Abbott Laboratories (NYSE:ABT) Shares Sold by Smith Moore & CO.

Smith Moore & CO. lowered its position in shares of Abbott Laboratories (NYSE:ABTGet Rating) by 2.3% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 28,954 shares of the healthcare product maker’s stock after selling 686 shares during the quarter. Smith Moore & CO.’s holdings in Abbott Laboratories were worth $3,146,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Oliver Lagore Vanvalin Investment Group acquired a new stake in Abbott Laboratories in the first quarter worth approximately $30,000. Dravo Bay LLC acquired a new stake in shares of Abbott Laboratories during the first quarter valued at approximately $32,000. Monumental Financial Group Inc. purchased a new stake in shares of Abbott Laboratories in the first quarter valued at $38,000. Aurora Private Wealth Inc. acquired a new stake in Abbott Laboratories during the 2nd quarter worth about $58,000. Finally, WFA of San Diego LLC purchased a new position in Abbott Laboratories during the second quarter valued at approximately $60,000. Institutional investors and hedge funds own 73.03% of the company’s stock.

Analyst Ratings Changes

ABT has been the subject of a number of analyst reports. Jefferies Financial Group began coverage on shares of Abbott Laboratories in a research note on Wednesday, October 12th. They issued a “hold” rating and a $110.00 target price for the company. Mizuho initiated coverage on shares of Abbott Laboratories in a research note on Wednesday, October 26th. They issued a “neutral” rating and a $105.00 target price for the company. Evercore ISI dropped their price target on shares of Abbott Laboratories to $110.00 in a research report on Thursday, October 20th. Citigroup decreased their price target on Abbott Laboratories from $123.00 to $117.00 in a research report on Wednesday, October 5th. Finally, Raymond James lowered their target price on Abbott Laboratories from $117.00 to $109.00 and set an “outperform” rating for the company in a research note on Friday, October 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.00.

Insider Buying and Selling

In other Abbott Laboratories news, EVP Joseph J. Manning sold 23,008 shares of the business’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $107.00, for a total transaction of $2,461,856.00. Following the completion of the sale, the executive vice president now owns 53,245 shares of the company’s stock, valued at $5,697,215. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Joseph J. Manning sold 23,008 shares of the firm’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $107.00, for a total value of $2,461,856.00. Following the completion of the sale, the executive vice president now directly owns 53,245 shares in the company, valued at $5,697,215. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Daniel J. Starks sold 50,000 shares of the company’s stock in a transaction dated Thursday, October 27th. The stock was sold at an average price of $97.46, for a total transaction of $4,873,000.00. Following the completion of the transaction, the director now owns 6,873,500 shares in the company, valued at $669,891,310. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by corporate insiders.

Abbott Laboratories Trading Up 1.1 %

NYSE ABT traded up $1.15 during trading on Thursday, hitting $106.02. 4,617,639 shares of the company’s stock traded hands, compared to its average volume of 5,289,895. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.86 and a quick ratio of 1.43. Abbott Laboratories has a 12-month low of $93.25 and a 12-month high of $142.60. The stock has a fifty day moving average of $100.84 and a two-hundred day moving average of $106.11. The firm has a market cap of $184.85 billion, a P/E ratio of 23.93, a PEG ratio of 3.96 and a beta of 0.70.

Abbott Laboratories (NYSE:ABTGet Rating) last announced its earnings results on Wednesday, October 19th. The healthcare product maker reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.21. Abbott Laboratories had a net margin of 17.52% and a return on equity of 27.79%. The firm had revenue of $10.41 billion for the quarter, compared to analyst estimates of $9.65 billion. During the same quarter in the previous year, the firm posted $1.40 EPS. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year. As a group, sell-side analysts expect that Abbott Laboratories will post 5.21 EPS for the current year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 15th. Stockholders of record on Friday, October 14th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Thursday, October 13th. This represents a $1.88 annualized dividend and a dividend yield of 1.77%. Abbott Laboratories’s payout ratio is 42.44%.

About Abbott Laboratories

(Get Rating)

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 Established Pharmaceutical Products segment 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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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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