Abbott Laboratories (NYSE:ABT) Shares Sold by Boston Family Office LLC

Boston Family Office LLC decreased its position in shares of Abbott Laboratories (NYSE:ABT) by 2.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,114 shares of the healthcare product maker’s stock after selling 1,945 shares during the period. Boston Family Office LLC’s holdings in Abbott Laboratories were worth $11,290,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. American Century Companies Inc. raised its position in Abbott Laboratories by 92.9% in the 1st quarter. American Century Companies Inc. now owns 1,258,863 shares of the healthcare product maker’s stock valued at $166,988,000 after purchasing an additional 606,207 shares in the last quarter. Ethic Inc. raised its position in Abbott Laboratories by 16.0% in the 1st quarter. Ethic Inc. now owns 218,423 shares of the healthcare product maker’s stock valued at $28,764,000 after purchasing an additional 30,147 shares in the last quarter. Element Capital Management LLC acquired a new stake in Abbott Laboratories in the 1st quarter valued at about $2,682,000. Aberdeen Group plc raised its position in Abbott Laboratories by 51.9% in the 1st quarter. Aberdeen Group plc now owns 1,937,848 shares of the healthcare product maker’s stock valued at $256,009,000 after purchasing an additional 662,220 shares in the last quarter. Finally, Horizon Investments LLC raised its position in Abbott Laboratories by 4.2% in the 1st quarter. Horizon Investments LLC now owns 26,494 shares of the healthcare product maker’s stock valued at $3,498,000 after purchasing an additional 1,074 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $134.55, for a total value of $746,752.50. Following the transaction, the chief financial officer directly owned 51,003 shares in the company, valued at approximately $6,862,453.65. This trade represents a 9.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Wells Fargo & Company reduced their price target on Abbott Laboratories from $147.00 to $142.00 and set an “overweight” rating on the stock in a research report on Friday, July 18th. Raymond James Financial cut their target price on Abbott Laboratories from $142.00 to $141.00 and set an “outperform” rating on the stock in a research report on Friday, July 18th. Morgan Stanley raised their target price on Abbott Laboratories from $127.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 15th. Leerink Partnrs raised Abbott Laboratories to a “hold” rating in a research report on Monday, June 16th. Finally, William Blair raised Abbott Laboratories to a “strong-buy” rating in a research report on Thursday, July 17th. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $144.47.

Abbott Laboratories Trading Up 1.8%

NYSE:ABT opened at $131.66 on Friday. The stock’s 50 day moving average price is $131.40 and its 200 day moving average price is $131.18. The company has a market capitalization of $229.15 billion, a PE ratio of 16.50, a P/E/G ratio of 2.45 and a beta of 0.70. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. Abbott Laboratories has a 52-week low of $110.33 and a 52-week high of $141.23.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.26. The firm had revenue of $11.14 billion for the quarter, compared to the consensus estimate of $11.01 billion. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.14 EPS. On average, research analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Tuesday, July 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 29.57%.

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.