company lifted their price target on shares of Abbott Laboratories from $136.00 to $147.00 and gave the company an "overweight" rating in a research note on Thursday, April 17th. Jefferies Financial Group lifted their price target on shares of Abbott Laboratories from $135.00 to $137.00 and gave the company a "hold" rating in a research note on Thursday, April 17th. Piper Sandler reaffirmed an "overweight" rating and issued a $145.00 price target (up from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. Leerink Partners started coverage on shares of Abbott Laboratories in a report on Monday, June 16th. They set a "market perform" rating and a $143.00 price objective for the company. Finally, Mizuho lifted their price objective on shares of Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a report on Wednesday. Six research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $144.33.

Insiders Place Their Bets

In other news, Director Sally E. Blount sold 2,600 shares of the stock in a transaction 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 owned 34,058 shares of the company's stock, valued at $4,415,960.28. This represents a 7.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.46% of the company's stock.

Abbott Laboratories Stock Performance

Shares of NYSE ABT traded up $0.30 during midday trading on Wednesday, hitting $131.79. The company's stock had a trading volume of 9,885,780 shares, compared to its average volume of 6,171,329. The stock has a fifty day moving average price of $133.47 and a 200 day moving average price of $129.31. Abbott Laboratories has a one year low of $99.71 and a one year high of $141.23. The company has a current ratio of 1.78, a quick ratio of 1.27 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $229.30 billion, a price-to-earnings ratio of 17.09, a P/E/G ratio of 2.51 and a beta of 0.73.

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

Abbott Laboratories Dividend Announcement

The company 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 dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date is Tuesday, July 15th. Abbott Laboratories's dividend payout ratio (DPR) is presently 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.