Osborne Partners Capital Management LLC Sells 3,639 Shares of Abbott Laboratories (NYSE:ABT)

Osborne Partners Capital Management LLC trimmed its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 3.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 115,507 shares of the healthcare product maker's stock after selling 3,639 shares during the quarter. Osborne Partners Capital Management LLC's holdings in Abbott Laboratories were worth $15,322,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Redwood Park Advisors LLC acquired a new position in Abbott Laboratories during the 4th quarter valued at $25,000. Noble Wealth Management PBC bought a new position in shares of Abbott Laboratories during the 4th quarter worth about $26,000. NewSquare Capital LLC raised its position in shares of Abbott Laboratories by 78.4% during the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker's stock valued at $27,000 after buying an additional 105 shares during the last quarter. WealthTrak Capital Management LLC bought a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $28,000. Finally, Rialto Wealth Management LLC acquired a new stake in Abbott Laboratories during the fourth quarter worth about $29,000. Institutional investors and hedge funds own 75.18% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Citigroup upped their price target on Abbott Laboratories from $135.00 to $160.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Wells Fargo & Company boosted their price objective on Abbott Laboratories from $136.00 to $147.00 and gave the company an "overweight" rating in a research report on Thursday, April 17th. Piper Sandler restated an "overweight" rating and issued a $145.00 target price (up from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. Stifel Nicolaus lifted their price target on shares of Abbott Laboratories from $135.00 to $145.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Finally, Leerink Partnrs upgraded shares of Abbott Laboratories to a "hold" rating in a research note on Monday. Six investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Abbott Laboratories has an average rating of "Moderate Buy" and a consensus target price of $142.61.

Abbott Laboratories Trading Up 0.1%

Shares of ABT stock opened at $132.35 on Friday. The company has a market capitalization of $230.27 billion, a P/E ratio of 17.17, a P/E/G ratio of 2.51 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 company has a quick ratio of 1.27, a current ratio of 1.78 and a debt-to-equity ratio of 0.26. The firm has a 50-day moving average price of $132.07 and a 200 day moving average price of $126.76.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.02. The company had revenue of $10.36 billion during 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%. Research analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm 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 of this dividend is Tuesday, July 15th. This represents a $2.36 annualized dividend and a yield of 1.78%. Abbott Laboratories's payout ratio is 30.61%.

Insiders Place Their Bets

In other news, Director Sally E. Blount sold 2,600 shares of the firm's stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total value of $337,116.00. Following the completion of the sale, the director now directly owns 34,058 shares in the company, valued at approximately $4,415,960.28. This trade represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.46% of the company's stock.

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.

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