HM Payson & Co. Sells 1,124 Shares of Abbott Laboratories (NYSE:ABT)

HM Payson & Co. cut its position in shares of Abbott Laboratories (NYSE:ABT) by 0.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 391,436 shares of the healthcare product maker’s stock after selling 1,124 shares during the period. HM Payson & Co.’s holdings in Abbott Laboratories were worth $51,924,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Three Seasons Wealth LLC bought a new stake in Abbott Laboratories in the fourth quarter valued at $1,428,000. Kelly Financial Services LLC bought a new stake in Abbott Laboratories in the first quarter valued at $216,000. Voleon Capital Management LP bought a new stake in Abbott Laboratories in the fourth quarter valued at $273,000. Bank Julius Baer & Co. Ltd Zurich grew its position in Abbott Laboratories by 5.5% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,095,443 shares of the healthcare product maker’s stock valued at $133,691,000 after acquiring an additional 57,499 shares during the period. Finally, Bank Pictet & Cie Europe AG grew its position in Abbott Laboratories by 1.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker’s stock valued at $17,274,000 after acquiring an additional 2,774 shares during the period. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Trading Down 0.3%

NYSE:ABT opened at $133.70 on Friday. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $141.23. The business’s 50-day moving average price is $133.29 and its two-hundred day moving average price is $128.30. The company has a current ratio of 1.78, a quick ratio of 1.27 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $232.61 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 2.55 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.02. Abbott Laboratories had a return on equity of 19.01% and a net margin of 31.89%. The company had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.38 billion. On average, equities analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.77%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 30.61%.

Analysts Set New Price Targets

ABT has been the topic of several research analyst reports. Jefferies Financial Group increased their target price on Abbott Laboratories from $135.00 to $137.00 and gave the stock a “hold” rating in a report on Thursday, April 17th. Leerink Partners initiated coverage on Abbott Laboratories in a report on Monday, June 16th. They set a “market perform” rating and a $143.00 target price on the stock. Morgan Stanley increased their target price on Abbott Laboratories from $117.00 to $127.00 and gave the stock an “equal weight” rating in a report on Thursday, April 17th. Royal Bank Of Canada increased their target price on Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, April 17th. Finally, Wells Fargo & Company increased their target price on Abbott Laboratories from $136.00 to $147.00 and gave the stock an “overweight” rating in a report on Thursday, April 17th. Six analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $142.61.

Insider Activity

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total value of $337,116.00. Following the completion of the sale, the director directly owned 34,058 shares in the company, valued at $4,415,960.28. This represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.46% of the stock is owned by company insiders.

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.