Larson Financial Group LLC Sells 449 Shares of Abbott Laboratories (NYSE:ABT)

Larson Financial Group LLC cut its position in shares of Abbott Laboratories (NYSE:ABT) by 21.5% during the 4th quarter, HoldingsChannel reports. The firm owned 1,640 shares of the healthcare product maker’s stock after selling 449 shares during the period. Larson Financial Group LLC’s holdings in Abbott Laboratories were worth $180,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Newbridge Financial Services Group Inc. increased its position in Abbott Laboratories by 65.3% during the third quarter. Newbridge Financial Services Group Inc. now owns 762 shares of the healthcare product maker’s stock valued at $74,000 after acquiring an additional 301 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of Abbott Laboratories by 147.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 31,159 shares of the healthcare product maker’s stock valued at $3,018,000 after purchasing an additional 18,546 shares during the last quarter. Strategic Blueprint LLC lifted its stake in shares of Abbott Laboratories by 3.6% in the 3rd quarter. Strategic Blueprint LLC now owns 8,235 shares of the healthcare product maker’s stock valued at $798,000 after purchasing an additional 286 shares during the last quarter. Syntegra Private Wealth Group LLC lifted its stake in shares of Abbott Laboratories by 4.7% in the 3rd quarter. Syntegra Private Wealth Group LLC now owns 12,575 shares of the healthcare product maker’s stock valued at $1,218,000 after purchasing an additional 562 shares during the last quarter. Finally, SS&H Financial Advisors Inc. bought a new stake in shares of Abbott Laboratories in the 3rd quarter valued at approximately $2,805,000. 75.18% of the stock is owned by institutional investors.

Insider Transactions at Abbott Laboratories

In related news, EVP Andrea F. Wainer sold 42,500 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $112.50, for a total value of $4,781,250.00. Following the transaction, the executive vice president now directly owns 65,027 shares in the company, valued at $7,315,537.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Andrea F. Wainer sold 42,500 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $112.50, for a total value of $4,781,250.00. Following the transaction, the executive vice president now directly owns 65,027 shares in the company, valued at $7,315,537.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP John A. Jr. Mccoy sold 472 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $118.50, for a total value of $55,932.00. Following the completion of the transaction, the vice president now owns 18,760 shares in the company, valued at $2,223,060. The disclosure for this sale can be found here. Insiders have sold a total of 56,435 shares of company stock worth $6,451,298 in the last ninety days. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Royal Bank of Canada lowered their price objective on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a research note on Thursday, April 18th. Citigroup raised their price objective on Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Barclays reduced their price target on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a report on Monday. Raymond James reiterated a “buy” rating and issued a $124.00 price target on shares of Abbott Laboratories in a report on Wednesday. Finally, Evercore ISI increased their price target on Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $121.50.

Abbott Laboratories Price Performance

Shares of Abbott Laboratories stock opened at $106.89 on Thursday. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.35. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64. The business has a 50-day moving average price of $113.90 and a 200 day moving average price of $107.97. The firm has a market cap of $185.47 billion, a PE ratio of 33.30, a P/E/G ratio of 2.59 and a beta of 0.74.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.02. Abbott Laboratories had a return on equity of 20.32% and a net margin of 13.96%. The firm had revenue of $9.96 billion during the quarter, compared to analyst estimates of $9.88 billion. During the same quarter in the previous year, the business earned $1.03 EPS. Abbott Laboratories’s revenue for the quarter was up 2.2% compared to the same quarter last year. Sell-side analysts predict that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be paid a dividend of $0.55 per share. The ex-dividend date is Friday, April 12th. This represents a $2.20 annualized dividend and a yield of 2.06%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 68.54%.

About Abbott Laboratories

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.