Sheaff Brock Investment Advisors LLC Lowers Stock Holdings in Abbott Laboratories (NYSE:ABT)

Key Points

• Sheaff Brock Investment Advisors LLC reduced its stake in Abbott Laboratories by 59.1%, selling 5,833 shares and holding 4,033 shares valued at approximately $535,000.
• Abbott Laboratories announced a quarterly dividend of $0.59 per share, yielding 1.87%, with a payout ratio of 29.57%.
• According to analysts, Abbott Laboratories had a net margin of 32.43% and reported quarterly revenue of $11.14 billion, exceeding estimates.

Sheaff Brock Investment Advisors LLC trimmed its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 59.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,033 shares of the healthcare product maker's stock after selling 5,833 shares during the period. Sheaff Brock Investment Advisors LLC's holdings in Abbott Laboratories were worth $535,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in ABT. Brighton Jones LLC boosted its position in Abbott Laboratories by 10.1% in the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker's stock valued at $5,850,000 after buying an additional 4,755 shares during the period. Bank Pictet & Cie Europe AG raised its holdings in shares of Abbott Laboratories by 1.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock valued at $17,274,000 after purchasing an additional 2,774 shares in the last quarter. Schroder Investment Management Group raised its holdings in shares of Abbott Laboratories by 8.1% in the 4th quarter. Schroder Investment Management Group now owns 1,079,490 shares of the healthcare product maker's stock valued at $122,101,000 after purchasing an additional 80,661 shares in the last quarter. Physician Wealth Advisors Inc. bought a new stake in shares of Abbott Laboratories in the 4th quarter valued at about $74,000. Finally, O Shaughnessy Asset Management LLC raised its holdings in shares of Abbott Laboratories by 23.7% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 198,839 shares of the healthcare product maker's stock valued at $22,491,000 after purchasing an additional 38,112 shares in the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Down 0.2%

ABT stock opened at $126.28 on Tuesday. The firm's fifty day simple moving average is $132.20 and its 200-day simple moving average is $130.19. The company has a market capitalization of $219.71 billion, a P/E ratio of 15.82, a price-to-earnings-growth ratio of 2.40 and a beta of 0.73. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.78 and a quick ratio of 1.27. Abbott Laboratories has a 12 month low of $99.92 and a 12 month high of $141.23.

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

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Tuesday, July 15th. Abbott Laboratories's dividend payout ratio (DPR) is presently 29.57%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ABT. Morgan Stanley boosted their price target on shares of Abbott Laboratories from $127.00 to $137.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Raymond James Financial reduced their price target on shares of Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating for the company in a report on Friday, July 18th. Royal Bank Of Canada boosted their price target on shares of Abbott Laboratories from $145.00 to $147.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Mizuho boosted their price objective on shares of Abbott Laboratories from $130.00 to $140.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Finally, Evercore ISI boosted their price objective on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Abbott Laboratories has a consensus rating of "Moderate Buy" and an average target price of $144.47.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the company's stock in a transaction 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 transaction, the director directly owned 34,058 shares in the company, valued at approximately $4,415,960.28. This represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company 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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