Abbott Laboratories (NYSE:ABT) Shares Sold by Sheaff Brock Investment Advisors LLC

Sheaff Brock Investment Advisors LLC trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT) by 4.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,455 shares of the healthcare product maker’s stock after selling 454 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Abbott Laboratories were worth $795,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ABT. Castle Rock Wealth Management LLC increased its holdings in Abbott Laboratories by 2.4% in the fourth quarter. Castle Rock Wealth Management LLC now owns 14,275 shares of the healthcare product maker’s stock valued at $1,044,000 after purchasing an additional 334 shares during the period. Fairview Capital Investment Management LLC increased its holdings in Abbott Laboratories by 2.5% in the fourth quarter. Fairview Capital Investment Management LLC now owns 6,168 shares of the healthcare product maker’s stock valued at $446,000 after purchasing an additional 151 shares during the period. Geode Capital Management LLC increased its holdings in Abbott Laboratories by 8.7% in the fourth quarter. Geode Capital Management LLC now owns 22,133,985 shares of the healthcare product maker’s stock valued at $1,598,270,000 after purchasing an additional 1,778,840 shares during the period. Edmond DE Rothschild Holding S.A. increased its holdings in Abbott Laboratories by 26.9% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 206,435 shares of the healthcare product maker’s stock valued at $14,932,000 after purchasing an additional 43,704 shares during the period. Finally, Abacus Planning Group Inc. increased its holdings in Abbott Laboratories by 1,765.9% in the fourth quarter. Abacus Planning Group Inc. now owns 58,793 shares of the healthcare product maker’s stock valued at $9,274,000 after purchasing an additional 55,642 shares during the period. Institutional investors and hedge funds own 73.42% of the company’s stock.

A number of analysts recently weighed in on ABT shares. BMO Capital Markets increased their price objective on Abbott Laboratories from $87.00 to $94.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Jefferies Financial Group upped their price target on shares of Abbott Laboratories from $80.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Bank of America reaffirmed a “buy” rating and set a $81.00 price target on shares of Abbott Laboratories in a research report on Thursday, June 13th. Raymond James upped their price target on shares of Abbott Laboratories from $87.00 to $93.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Finally, William Blair reaffirmed an “outperform” rating on shares of Abbott Laboratories in a research report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $85.82.

ABT traded up $0.05 during trading on Wednesday, reaching $84.71. 682,629 shares of the stock traded hands, compared to its average volume of 5,655,848. The company has a quick ratio of 1.20, a current ratio of 1.68 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $153.09 billion, a PE ratio of 29.41, a PEG ratio of 2.44 and a beta of 1.12. The company has a 50-day simple moving average of $85.76. Abbott Laboratories has a 12 month low of $63.07 and a 12 month high of $88.76.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, July 17th. The healthcare product maker reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.02. The company had revenue of $7.98 billion for the quarter, compared to analysts’ expectations of $8 billion. Abbott Laboratories had a net margin of 9.36% and a return on equity of 17.26%. The business’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.73 EPS. Equities research analysts anticipate that Abbott Laboratories will post 3.24 EPS for the current fiscal year.

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 given a dividend of $0.32 per share. The ex-dividend date is Friday, July 12th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.51%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.44%.

In other news, SVP Michael J. Pederson sold 23,008 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $86.39, for a total transaction of $1,987,661.12. Following the transaction, the senior vice president now owns 104,228 shares of the company’s stock, valued at approximately $9,004,256.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sally E. Blount sold 2,500 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $87.65, for a total transaction of $219,125.00. Following the transaction, the director now directly owns 26,266 shares in the company, valued at approximately $2,302,214.90. The disclosure for this sale can be found here. Insiders have sold a total of 885,102 shares of company stock worth $71,110,429 in the last three months. Insiders own 0.70% of the company’s stock.

About Abbott Laboratories

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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