Parr Mcknight Wealth Management Group LLC Sells 4,696 Shares of Abbott Laboratories (NYSE:ABT)

Parr Mcknight Wealth Management Group LLC trimmed its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 10.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,239 shares of the healthcare product maker's stock after selling 4,696 shares during the period. Parr Mcknight Wealth Management Group LLC's holdings in Abbott Laboratories were worth $5,470,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Redwood Park Advisors LLC bought a new position in shares of Abbott Laboratories in the fourth quarter worth about $25,000. WealthTrak Capital Management LLC bought a new position in shares of Abbott Laboratories in the fourth quarter worth about $28,000. Abound Financial LLC bought a new position in shares of Abbott Laboratories in the first quarter worth about $28,000. Wormser Freres Gestion bought a new position in Abbott Laboratories in the 4th quarter valued at approximately $32,000. Finally, JCIC Asset Management Inc. bought a new position in Abbott Laboratories in the 1st quarter valued at approximately $32,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total transaction of $337,116.00. Following the completion of the sale, the director directly owned 34,058 shares in the company, valued at $4,415,960.28. The trade was a 7.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.46% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ABT. Stifel Nicolaus increased their target price on shares of Abbott Laboratories from $135.00 to $145.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. Leerink Partnrs raised shares of Abbott Laboratories to a "hold" rating in a research report on Monday, June 16th. Piper Sandler reissued an "overweight" rating and set a $145.00 target price (up previously from $133.00) on shares of Abbott Laboratories in a research report on Thursday, April 17th. Morgan Stanley raised their price objective on shares of Abbott Laboratories from $117.00 to $127.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 17th. Finally, Evercore ISI raised their price objective on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a research report on Tuesday. Six equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $143.11.

Abbott Laboratories Stock Performance

NYSE ABT traded down $1.52 during trading hours on Friday, reaching $132.08. 2,533,077 shares of the company were exchanged, compared to its average volume of 6,141,012. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23. The business's 50 day simple moving average is $133.54 and its 200-day simple moving average is $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. The stock has a market capitalization of $229.80 billion, a P/E ratio of 17.13, a P/E/G ratio of 2.53 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 the consensus estimate of $1.07 by $0.02. The firm had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.38 billion. Abbott Laboratories had a net margin of 31.89% and a return on equity of 19.01%. On average, equities research analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be paid 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 1.79%. Abbott Laboratories's dividend payout ratio is currently 30.61%.

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.