Abbott Laboratories (NYSE:ABT) Shares Sold by Stratos Wealth Advisors LLC

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

A number of other hedge funds have also added to or reduced their stakes in the company. Redwood Park Advisors LLC acquired a new position in Abbott Laboratories in the fourth quarter valued at $25,000. WealthTrak Capital Management LLC bought a new position in shares of Abbott Laboratories during the 4th quarter valued at approximately $28,000. Abound Financial LLC purchased a new stake in Abbott Laboratories in the 1st quarter worth approximately $28,000. Wormser Freres Gestion purchased a new stake in Abbott Laboratories in the 4th quarter worth approximately $32,000. Finally, JCIC Asset Management Inc. purchased a new stake in shares of Abbott Laboratories during the 1st quarter valued at $32,000. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Trading Up 0.5%

Shares of ABT traded up $0.61 during midday trading on Thursday, hitting $133.83. The stock had a trading volume of 1,181,181 shares, compared to its average volume of 6,143,741. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23. The firm has a market cap of $232.84 billion, a PE ratio of 17.39, a price-to-earnings-growth ratio of 2.53 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. The stock's 50 day moving average is $133.49 and its 200 day moving average is $128.72.

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, topping the consensus estimate of $1.07 by $0.02. The company had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.38 billion. Abbott Laboratories had a net margin of 31.89% and a return on equity of 19.01%. As a group, analysts forecast that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Tuesday, July 15th. Abbott Laboratories's payout ratio is currently 30.61%.

Insider Activity at Abbott Laboratories

In other 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 value of $337,116.00. Following the sale, the director directly owned 34,058 shares of the company's stock, valued at $4,415,960.28. This represents a 7.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.46% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ABT shares. Stifel Nicolaus lifted their target price on shares of Abbott Laboratories from $135.00 to $145.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. Wells Fargo & Company lifted their target price on shares of Abbott Laboratories from $136.00 to $147.00 and gave the stock an "overweight" rating in a report on Thursday, April 17th. Piper Sandler reissued an "overweight" rating and set a $145.00 price objective (up from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. Barclays boosted their target price 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. Finally, Leerink Partnrs upgraded shares of Abbott Laboratories to a "hold" rating in a research report on Monday, June 16th. Six analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Abbott Laboratories has a consensus rating of "Moderate Buy" and an average target price 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.