Lee Danner & Bass Inc. Lowers Stock Holdings in Abbott Laboratories (NYSE:ABT)

Lee Danner & Bass Inc. trimmed its stake in shares of Abbott Laboratories (NYSE:ABT) by 7.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,019 shares of the healthcare product maker’s stock after selling 2,725 shares during the quarter. Lee Danner & Bass Inc.’s holdings in Abbott Laboratories were worth $4,380,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Redwood Park Advisors LLC acquired a new stake in shares of Abbott Laboratories in the 4th quarter worth $25,000. JCIC Asset Management Inc. acquired a new stake in Abbott Laboratories in the first quarter valued at about $32,000. WealthTrak Capital Management LLC purchased a new stake in Abbott Laboratories in the 4th quarter valued at approximately $28,000. Rialto Wealth Management LLC acquired a new position in Abbott Laboratories during the 4th quarter worth approximately $29,000. Finally, Redmont Wealth Advisors LLC purchased a new position in shares of Abbott Laboratories during the 1st quarter worth approximately $34,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ABT. Leerink Partnrs upgraded Abbott Laboratories to a “hold” rating in a research note on Monday, June 16th. Royal Bank Of Canada upped their price target on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a research note on Thursday, April 17th. Piper Sandler reiterated an “overweight” rating and issued a $145.00 price objective (up previously from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. Leerink Partners began coverage on shares of Abbott Laboratories in a research report on Monday, June 16th. They set a “market perform” rating and a $143.00 target price on the stock. Finally, Wells Fargo & Company lifted their price target on shares of Abbott Laboratories from $136.00 to $147.00 and gave the company an “overweight” rating in a research report on Thursday, April 17th. Six equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $142.61.

Abbott Laboratories Trading Down 0.3%

Abbott Laboratories stock opened at $133.70 on Friday. The stock has a 50-day moving average price of $133.29 and a 200 day moving average price of $128.41. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $141.23. The stock has a market cap of $232.61 billion, a PE ratio of 17.34, a P/E/G ratio of 2.55 and a beta of 0.73. The company has a current ratio of 1.78, a quick ratio of 1.27 and a debt-to-equity ratio of 0.26.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. The business 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%. Equities research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be issued a dividend of $0.59 per share. The ex-dividend date is Tuesday, July 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.77%. Abbott Laboratories’s payout ratio is currently 30.61%.

Insider Activity

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total transaction of $337,116.00. Following the transaction, the director owned 34,058 shares of the company’s stock, valued at $4,415,960.28. This trade represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.46% 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.