EverSource Wealth Advisors LLC Decreases Stake in Abbott Laboratories (NYSE:ABT)

EverSource Wealth Advisors LLC reduced its stake in Abbott Laboratories (NYSE:ABT) by 37.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,864 shares of the healthcare product maker’s stock after selling 7,636 shares during the period. EverSource Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $1,706,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Cim LLC grew its position in shares of Abbott Laboratories by 0.4% in the 4th quarter. Cim LLC now owns 16,967 shares of the healthcare product maker’s stock worth $1,919,000 after buying an additional 73 shares during the last quarter. Consilium Wealth Advisory LLC grew its position in shares of Abbott Laboratories by 2.1% in the 1st quarter. Consilium Wealth Advisory LLC now owns 3,822 shares of the healthcare product maker’s stock worth $507,000 after buying an additional 78 shares during the last quarter. Mayflower Financial Advisors LLC grew its position in shares of Abbott Laboratories by 0.5% in the 1st quarter. Mayflower Financial Advisors LLC now owns 17,327 shares of the healthcare product maker’s stock worth $2,298,000 after buying an additional 78 shares during the last quarter. Opes Wealth Management LLC grew its position in shares of Abbott Laboratories by 2.9% in the 1st quarter. Opes Wealth Management LLC now owns 2,854 shares of the healthcare product maker’s stock worth $379,000 after buying an additional 80 shares during the last quarter. Finally, Lcnb Corp grew its position in shares of Abbott Laboratories by 0.5% in the 1st quarter. Lcnb Corp now owns 15,917 shares of the healthcare product maker’s stock worth $2,111,000 after buying an additional 80 shares during the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the business’s stock in a transaction 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 completion of the transaction, the chief financial officer owned 51,003 shares in the company, valued at $6,862,453.65. The trade was a 9.81% decrease in their ownership of the stock. The transaction 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 corporate insiders.

Abbott Laboratories Trading Up 1.8%

Abbott Laboratories stock opened at $131.66 on Friday. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. The business’s fifty day simple moving average is $131.40 and its two-hundred day simple moving average is $131.18. Abbott Laboratories has a 12 month low of $110.33 and a 12 month high of $141.23. The company has a market capitalization of $229.15 billion, a price-to-earnings ratio of 16.50, a price-to-earnings-growth ratio of 2.45 and a beta of 0.70.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, hitting the consensus estimate of $1.26. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%. The firm had revenue of $11.14 billion during the quarter, compared to analysts’ expectations of $11.01 billion. During the same quarter in the previous year, the business earned $1.14 earnings per share. The company’s revenue was up 7.4% on a year-over-year basis. As a group, equities analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ABT. Evercore ISI lifted their price objective on Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 8th. William Blair upgraded Abbott Laboratories to a “strong-buy” rating in a research report on Thursday, July 17th. Royal Bank Of Canada lifted their price target on Abbott Laboratories from $145.00 to $147.00 and gave the company an “outperform” rating in a research report on Tuesday, July 15th. Wells Fargo & Company dropped 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. Finally, Raymond James Financial dropped their price target 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. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.47.

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.