Summit Place Financial Advisors LLC Decreases Holdings in Abbott Laboratories (NYSE:ABT)

Summit Place Financial Advisors LLC lessened its position in Abbott Laboratories (NYSE:ABT - Free Report) by 57.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,948 shares of the healthcare product maker's stock after selling 14,750 shares during the quarter. Summit Place Financial Advisors LLC's holdings in Abbott Laboratories were worth $1,452,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Abbott Laboratories by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 168,645,397 shares of the healthcare product maker's stock worth $19,075,481,000 after acquiring an additional 739,260 shares during the period. Capital International Investors boosted its stake in shares of Abbott Laboratories by 3.4% during the 4th quarter. Capital International Investors now owns 67,972,953 shares of the healthcare product maker's stock worth $7,688,160,000 after acquiring an additional 2,229,026 shares during the period. Capital Research Global Investors lifted its holdings in Abbott Laboratories by 1.5% during the 4th quarter. Capital Research Global Investors now owns 54,097,005 shares of the healthcare product maker's stock worth $6,118,903,000 after purchasing an additional 795,073 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Abbott Laboratories by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 35,668,834 shares of the healthcare product maker's stock worth $4,023,027,000 after purchasing an additional 765,636 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Abbott Laboratories by 2.3% during the 4th quarter. Wellington Management Group LLP now owns 26,392,302 shares of the healthcare product maker's stock worth $2,985,233,000 after purchasing an additional 581,325 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company's stock.

Insiders Place Their Bets

In other news, Director Sally E. Blount sold 2,600 shares of Abbott Laboratories stock in a transaction that occurred 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 trade represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.46% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on ABT shares. Wells Fargo & Company lifted their price target on Abbott Laboratories from $136.00 to $147.00 and gave the stock an "overweight" rating in a report on Thursday, April 17th. Leerink Partnrs raised Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. Barclays lifted their price target on Abbott Laboratories from $158.00 to $159.00 and gave the stock an "overweight" rating in a report on Thursday, April 17th. Piper Sandler reaffirmed an "overweight" rating and issued a $145.00 price objective (up from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. Finally, Jefferies Financial Group lifted their price objective on Abbott Laboratories from $135.00 to $137.00 and gave the company a "hold" rating in a report on Thursday, April 17th. Six analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $142.61.

Abbott Laboratories Trading Down 0.3%

Shares of ABT traded down $0.42 during trading hours on Friday, hitting $133.70. The company had a trading volume of 3,114,335 shares, compared to its average volume of 6,156,602. The company has a quick ratio of 1.27, a current ratio of 1.78 and a debt-to-equity ratio of 0.26. The firm has a market cap of $232.61 billion, a P/E ratio of 17.34, a P/E/G ratio of 2.55 and a beta of 0.73. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $141.23. The stock's 50 day moving average price is $133.29 and its 200 day moving average price is $128.41.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (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 analysts' expectations of $10.38 billion. Abbott Laboratories had a return on equity of 19.01% and a net margin of 31.89%. On average, research analysts predict 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. The ex-dividend date is Tuesday, July 15th. This represents a $2.36 annualized dividend and a yield of 1.77%. Abbott Laboratories's payout ratio is 30.61%.

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.