Stratos Wealth Advisors LLC Reduces Position in Abbott Laboratories (NYSE:ABT)

Stratos Wealth Advisors LLC trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 50.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,192 shares of the healthcare product maker's stock after selling 11,284 shares during the period. Stratos Wealth Advisors LLC's holdings in Abbott Laboratories were worth $1,485,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Abbott Laboratories by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 168,645,397 shares of the healthcare product maker's stock valued at $19,075,481,000 after buying an additional 739,260 shares during the period. Capital International Investors raised its stake in shares of Abbott Laboratories by 3.4% during the fourth quarter. Capital International Investors now owns 67,972,953 shares of the healthcare product maker's stock valued at $7,688,160,000 after acquiring an additional 2,229,026 shares during the last quarter. Capital Research Global Investors raised its stake in shares of Abbott Laboratories by 1.5% during the fourth quarter. Capital Research Global Investors now owns 54,097,005 shares of the healthcare product maker's stock valued at $6,118,903,000 after acquiring an additional 795,073 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Abbott Laboratories by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 35,668,834 shares of the healthcare product maker's stock valued at $4,023,027,000 after acquiring an additional 765,636 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Abbott Laboratories by 2.3% during the fourth quarter. Wellington Management Group LLP now owns 26,392,302 shares of the healthcare product maker's stock valued at $2,985,233,000 after acquiring an additional 581,325 shares during the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Abbott Laboratories

In related news, Director Sally E. Blount sold 2,600 shares of the firm's stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total value of $337,116.00. Following the sale, the director owned 34,058 shares in the company, valued at approximately $4,415,960.28. This trade represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.46% of the company's stock.

Abbott Laboratories Stock Up 0.0%

ABT traded up $0.05 during midday trading on Wednesday, reaching $133.41. The company's stock had a trading volume of 4,613,653 shares, compared to its average volume of 6,162,455. The stock's 50-day moving average is $133.43 and its 200-day moving average is $128.69. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23. The company has a current ratio of 1.78, a quick ratio of 1.27 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $232.11 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 2.54 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 EPS for the quarter, beating analysts' consensus estimates of $1.07 by $0.02. Abbott Laboratories had a net margin of 31.89% and a return on equity of 19.01%. The firm had revenue of $10.36 billion for the quarter, compared to analysts' expectations of $10.38 billion. As a group, research analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Tuesday, July 15th. Abbott Laboratories's dividend payout ratio is currently 30.61%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ABT shares. Leerink Partners started coverage on shares of Abbott Laboratories in a research note on Monday, June 16th. They set a "market perform" rating and a $143.00 price objective for the company. Barclays upped their price objective on shares of Abbott Laboratories from $158.00 to $159.00 and gave the company an "overweight" rating in a research note on Thursday, April 17th. Royal Bank Of Canada increased their price target on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a research note on Thursday, April 17th. Morgan Stanley increased their price target on shares of Abbott Laboratories from $117.00 to $127.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 17th. Finally, Wells Fargo & Company increased their price target 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. Six 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 stock. According to data from MarketBeat, Abbott Laboratories presently has a consensus rating of "Moderate Buy" and a consensus price target of $143.11.

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.