Jmac Enterprises LLC Sells 481 Shares of Abbott Laboratories (NYSE:ABT)

Jmac Enterprises LLC decreased its stake in shares of Abbott Laboratories (NYSE:ABT) by 9.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,608 shares of the healthcare product maker’s stock after selling 481 shares during the period. Jmac Enterprises LLC’s holdings in Abbott Laboratories were worth $611,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ABT. Norges Bank bought a new position in Abbott Laboratories during the fourth quarter valued at approximately $2,373,461,000. T. Rowe Price Investment Management Inc. lifted its position in Abbott Laboratories by 383.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,358,698 shares of the healthcare product maker’s stock valued at $945,453,000 after purchasing an additional 6,628,310 shares during the period. Raymond James Financial Inc. bought a new position in Abbott Laboratories during the fourth quarter valued at approximately $635,056,000. GAMMA Investing LLC lifted its position in Abbott Laboratories by 15,420.4% during the first quarter. GAMMA Investing LLC now owns 5,102,648 shares of the healthcare product maker’s stock valued at $676,866,000 after purchasing an additional 5,069,771 shares during the period. Finally, Capital International Investors lifted its position in Abbott Laboratories by 3.4% during the fourth quarter. Capital International Investors now owns 67,972,953 shares of the healthcare product maker’s stock valued at $7,688,160,000 after purchasing an additional 2,229,026 shares during the period. Institutional investors own 75.18% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. The Goldman Sachs Group upped their target price on shares of Abbott Laboratories from $138.00 to $154.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Morgan Stanley upped their target price on shares of Abbott Laboratories from $117.00 to $127.00 and gave the company an “equal weight” rating in a report on Thursday, April 17th. Piper Sandler reaffirmed an “overweight” rating and set a $145.00 target price (up from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. Leerink Partnrs raised shares of Abbott Laboratories to a “hold” rating in a report on Monday, June 16th. Finally, Bank of America upped their target price on shares of Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a report on Monday, March 10th. Six research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $142.61.

Insider Activity at Abbott Laboratories

In related news, Director Sally E. Blount sold 2,600 shares of the firm’s stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total transaction of $337,116.00. Following the completion of the transaction, the director now directly owns 34,058 shares of the company’s stock, valued at approximately $4,415,960.28. This trade represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.46% of the stock is currently owned by corporate insiders.

Abbott Laboratories Stock Performance

Shares of NYSE ABT opened at $132.88 on Monday. The firm has a fifty day moving average price of $132.19 and a 200-day moving average price of $127.03. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.78 and a quick ratio of 1.27. 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. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23.

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

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be paid a dividend of $0.59 per share. The ex-dividend date is Tuesday, July 15th. This represents a $2.36 annualized dividend 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.