Stokes Family Office LLC Sells 5,973 Shares of Abbott Laboratories (NYSE:ABT)

Stokes Family Office LLC lessened its stake in shares of Abbott Laboratories (NYSE:ABT) by 19.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,763 shares of the healthcare product maker’s stock after selling 5,973 shares during the period. Stokes Family Office LLC’s holdings in Abbott Laboratories were worth $2,726,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. International Assets Investment Management LLC increased its stake in shares of Abbott Laboratories by 14,037.9% during the 4th quarter. International Assets Investment Management LLC now owns 1,349,176 shares of the healthcare product maker’s stock worth $148,504,000 after purchasing an additional 1,339,633 shares during the last quarter. Wellington Management Group LLP increased its position in Abbott Laboratories by 4.3% during the third quarter. Wellington Management Group LLP now owns 31,208,711 shares of the healthcare product maker’s stock worth $3,022,564,000 after buying an additional 1,298,219 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Abbott Laboratories by 30.8% in the third quarter. Envestnet Asset Management Inc. now owns 3,627,373 shares of the healthcare product maker’s stock valued at $351,311,000 after buying an additional 853,997 shares during the period. Grantham Mayo Van Otterloo & Co. LLC lifted its position in shares of Abbott Laboratories by 28.0% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 3,664,856 shares of the healthcare product maker’s stock valued at $354,941,000 after buying an additional 801,191 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Abbott Laboratories by 47.7% during the 3rd quarter. Canada Pension Plan Investment Board now owns 2,423,715 shares of the healthcare product maker’s stock worth $234,737,000 after acquiring an additional 783,090 shares during the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ABT has been the subject of a number of research analyst reports. Raymond James reaffirmed a “buy” rating and set a $124.00 price objective on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Royal Bank of Canada reduced their target price on shares of Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a report on Thursday, April 18th. Barclays lowered their price target on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a report on Monday, April 22nd. Citigroup boosted 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. Finally, Evercore ISI increased their target price on Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and an average target price of $121.50.

Insider Activity at Abbott Laboratories

In other news, EVP Daniel Gesua Sive Salvadori sold 963 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $114,115.50. Following the completion of the transaction, the executive vice president now owns 125,697 shares of the company’s stock, valued at approximately $14,895,094.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, VP John A. Jr. Mccoy sold 472 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $118.50, for a total value of $55,932.00. Following the completion of the transaction, the vice president now owns 18,760 shares of the company’s stock, valued at approximately $2,223,060. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Daniel Gesua Sive Salvadori sold 963 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $114,115.50. Following the sale, the executive vice president now directly owns 125,697 shares in the company, valued at approximately $14,895,094.50. The disclosure for this sale can be found here. Insiders have sold 13,935 shares of company stock valued at $1,670,048 over the last three months. 1.10% of the stock is owned by insiders.

Abbott Laboratories Price Performance

NYSE:ABT traded down $0.04 during trading hours on Friday, reaching $105.88. 3,610,292 shares of the company were exchanged, compared to its average volume of 5,562,046. The business has a 50 day moving average of $112.79 and a 200 day moving average of $108.41. The company has a market capitalization of $183.72 billion, a P/E ratio of 32.98, a P/E/G ratio of 2.56 and a beta of 0.76. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.64 and a quick ratio of 1.16. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64.

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

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a dividend of $0.55 per share. The ex-dividend date is Friday, April 12th. This represents a $2.20 annualized dividend and a dividend yield of 2.08%. Abbott Laboratories’s dividend payout ratio is 68.54%.

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.