Abbott Laboratories (NYSE:ABT) Shares Sold by Moloney Securities Asset Management LLC

Moloney Securities Asset Management LLC lessened its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 18.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 15,785 shares of the healthcare product maker's stock after selling 3,656 shares during the period. Moloney Securities Asset Management LLC's holdings in Abbott Laboratories were worth $2,094,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ABT. Axxcess Wealth Management LLC boosted its position in Abbott Laboratories by 7.1% in the 1st quarter. Axxcess Wealth Management LLC now owns 130,099 shares of the healthcare product maker's stock valued at $17,258,000 after buying an additional 8,666 shares during the period. Rehmann Capital Advisory Group boosted its position in Abbott Laboratories by 5.7% in the 1st quarter. Rehmann Capital Advisory Group now owns 12,427 shares of the healthcare product maker's stock valued at $1,648,000 after buying an additional 674 shares during the period. Linden Thomas Advisory Services LLC boosted its position in Abbott Laboratories by 4.8% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 32,824 shares of the healthcare product maker's stock valued at $4,354,000 after buying an additional 1,516 shares during the period. Greenleaf Trust boosted its position in Abbott Laboratories by 3.6% in the 1st quarter. Greenleaf Trust now owns 99,302 shares of the healthcare product maker's stock valued at $13,172,000 after buying an additional 3,459 shares during the period. Finally, Trek Financial LLC lifted its position in shares of Abbott Laboratories by 3.5% during the 1st quarter. Trek Financial LLC now owns 10,105 shares of the healthcare product maker's stock worth $1,340,000 after purchasing an additional 344 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company's stock.

Abbott Laboratories Stock Performance

NYSE ABT traded up $0.42 during trading hours on Thursday, hitting $133.64. 4,852,335 shares of the stock were exchanged, compared to its average volume of 6,155,060. The company has a market cap of $232.51 billion, a price-to-earnings ratio of 17.33, a price-to-earnings-growth ratio of 2.53 and a beta of 0.73. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $141.23. The stock has a 50-day moving average of $133.54 and a 200 day moving average of $128.86. The company has a quick ratio of 1.27, a current ratio of 1.78 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 (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.02. The firm 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, equities research analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $2.36 annualized dividend and a yield of 1.77%. Abbott Laboratories's payout ratio is currently 30.61%.

Insiders Place Their Bets

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the company'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 transaction, the director directly owned 34,058 shares in the company, valued at approximately $4,415,960.28. This represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ABT. Leerink Partners began coverage on shares of Abbott Laboratories in a research note on Monday, June 16th. They set a "market perform" rating and a $143.00 target price for the company. Jefferies Financial Group boosted their target price on shares of Abbott Laboratories from $135.00 to $137.00 and gave the stock a "hold" rating in a research note on Thursday, April 17th. Barclays boosted their target price on shares of Abbott Laboratories from $158.00 to $159.00 and gave the stock an "overweight" rating in a research note on Thursday, April 17th. Wells Fargo & Company boosted their target price on shares of Abbott Laboratories from $136.00 to $147.00 and gave the stock an "overweight" rating in a research note on Thursday, April 17th. Finally, Evercore ISI boosted their target price on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a research note on Tuesday. Six research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $143.11.

Abbott Laboratories 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.