Abbott Laboratories (NYSE:ABT) Stock Holdings Reduced by Dynamic Advisor Solutions LLC

Dynamic Advisor Solutions LLC lowered its position in Abbott Laboratories (NYSE:ABT) by 31.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,003 shares of the healthcare product maker’s stock after selling 14,955 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Abbott Laboratories were worth $3,637,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Fermata Advisors LLC grew its stake in Abbott Laboratories by 48.5% in the first quarter. Fermata Advisors LLC now owns 2,924 shares of the healthcare product maker’s stock valued at $332,000 after purchasing an additional 955 shares in the last quarter. Annex Advisory Services LLC lifted its position in shares of Abbott Laboratories by 0.4% in the first quarter. Annex Advisory Services LLC now owns 63,486 shares of the healthcare product maker’s stock worth $7,216,000 after buying an additional 279 shares during the last quarter. Salvus Wealth Management LLC lifted its position in shares of Abbott Laboratories by 17.0% in the first quarter. Salvus Wealth Management LLC now owns 4,134 shares of the healthcare product maker’s stock worth $470,000 after buying an additional 601 shares during the last quarter. Austin Private Wealth LLC lifted its position in shares of Abbott Laboratories by 9.2% in the first quarter. Austin Private Wealth LLC now owns 2,156 shares of the healthcare product maker’s stock worth $240,000 after buying an additional 182 shares during the last quarter. Finally, Nova R Wealth Inc. acquired a new stake in shares of Abbott Laboratories in the first quarter worth about $364,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ABT shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $125.00 price target on shares of Abbott Laboratories in a research report on Tuesday, June 4th. Barclays reduced their price target on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a research report on Monday, April 22nd. Raymond James reaffirmed a “buy” rating and issued a $124.00 price target on shares of Abbott Laboratories in a research report on Wednesday, April 24th. The Goldman Sachs Group began coverage on Abbott Laboratories in a research report on Thursday, May 30th. They set a “buy” rating and a $121.00 price objective for the company. Finally, Citigroup cut their price objective on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $120.64.

Abbott Laboratories Stock Performance

Abbott Laboratories stock traded up $0.17 during trading hours on Tuesday, hitting $105.47. The stock had a trading volume of 2,788,441 shares, compared to its average volume of 5,685,762. The company has a 50-day moving average of $104.97 and a two-hundred day moving average of $110.16. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The company has a market cap of $183.48 billion, a PE ratio of 32.80, a price-to-earnings-growth ratio of 2.54 and a beta of 0.74. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, beating the consensus estimate of $0.96 by $0.02. The firm had revenue of $9.96 billion during the quarter, compared to analysts’ expectations of $9.88 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.96%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.03 EPS. On average, equities research analysts anticipate that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be paid a $0.55 dividend. The ex-dividend date is Monday, July 15th. This represents a $2.20 annualized dividend and a dividend yield of 2.09%. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

Insider Activity

In other news, EVP Lisa D. Earnhardt sold 22,852 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total value of $2,428,025.00. Following the sale, the executive vice president now directly owns 61,462 shares in the company, valued at approximately $6,530,337.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Lisa D. Earnhardt sold 22,852 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the sale, the executive vice president now directly owns 61,462 shares in the company, valued at approximately $6,530,337.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jr. Robert E. Funck sold 10,097 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $104.57, for a total value of $1,055,843.29. Following the sale, the executive vice president now owns 211,341 shares in the company, valued at $22,099,928.37. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.

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.