Richard Bernstein Advisors LLC Sells 2,762 Shares of Abbott Laboratories (NYSE:ABT)

Richard Bernstein Advisors LLC cut its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 4.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 56,554 shares of the healthcare product maker's stock after selling 2,762 shares during the quarter. Richard Bernstein Advisors LLC's holdings in Abbott Laboratories were worth $7,502,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Redwood Park Advisors LLC acquired a new position in Abbott Laboratories during the 4th quarter worth approximately $25,000. WealthTrak Capital Management LLC acquired a new position in Abbott Laboratories during the 4th quarter worth approximately $28,000. Rialto Wealth Management LLC acquired a new position in Abbott Laboratories during the 4th quarter worth approximately $29,000. Wormser Freres Gestion acquired a new position in Abbott Laboratories during the 4th quarter worth approximately $32,000. Finally, JCIC Asset Management Inc. acquired a new position in Abbott Laboratories during the 1st quarter worth approximately $32,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Stock Performance

ABT traded up $0.05 during trading hours on Wednesday, reaching $133.41. The company's stock had a trading volume of 4,613,653 shares, compared to its average volume of 6,162,028. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $141.23. The company's 50-day moving average is $133.49 and its 200-day moving average is $128.72. 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 cap of $232.11 billion, a PE ratio of 17.30, a price-to-earnings-growth ratio of 2.53 and a beta of 0.73.

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 for the quarter, beating analysts' consensus estimates of $1.07 by $0.02. Abbott Laboratories had a return on equity of 19.01% and a net margin of 31.89%. The business had revenue of $10.36 billion for the quarter, compared to analysts' expectations of $10.38 billion. On average, equities analysts forecast that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The company 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 dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.77%. The ex-dividend date is Tuesday, July 15th. Abbott Laboratories's payout ratio is 30.61%.

Analyst Ratings Changes

A number of research firms have weighed in on ABT. Leerink Partners began coverage on Abbott Laboratories in a research report on Monday, June 16th. They set a "market perform" rating and a $143.00 price target for the company. Jefferies Financial Group upped their price objective on Abbott Laboratories from $135.00 to $137.00 and gave the stock a "hold" rating in a research note on Thursday, April 17th. Evercore ISI upped their price objective on Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a research note on Tuesday. Raymond James Financial upped their price objective on Abbott Laboratories from $132.00 to $142.00 and gave the stock an "outperform" rating in a research note on Thursday, April 17th. Finally, Barclays upped their price objective on Abbott Laboratories from $158.00 to $159.00 and gave the stock an "overweight" rating in a research note on Thursday, April 17th. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Abbott Laboratories has an average rating of "Moderate Buy" and a consensus target price of $143.11.

Insiders Place Their Bets

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total transaction of $337,116.00. Following the transaction, the director owned 34,058 shares in the company, valued at $4,415,960.28. This trade represents a 7.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.46% of the stock is owned by insiders.

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.