Family Legacy Inc. Sells 80 Shares of Abbott Laboratories (NYSE:ABT)

Family Legacy Inc. reduced its holdings in shares of Abbott Laboratories (NYSE:ABT) by 0.9% during the first quarter, HoldingsChannel reports. The firm owned 8,720 shares of the healthcare product maker’s stock after selling 80 shares during the period. Family Legacy Inc.’s holdings in Abbott Laboratories were worth $1,157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Community Financial Services Group LLC lifted its holdings in shares of Abbott Laboratories by 9.8% during the first quarter. Community Financial Services Group LLC now owns 4,628 shares of the healthcare product maker’s stock valued at $614,000 after purchasing an additional 414 shares in the last quarter. Sava Infond d.o.o. lifted its holdings in shares of Abbott Laboratories by 1.8% during the first quarter. Sava Infond d.o.o. now owns 34,440 shares of the healthcare product maker’s stock valued at $4,568,000 after purchasing an additional 610 shares in the last quarter. LaFleur & Godfrey LLC lifted its holdings in shares of Abbott Laboratories by 10.8% during the first quarter. LaFleur & Godfrey LLC now owns 91,351 shares of the healthcare product maker’s stock valued at $12,118,000 after purchasing an additional 8,908 shares in the last quarter. Petros Family Wealth LLC bought a new position in shares of Abbott Laboratories during the first quarter valued at $549,000. Finally, Embree Financial Group lifted its holdings in shares of Abbott Laboratories by 6.3% during the first quarter. Embree Financial Group now owns 28,772 shares of the healthcare product maker’s stock valued at $3,817,000 after purchasing an additional 1,705 shares in the last quarter. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Stock Performance

Shares of ABT opened at $133.26 on Tuesday. The company has a quick ratio of 1.27, a current ratio of 1.78 and a debt-to-equity ratio of 0.26. The business has a 50-day simple moving average of $132.30 and a two-hundred day simple moving average of $127.16. The stock has a market cap of $231.85 billion, a price-to-earnings ratio of 17.28, a PEG ratio of 2.53 and a beta of 0.73. 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 results on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, topping analysts’ consensus estimates 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, analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The firm 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 dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend is Tuesday, July 15th. Abbott Laboratories’s dividend payout ratio is currently 30.61%.

Insider Buying and Selling

In related news, Director Sally E. Blount sold 2,600 shares of the stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total transaction of $337,116.00. Following the completion of the sale, the director now owns 34,058 shares in the company, 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 document filed with the SEC, which can be accessed through this hyperlink. 0.46% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ABT shares. Barclays upped their price target on Abbott Laboratories from $158.00 to $159.00 and gave the company an “overweight” rating in a report on Thursday, April 17th. The Goldman Sachs Group upped their price objective on Abbott Laboratories from $138.00 to $154.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Morgan Stanley upped their price objective on Abbott Laboratories from $117.00 to $127.00 and gave the company an “equal weight” rating in a research report on Thursday, April 17th. Wells Fargo & Company upped their price objective on Abbott Laboratories from $136.00 to $147.00 and gave the company an “overweight” rating in a research report on Thursday, April 17th. Finally, Leerink Partnrs upgraded Abbott Laboratories to a “hold” rating in a research report on Monday, June 16th. Six analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average price target of $142.61.

About Abbott Laboratories

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.