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

Smith Moore & CO. cut its holdings in Abbott Laboratories (NYSE:ABTGet Rating) by 2.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,954 shares of the healthcare product maker’s stock after selling 686 shares during the period. Smith Moore & CO.’s holdings in Abbott Laboratories were worth $3,146,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of Abbott Laboratories during the 1st quarter worth $30,000. Dravo Bay LLC purchased a new stake in shares of Abbott Laboratories in the 1st quarter valued at approximately $32,000. Monumental Financial Group Inc. purchased a new position in shares of Abbott Laboratories during the 1st quarter worth approximately $38,000. WFA of San Diego LLC purchased a new stake in Abbott Laboratories in the second quarter valued at approximately $60,000. Finally, Better Money Decisions LLC acquired a new stake in shares of Abbott Laboratories in the second quarter valued at $82,000. 73.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ABT. Morgan Stanley reduced their price target on shares of Abbott Laboratories from $126.00 to $117.00 and set an “overweight” rating on the stock in a research report on Thursday, October 20th. Royal Bank of Canada reduced their price target on Abbott Laboratories from $132.00 to $126.00 and set an “outperform” rating on the stock in a research report on Thursday, October 20th. Erste Group Bank downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Thursday, August 25th. StockNews.com lowered shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 20th. Finally, Wells Fargo & Company dropped their target price on Abbott Laboratories from $150.00 to $140.00 and set an “overweight” rating on the stock in a report on Monday, October 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average target price of $123.00.

Abbott Laboratories Stock Performance

NYSE ABT traded up $1.15 on Thursday, hitting $106.02. 4,617,639 shares of the company’s stock were exchanged, 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. The firm’s 50-day moving average price is $100.84 and its two-hundred day moving average price is $106.11. The firm has a market cap of $184.85 billion, a price-to-earnings ratio of 23.93, a P/E/G ratio of 3.96 and a beta of 0.70. Abbott Laboratories has a fifty-two week low of $93.25 and a fifty-two week high of $142.60.

Abbott Laboratories (NYSE:ABTGet Rating) last released its quarterly earnings data on Wednesday, October 19th. The healthcare product maker reported $1.15 EPS for the quarter, topping 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 the consensus estimate of $9.65 billion. During the same quarter in the previous year, the firm earned $1.40 earnings per share. The firm’s revenue was down 4.7% on a year-over-year basis. On average, research analysts expect that Abbott Laboratories will post 5.21 EPS for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 15th. Shareholders 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 yield of 1.77%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 42.44%.

Insider Buying and Selling at Abbott Laboratories

In related news, Director Daniel J. Starks sold 50,000 shares of Abbott Laboratories stock in a transaction that occurred on 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 directly owns 6,873,500 shares in the company, valued at approximately $669,891,310. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Abbott Laboratories news, Director Daniel J. Starks sold 50,000 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $669,891,310. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Joseph J. Manning sold 23,008 shares of the company’s stock in a transaction on Thursday, September 8th. The shares were 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 owns 53,245 shares in the company, valued at $5,697,215. The disclosure for this sale can be found here. Insiders own 0.52% of the company’s stock.

Abbott Laboratories Company Profile

(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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