Tyche Wealth Partners LLC Sells 5,127 Shares of Abbott Laboratories (NYSE:ABT)

Tyche Wealth Partners LLC decreased its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 30.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,502 shares of the healthcare product maker's stock after selling 5,127 shares during the period. Tyche Wealth Partners LLC's holdings in Abbott Laboratories were worth $1,526,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Redwood Park Advisors LLC bought a new position in Abbott Laboratories during the fourth quarter valued at approximately $25,000. Noble Wealth Management PBC bought a new position in Abbott Laboratories during the fourth quarter valued at approximately $26,000. NewSquare Capital LLC boosted its stake in Abbott Laboratories by 78.4% during the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker's stock valued at $27,000 after buying an additional 105 shares during the last quarter. WealthTrak Capital Management LLC bought a new position in Abbott Laboratories during the fourth quarter valued at approximately $28,000. Finally, Rialto Wealth Management LLC bought a new position in Abbott Laboratories during the fourth quarter valued at approximately $29,000. Institutional investors own 75.18% of the company's stock.

Abbott Laboratories Stock Up 3.7%

Shares of ABT stock opened at $138.13 on Wednesday. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $141.23. The stock's fifty day moving average price is $132.54 and its 200 day moving average price is $127.23. 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 company has a market cap of $240.32 billion, a price-to-earnings ratio of 17.92, a price-to-earnings-growth ratio of 2.53 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.02. Abbott Laboratories had a return on equity of 19.01% and a net margin of 31.89%. The firm had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.38 billion. On average, research analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a yield of 1.71%. Abbott Laboratories's dividend payout ratio is currently 30.61%.

Insiders Place Their Bets

In other news, Director Sally E. Blount sold 2,600 shares of the business's 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 $4,415,960.28. The trade was a 7.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.46% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ABT has been the subject of several analyst reports. Bank of America raised their price objective on Abbott Laboratories from $133.00 to $150.00 and gave the company a "buy" rating in a research note on Monday, March 10th. Leerink Partners initiated coverage on Abbott Laboratories in a research note on Monday, June 16th. They issued a "market perform" rating and a $143.00 price objective for the company. Piper Sandler reaffirmed an "overweight" rating and issued a $145.00 price objective (up from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. Royal Bank Of Canada raised their price objective on Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a research note on Thursday, April 17th. Finally, Jefferies Financial Group increased their price target on Abbott Laboratories from $135.00 to $137.00 and gave the stock a "hold" rating in a report on Thursday, April 17th. Six research 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 company. According to MarketBeat, Abbott Laboratories has an average rating of "Moderate Buy" and a consensus target price of $142.61.

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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