Abbott Laboratories (NYSE:ABT) Shares Sold by Leisure Capital Management

Leisure Capital Management cut its holdings in shares of Abbott Laboratories (NYSE:ABTFree Report) by 19.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 9,854 shares of the healthcare product maker’s stock after selling 2,405 shares during the period. Leisure Capital Management’s holdings in Abbott Laboratories were worth $1,085,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of ABT. Stuart Chaussee & Associates Inc. boosted its holdings in Abbott Laboratories by 236.0% in the 4th quarter. Stuart Chaussee & Associates Inc. now owns 336 shares of the healthcare product maker’s stock worth $37,000 after buying an additional 236 shares during the last quarter. Rise Advisors LLC acquired a new stake in Abbott Laboratories in the 4th quarter worth about $37,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in Abbott Laboratories in the 3rd quarter worth about $40,000. Cornerstone Planning Group LLC boosted its holdings in Abbott Laboratories by 79.4% in the 3rd quarter. Cornerstone Planning Group LLC now owns 454 shares of the healthcare product maker’s stock worth $44,000 after buying an additional 201 shares during the last quarter. Finally, Bfsg LLC acquired a new stake in Abbott Laboratories in the 4th quarter worth about $51,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Citigroup lifted their price objective on Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Royal Bank of Canada lowered their price objective on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating on the stock in a report on Thursday, April 18th. Raymond James reissued a “buy” rating and issued a $124.00 target price on shares of Abbott Laboratories in a research note on Wednesday. Barclays decreased their target price on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a research note on Monday, April 22nd. Finally, Evercore ISI raised their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus target price of $121.50.

Read Our Latest Stock Report on ABT

Abbott Laboratories Trading Up 0.6 %

Shares of ABT stock traded up $0.67 during trading on Friday, hitting $107.53. 3,575,566 shares of the stock traded hands, compared to its average volume of 5,219,304. The firm has a market capitalization of $186.58 billion, a P/E ratio of 33.50, a price-to-earnings-growth ratio of 2.57 and a beta of 0.74. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.64 and a quick ratio of 1.16. The firm’s fifty day moving average price is $113.64 and its 200-day moving average price is $108.03. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64.

Abbott Laboratories (NYSE:ABTGet Free Report) last released its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, beating the consensus estimate of $0.96 by $0.02. The firm had revenue of $9.96 billion for the quarter, compared to analyst estimates of $9.88 billion. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.32%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.03 EPS. As a group, research analysts forecast that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date is Friday, April 12th. Abbott Laboratories’s payout ratio is 68.54%.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 42,500 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $112.50, for a total value of $4,781,250.00. Following the sale, the executive vice president now owns 65,027 shares of the company’s stock, valued at $7,315,537.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 963 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $118.50, for a total value of $114,115.50. Following the completion of the transaction, the executive vice president now owns 125,697 shares in the company, valued at $14,895,094.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Andrea F. Wainer sold 42,500 shares of the business’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $112.50, for a total transaction of $4,781,250.00. Following the completion of the transaction, the executive vice president now owns 65,027 shares of the company’s stock, valued at approximately $7,315,537.50. The disclosure for this sale can be found here. Insiders have sold a total of 56,435 shares of company stock valued at $6,451,298 over the last quarter. 1.10% of the stock is owned by company insiders.

About Abbott Laboratories

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abbott Laboratories (NYSE:ABTFree Report).

Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.