Consolidated Portfolio Review Corp Cuts Stock Holdings in Abbott Laboratories (NYSE:ABT)

Consolidated Portfolio Review Corp lessened its holdings in Abbott Laboratories (NYSE:ABT) by 38.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,648 shares of the healthcare product maker’s stock after selling 1,018 shares during the quarter. Consolidated Portfolio Review Corp’s holdings in Abbott Laboratories were worth $219,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Redwood Park Advisors LLC purchased a new position in Abbott Laboratories in the fourth quarter worth $25,000. Noble Wealth Management PBC acquired a new position in shares of Abbott Laboratories during the 4th quarter worth $26,000. NewSquare Capital LLC increased its holdings in shares of Abbott Laboratories by 78.4% in the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock valued at $27,000 after purchasing an additional 105 shares in the last quarter. WealthTrak Capital Management LLC acquired a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $28,000. Finally, Rialto Wealth Management LLC purchased a new stake in Abbott Laboratories during the fourth quarter worth about $29,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of Abbott Laboratories stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total value of $337,116.00. Following the transaction, the director now owns 34,058 shares in the company, valued at $4,415,960.28. This trade represents a 7.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.46% of the stock is owned by insiders.

Analysts Set New Price Targets

ABT has been the subject of a number of research analyst reports. Barclays increased their target price on shares of Abbott Laboratories from $158.00 to $159.00 and gave the company an “overweight” rating in a report on Thursday, April 17th. Bank of America raised their price objective on Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Jefferies Financial Group boosted their target price on Abbott Laboratories from $135.00 to $137.00 and gave the stock a “hold” rating in a research report on Thursday, April 17th. Piper Sandler restated an “overweight” rating and issued a $145.00 price target (up previously from $133.00) on shares of Abbott Laboratories in a research report on Thursday, April 17th. Finally, Leerink Partners began coverage on shares of Abbott Laboratories in a research report on Monday, June 16th. They issued a “market perform” rating and a $143.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.61.

Abbott Laboratories Stock Performance

Shares of ABT opened at $137.46 on Thursday. The company has a market capitalization of $239.16 billion, a price-to-earnings ratio of 17.83, a PEG ratio of 2.62 and a beta of 0.73. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.27 and a current ratio of 1.78. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23. The company’s 50 day simple moving average is $132.69 and its 200 day simple moving average is $127.30.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data 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. The business had revenue of $10.36 billion for 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, sell-side analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

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 given 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 1.72%. Abbott Laboratories’s dividend payout ratio is presently 30.61%.

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.