Wealth Advisory Solutions LLC Reduces Position in Abbott Laboratories (NYSE:ABT)

Wealth Advisory Solutions LLC lessened its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 51.4% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 2,719 shares of the healthcare product maker's stock after selling 2,879 shares during the period. Wealth Advisory Solutions LLC's holdings in Abbott Laboratories were worth $355,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cim LLC raised its stake in Abbott Laboratories by 0.4% during the 4th quarter. Cim LLC now owns 16,967 shares of the healthcare product maker's stock worth $1,919,000 after acquiring an additional 73 shares during the period. Capital Square LLC grew its position in shares of Abbott Laboratories by 2.7% during the fourth quarter. Capital Square LLC now owns 2,941 shares of the healthcare product maker's stock valued at $368,000 after purchasing an additional 77 shares in the last quarter. Consilium Wealth Advisory LLC increased its stake in Abbott Laboratories by 2.1% in the 1st quarter. Consilium Wealth Advisory LLC now owns 3,822 shares of the healthcare product maker's stock worth $507,000 after acquiring an additional 78 shares during the last quarter. Cyrus J. Lawrence LLC raised its stake in Abbott Laboratories by 9.0% during the fourth quarter. Cyrus J. Lawrence LLC now owns 954 shares of the healthcare product maker's stock valued at $107,000 after purchasing an additional 79 shares in the last quarter. Finally, Edge Financial Advisors LLC lifted its holdings in shares of Abbott Laboratories by 3.3% in the 1st quarter. Edge Financial Advisors LLC now owns 2,530 shares of the healthcare product maker's stock valued at $336,000 after acquiring an additional 81 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Royal Bank Of Canada boosted their price objective on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a research report on Thursday, April 17th. Raymond James Financial boosted their target price on shares of Abbott Laboratories from $132.00 to $142.00 and gave the company an "outperform" rating in a research note on Thursday, April 17th. Piper Sandler reiterated an "overweight" rating and set a $145.00 price objective (up previously from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. Evercore ISI upped their target price on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a research note on Tuesday. Finally, Stifel Nicolaus lifted their price target 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. Six analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Abbott Laboratories presently has an average rating of "Moderate Buy" and a consensus target price of $143.11.

Abbott Laboratories Stock Down 1.2%

ABT stock traded down $1.66 during trading on Friday, reaching $131.95. 4,661,224 shares of the company traded hands, compared to its average volume of 6,149,109. The business has a 50 day simple moving average of $133.54 and a 200 day simple moving average of $128.86. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $141.23. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.27 and a current ratio of 1.78. The company has a market capitalization of $229.56 billion, a price-to-earnings ratio of 17.11, a price-to-earnings-growth ratio of 2.53 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.38 billion. Abbott Laboratories had a net margin of 31.89% and a return on equity of 19.01%. On average, equities research analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $2.36 annualized dividend and a yield of 1.79%. Abbott Laboratories's dividend payout ratio (DPR) is 30.61%.

Insider Transactions at Abbott Laboratories

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 transaction of $337,116.00. Following the sale, the director owned 34,058 shares in the company, valued at approximately $4,415,960.28. The trade was a 7.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.46% of the stock is owned by corporate insiders.

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.