Abbott Laboratories (NYSE:ABT) Shares Sold by Mitchell Sinkler & Starr PA

Key Points

• Mitchell Sinkler & Starr PA reduced its stake in Abbott Laboratories by 6.4% in the first quarter, now holding 92,484 shares worth approximately $12.27 million.
• Analyst ratings for Abbott Laboratories are predominantly positive, with 17 buy ratings, 5 hold ratings, and an average target price of $144.47.
• Abbott Laboratories announced a quarterly dividend of $0.59 per share, equating to an annual yield of 1.87%, with a payout ratio of 29.57%.

Mitchell Sinkler & Starr PA reduced its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 6.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 92,484 shares of the healthcare product maker's stock after selling 6,299 shares during the quarter. Abbott Laboratories makes up 3.4% of Mitchell Sinkler & Starr PA's investment portfolio, making the stock its 3rd biggest holding. Mitchell Sinkler & Starr PA's holdings in Abbott Laboratories were worth $12,268,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Cim LLC lifted its holdings in shares of Abbott Laboratories by 0.4% in the fourth 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 lifted its stake in Abbott Laboratories by 2.7% in the 4th quarter. Capital Square LLC now owns 2,941 shares of the healthcare product maker's stock worth $368,000 after acquiring an additional 77 shares in the last quarter. Consilium Wealth Advisory LLC boosted its position in Abbott Laboratories by 2.1% during the 1st quarter. Consilium Wealth Advisory LLC now owns 3,822 shares of the healthcare product maker's stock worth $507,000 after acquiring an additional 78 shares during the period. Mayflower Financial Advisors LLC increased its holdings in shares of Abbott Laboratories by 0.5% in the 1st quarter. Mayflower Financial Advisors LLC now owns 17,327 shares of the healthcare product maker's stock valued at $2,298,000 after purchasing an additional 78 shares during the period. Finally, Opes Wealth Management LLC increased its holdings in shares of Abbott Laboratories by 2.9% in the 1st quarter. Opes Wealth Management LLC now owns 2,854 shares of the healthcare product maker's stock valued at $379,000 after purchasing an additional 80 shares during the period. Hedge funds and other institutional investors own 75.18% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Leerink Partnrs raised shares of Abbott Laboratories to a "hold" rating in a research report on Monday, June 16th. Leerink Partners began coverage on shares of Abbott Laboratories in a report on Monday, June 16th. They set a "market perform" rating and a $143.00 price target on the stock. Raymond James Financial cut their price objective on Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating for the company in a report on Friday, July 18th. William Blair upgraded Abbott Laboratories to a "strong-buy" rating in a research note on Thursday, July 17th. Finally, Mizuho raised their price target on Abbott Laboratories from $130.00 to $140.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Four 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, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $144.47.

Abbott Laboratories Stock Performance

Shares of ABT stock traded down $0.94 during trading hours on Thursday, reaching $127.61. 2,185,262 shares of the company's stock were exchanged, compared to its average volume of 6,926,699. Abbott Laboratories has a fifty-two week low of $103.55 and a fifty-two week high of $141.23. The company has a quick ratio of 1.27, a current ratio of 1.78 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $222.02 billion, a P/E ratio of 16.01, a P/E/G ratio of 2.43 and a beta of 0.73. The business has a fifty day moving average price of $131.97 and a 200-day moving average price of $130.17.

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

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be given a $0.59 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.85%. Abbott Laboratories's dividend payout ratio is currently 29.57%.

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.