Abbott Laboratories (NYSE:ABT) Shares Sold by Phoenix Financial Ltd.

Key Points

• Phoenix Financial Ltd. reduced its holdings in Abbott Laboratories by 27.6%, selling 9,557 shares and holding 25,013 shares valued at $3.33 million.
• Abbott Laboratories reported a net margin of 32.43% and year-over-year revenue growth of 7.4%, with earnings per share matching analyst estimates at $1.26.
• The company declared a quarterly dividend of $0.59 per share, with a dividend yield of 1.87%, scheduled for payment on August 15th.

Phoenix Financial Ltd. reduced its position in Abbott Laboratories (NYSE:ABT - Free Report) by 27.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,013 shares of the healthcare product maker's stock after selling 9,557 shares during the quarter. Phoenix Financial Ltd.'s holdings in Abbott Laboratories were worth $3,325,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ABT. Capital International Investors increased its stake in shares of Abbott Laboratories by 3.4% in the 4th quarter. Capital International Investors now owns 67,972,953 shares of the healthcare product maker's stock worth $7,688,160,000 after acquiring an additional 2,229,026 shares during the last quarter. Capital Research Global Investors increased its stake in shares of Abbott Laboratories by 1.5% in the 4th quarter. Capital Research Global Investors now owns 54,097,005 shares of the healthcare product maker's stock worth $6,118,903,000 after acquiring an additional 795,073 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Abbott Laboratories by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 35,668,834 shares of the healthcare product maker's stock worth $4,023,027,000 after acquiring an additional 765,636 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Abbott Laboratories by 2.3% in the 4th quarter. Wellington Management Group LLP now owns 26,392,302 shares of the healthcare product maker's stock worth $2,985,233,000 after acquiring an additional 581,325 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Abbott Laboratories by 10.3% in the 4th quarter. Northern Trust Corp now owns 22,056,860 shares of the healthcare product maker's stock worth $2,494,851,000 after acquiring an additional 2,060,650 shares during the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Stock Up 0.5%

Shares of ABT traded up $0.65 during midday trading on Wednesday, hitting $128.66. The company had a trading volume of 1,590,842 shares, compared to its average volume of 6,932,667. The company's 50-day simple moving average is $132.06 and its 200-day simple moving average is $130.18. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.27 and a current ratio of 1.78. The firm has a market capitalization of $223.85 billion, a P/E ratio of 16.15, a P/E/G ratio of 2.40 and a beta of 0.73. Abbott Laboratories has a 1 year low of $103.55 and a 1 year high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.26. Abbott Laboratories had a return on equity of 18.83% and a net margin of 32.43%. The business had revenue of $11.14 billion during the quarter, compared to analysts' expectations of $11.01 billion. During the same quarter last year, the business posted $1.14 EPS. The business's quarterly revenue was up 7.4% compared to the same quarter last year. As a group, sell-side analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend is Tuesday, July 15th. Abbott Laboratories's dividend payout ratio (DPR) is presently 29.57%.

Wall Street Analyst Weigh In

ABT has been the subject of a number of recent research reports. Leerink Partnrs raised Abbott Laboratories to a "hold" rating in a research note on Monday, June 16th. Evercore ISI increased their price target on Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Morgan Stanley increased their price target on Abbott Laboratories from $127.00 to $137.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Barclays increased their price target on Abbott Laboratories from $158.00 to $159.00 and gave the stock an "overweight" rating in a report on Thursday, April 17th. Finally, Stifel Nicolaus increased their price target on Abbott Laboratories from $135.00 to $145.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Five equities research 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's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $144.47.

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.