Abbott Laboratories (NYSE:ABT) Stock Holdings Trimmed by Armstrong Henry H Associates Inc.

Armstrong Henry H Associates Inc. trimmed its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,013 shares of the healthcare product maker’s stock after selling 239 shares during the quarter. Abbott Laboratories comprises 0.2% of Armstrong Henry H Associates Inc.’s portfolio, making the stock its 21st largest position. Armstrong Henry H Associates Inc.’s holdings in Abbott Laboratories were worth $2,495,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Signature Resources Capital Management LLC acquired a new stake in shares of Abbott Laboratories during the 4th quarter worth approximately $29,000. Redmont Wealth Advisors LLC bought a new position in Abbott Laboratories in the 1st quarter worth approximately $30,000. Richardson Financial Services Inc. bought a new position in Abbott Laboratories in the 4th quarter worth approximately $29,000. Transcendent Capital Group LLC bought a new position in Abbott Laboratories in the 4th quarter worth approximately $29,000. Finally, True Wealth Design LLC grew its holdings in Abbott Laboratories by 1,677.8% in the 4th quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock worth $35,000 after buying an additional 302 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Price Performance

Shares of NYSE:ABT traded up $1.16 on Friday, reaching $111.31. 9,885,690 shares of the company traded hands, compared to its average volume of 8,385,752. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64. The company’s 50 day moving average is $104.22 and its 200-day moving average is $109.03. The stock has a market capitalization of $193.67 billion, a PE ratio of 34.68, a P/E/G ratio of 2.74 and a beta of 0.72. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.11.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. The company had revenue of $10.38 billion during the quarter, compared to the consensus estimate of $10.37 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.08 EPS. As a group, analysts anticipate that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be issued a $0.55 dividend. The ex-dividend date is Monday, July 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.98%. Abbott Laboratories’s payout ratio is currently 68.54%.

Analyst Ratings Changes

A number of brokerages recently issued reports on ABT. Raymond James reissued a “buy” rating and issued a $124.00 price objective on shares of Abbott Laboratories in a report on Wednesday, April 24th. Barclays increased their price objective on Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Citigroup decreased their price target on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Evercore ISI decreased their price target on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $125.00 price target on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.00.

Insider Activity

In related news, EVP Jr. Robert E. Funck sold 10,097 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $104.57, for a total transaction of $1,055,843.29. Following the completion of the sale, the executive vice president now directly owns 211,341 shares in the company, valued at $22,099,928.37. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Lisa D. Earnhardt sold 22,852 shares of the stock in a transaction 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 completion of the sale, the executive vice president now directly owns 61,462 shares in the company, valued at $6,530,337.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Jr. Robert E. Funck sold 10,097 shares of the stock in a transaction 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 of the company’s stock, valued at $22,099,928.37. The disclosure for this sale can be found here. Corporate insiders own 1.10% 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.