Abbott Laboratories (NYSE:ABT) Holdings Decreased by Sanibel Captiva Trust Company Inc.

Sanibel Captiva Trust Company Inc. lessened its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 2.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 145,767 shares of the healthcare product maker's stock after selling 3,436 shares during the period. Sanibel Captiva Trust Company Inc.'s holdings in Abbott Laboratories were worth $19,336,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Activity

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

Abbott Laboratories Stock Down 0.8%

Shares of NYSE ABT traded down $1.04 during midday trading on Friday, hitting $135.41. The company's stock had a trading volume of 3,927,244 shares, compared to its average volume of 6,098,052. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23. The business's fifty day simple moving average is $131.50 and its two-hundred day simple moving average is $126.37. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The firm has a market capitalization of $235.59 billion, a price-to-earnings ratio of 17.70, a price-to-earnings-growth ratio of 2.52 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced 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. The firm had revenue of $10.36 billion during the quarter, compared to analysts' expectations of $10.38 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. On average, equities analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.74%. Abbott Laboratories's payout ratio is currently 30.61%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ABT. Citigroup raised their target price on shares of Abbott Laboratories from $135.00 to $160.00 and gave the company a "buy" rating in a research note on Tuesday, March 4th. Royal Bank of Canada boosted their target price on Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a research note on Thursday, April 17th. Bank of America upped their target price on Abbott Laboratories from $133.00 to $150.00 and gave the stock a "buy" rating in a report on Monday, March 10th. Wells Fargo & Company boosted their price objective on shares of Abbott Laboratories from $136.00 to $147.00 and gave the stock an "overweight" rating in a research note on Thursday, April 17th. Finally, Barclays increased their price objective on shares of Abbott Laboratories from $158.00 to $159.00 and gave the company an "overweight" rating in a research report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Abbott Laboratories currently has a consensus rating of "Moderate Buy" and a consensus target price of $142.59.

Abbott Laboratories Company 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.