Abbott Laboratories (NYSE:ABT) Shares Sold by Insight Wealth Partners LLC

Insight Wealth Partners LLC reduced its holdings in Abbott Laboratories (NYSE:ABT) by 7.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,564 shares of the healthcare product maker’s stock after selling 216 shares during the period. Insight Wealth Partners LLC’s holdings in Abbott Laboratories were worth $266,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ABT. Signature Resources Capital Management LLC acquired a new position in shares of Abbott Laboratories in the 4th quarter valued at $29,000. Transcendent Capital Group LLC purchased a new stake in shares of Abbott Laboratories during the 4th quarter worth about $29,000. Richardson Financial Services Inc. acquired a new stake in shares of Abbott Laboratories during the 4th quarter valued at about $29,000. Redmont Wealth Advisors LLC purchased a new position in shares of Abbott Laboratories in the 1st quarter valued at about $30,000. Finally, True Wealth Design LLC raised its stake in shares of Abbott Laboratories by 1,677.8% during 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 during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Trading Up 0.1 %

Shares of ABT traded up $0.06 during midday trading on Friday, reaching $111.00. The company had a trading volume of 4,643,293 shares, compared to its average volume of 6,033,353. The firm has a 50 day simple moving average of $105.47 and a 200-day simple moving average of $108.79. The company has a quick ratio of 1.11, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. The stock has a market cap of $193.10 billion, a PE ratio of 34.58, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64.

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

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, July 15th were paid a dividend of $0.55 per share. The ex-dividend date was Monday, July 15th. This represents a $2.20 annualized dividend and a yield of 1.98%. Abbott Laboratories’s dividend payout ratio (DPR) is 68.54%.

Wall Street Analyst Weigh In

ABT has been the subject of a number of research analyst reports. Evercore ISI reduced their price objective on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. The Goldman Sachs Group started coverage on shares of Abbott Laboratories in a research note on Thursday, May 30th. They issued a “buy” rating and a $121.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $125.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Barclays raised their target price on Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Finally, Edward Jones downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $121.00.

Abbott Laboratories Company 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.