Mutual of America Capital Management LLC Sells 6,080 Shares of Abbott Laboratories (NYSE:ABT)

Mutual of America Capital Management LLC lessened its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 2.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 201,408 shares of the healthcare product maker's stock after selling 6,080 shares during the quarter. Mutual of America Capital Management LLC's holdings in Abbott Laboratories were worth $26,717,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Redwood Park Advisors LLC acquired a new stake in shares of Abbott Laboratories in the 4th quarter valued at about $25,000. WealthTrak Capital Management LLC bought a new position in shares of Abbott Laboratories in the 4th quarter valued at about $28,000. Abound Financial LLC bought a new position in shares of Abbott Laboratories in the 1st quarter valued at about $28,000. Wormser Freres Gestion bought a new position in Abbott Laboratories during the fourth quarter worth about $32,000. Finally, JCIC Asset Management Inc. bought a new position in Abbott Laboratories during the first quarter worth about $32,000. Institutional investors and hedge funds own 75.18% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ABT. Wells Fargo & Company lifted their price target on Abbott Laboratories from $136.00 to $147.00 and gave the stock an "overweight" rating in a report on Thursday, April 17th. Morgan Stanley raised their price objective on shares of Abbott Laboratories from $127.00 to $137.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Barclays raised their price objective on shares of Abbott Laboratories from $158.00 to $159.00 and gave the stock an "overweight" rating in a research report on Thursday, April 17th. Piper Sandler restated an "overweight" rating and set a $145.00 price objective (up from $133.00) on shares of Abbott Laboratories in a research report on Thursday, April 17th. Finally, Leerink Partnrs upgraded shares of Abbott Laboratories to a "hold" rating in a research report on Monday, June 16th. Six analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Abbott Laboratories currently has an average rating of "Moderate Buy" and a consensus price target of $143.78.

Abbott Laboratories Stock Down 0.0%

Shares of NYSE ABT traded down $0.06 during midday trading on Tuesday, hitting $131.38. The stock had a trading volume of 2,610,353 shares, compared to its average volume of 6,142,455. The business's 50 day moving average is $133.51 and its 200-day moving average is $129.29. The company has a market cap of $228.58 billion, a P/E ratio of 17.05, a PEG ratio of 2.51 and a beta of 0.73. Abbott Laboratories has a 52 week low of $99.71 and a 52 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.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its 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 company had revenue of $10.36 billion for 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, analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently disclosed 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 is Tuesday, July 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.80%. Abbott Laboratories's dividend payout ratio (DPR) is 30.61%.

Insiders Place Their Bets

In related news, Director Sally E. Blount sold 2,600 shares of the company's 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 completion of the transaction, the director owned 34,058 shares of the company's stock, valued at approximately $4,415,960.28. This represents a 7.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.46% of the company's stock.

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.