Duncker Streett & Co. Inc. Decreases Stake in Abbott Laboratories (NYSE:ABT)

Duncker Streett & Co. Inc. reduced its position in Abbott Laboratories (NYSE:ABT) by 1.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,827 shares of the healthcare product maker’s stock after selling 712 shares during the period. Duncker Streett & Co. Inc.’s holdings in Abbott Laboratories were worth $4,752,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Three Seasons Wealth LLC bought a new stake in shares of Abbott Laboratories in the 4th quarter valued at approximately $1,428,000. Kelly Financial Services LLC bought a new stake in shares of Abbott Laboratories in the 1st quarter valued at approximately $216,000. Voleon Capital Management LP bought a new stake in shares of Abbott Laboratories in the 4th quarter valued at approximately $273,000. Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of Abbott Laboratories by 5.5% in the 4th 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 purchasing an additional 57,499 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG lifted its stake in shares of Abbott Laboratories by 1.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker’s stock valued at $17,274,000 after purchasing an additional 2,774 shares during the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on ABT. Jefferies Financial Group raised their price objective on Abbott Laboratories from $135.00 to $137.00 and gave the company a “hold” rating in a research note on Thursday, April 17th. Barclays raised their price objective on Abbott Laboratories from $158.00 to $159.00 and gave the company an “overweight” rating in a research note on Thursday, April 17th. Wells Fargo & Company raised their price objective on Abbott Laboratories from $136.00 to $147.00 and gave the company an “overweight” rating in a research note on Thursday, April 17th. Bank of America increased their price target on Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Finally, Raymond James Financial increased their price target on Abbott Laboratories from $132.00 to $142.00 and gave the stock an “outperform” rating in a report on Thursday, April 17th. Six equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $142.61.

Insider Buying and Selling

In related news, Director Sally E. Blount sold 2,600 shares of the company’s 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 transaction, the director now owns 34,058 shares of the company’s stock, valued at approximately $4,415,960.28. This represents a 7.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.46% of the stock is currently owned by insiders.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $132.88 on Monday. The stock has a market cap of $231.20 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 2.53 and a beta of 0.73. The business has a 50-day simple moving average of $132.19 and a 200-day simple moving average of $127.03. The company has a quick ratio of 1.27, a current ratio of 1.78 and a debt-to-equity ratio of 0.26. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $141.23.

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

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors 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 dividend on an annualized basis and a yield of 1.78%. Abbott Laboratories’s payout ratio is 30.61%.

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.