Abbott Laboratories (NYSE:ABT) Holdings Cut by MONECO Advisors LLC

MONECO Advisors LLC lowered its holdings in Abbott Laboratories (NYSE:ABTGet Rating) by 6.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,635 shares of the healthcare product maker’s stock after selling 171 shares during the period. MONECO Advisors LLC’s holdings in Abbott Laboratories were worth $312,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Lincoln National Corp raised its holdings in shares of Abbott Laboratories by 1.1% during the first quarter. Lincoln National Corp now owns 48,210 shares of the healthcare product maker’s stock valued at $5,706,000 after buying an additional 520 shares during the last quarter. Checchi Capital Advisers LLC raised its holdings in shares of Abbott Laboratories by 5.0% during the first quarter. Checchi Capital Advisers LLC now owns 17,630 shares of the healthcare product maker’s stock valued at $2,087,000 after buying an additional 838 shares during the last quarter. SeaBridge Investment Advisors LLC raised its holdings in shares of Abbott Laboratories by 8.3% during the first quarter. SeaBridge Investment Advisors LLC now owns 3,114 shares of the healthcare product maker’s stock valued at $369,000 after buying an additional 239 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of Abbott Laboratories by 8.7% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 973,051 shares of the healthcare product maker’s stock valued at $115,170,000 after buying an additional 78,102 shares during the last quarter. Finally, AdvisorShares Investments LLC raised its holdings in shares of Abbott Laboratories by 9.3% during the first quarter. AdvisorShares Investments LLC now owns 10,047 shares of the healthcare product maker’s stock valued at $1,189,000 after buying an additional 851 shares during the last quarter. Institutional investors own 73.46% of the company’s stock.

Abbott Laboratories Trading Down 0.4 %

NYSE ABT opened at $109.25 on Friday. Abbott Laboratories has a twelve month low of $101.24 and a twelve month high of $142.60. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.40 and a current ratio of 2.01. The stock has a market cap of $191.32 billion, a price-to-earnings ratio of 22.81, a PEG ratio of 4.06 and a beta of 0.71. The firm’s 50 day moving average price is $109.35 and its two-hundred day moving average price is $115.75.

Abbott Laboratories (NYSE:ABTGet Rating) last posted its quarterly earnings data on Wednesday, July 20th. The healthcare product maker reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.34. Abbott Laboratories had a net margin of 18.78% and a return on equity of 29.38%. The firm had revenue of $11.26 billion for the quarter, compared to analysts’ expectations of $10.37 billion. During the same period in the previous year, the company posted $1.17 EPS. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. Equities analysts anticipate that Abbott Laboratories will post 5 EPS for the current year.

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Friday, July 15th will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date is Thursday, July 14th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 39.25%.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, SVP Fernando Mateus sold 2,457 shares of Abbott Laboratories stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $109.05, for a total transaction of $267,935.85. Following the completion of the sale, the senior vice president now owns 14,503 shares of the company’s stock, valued at approximately $1,581,552.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Abbott Laboratories news, SVP Fernando Mateus sold 2,457 shares of Abbott Laboratories stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $109.05, for a total transaction of $267,935.85. Following the completion of the sale, the senior vice president now owns 14,503 shares of the company’s stock, valued at approximately $1,581,552.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel J. Starks sold 50,000 shares of Abbott Laboratories stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $109.14, for a total transaction of $5,457,000.00. Following the sale, the director now directly owns 6,923,500 shares of the company’s stock, valued at approximately $755,630,790. The disclosure for this sale can be found here. Company insiders own 0.52% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Wolfe Research assumed coverage on shares of Abbott Laboratories in a research note on Tuesday, July 5th. They set an “underperform” rating on the stock. Raymond James lowered their price objective on shares of Abbott Laboratories from $143.00 to $135.00 and set an “outperform” rating on the stock in a research note on Thursday, April 21st. Evercore ISI lowered their price objective on shares of Abbott Laboratories to $112.00 in a research note on Friday, July 22nd. Wells Fargo & Company lowered their price objective on shares of Abbott Laboratories from $155.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday, April 8th. Finally, UBS Group lowered their price objective on shares of Abbott Laboratories from $142.00 to $128.00 and set a “buy” rating on the stock in a research note on Wednesday, July 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $132.46.

Abbott Laboratories Profile

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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 Established Pharmaceutical Products segment 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.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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