Abbott Laboratories (NYSE:ABT) Shares Sold by Grandview Asset Management LLC

Grandview Asset Management LLC lessened its holdings in shares of Abbott Laboratories (NYSE:ABT) by 10.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,002 shares of the healthcare product maker’s stock after selling 228 shares during the quarter. Grandview Asset Management LLC’s holdings in Abbott Laboratories were worth $266,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Abbott Laboratories by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 168,645,397 shares of the healthcare product maker’s stock valued at $19,075,481,000 after purchasing an additional 739,260 shares in the last quarter. Capital International Investors grew its stake in Abbott Laboratories by 3.4% during the 4th quarter. Capital International Investors now owns 67,972,953 shares of the healthcare product maker’s stock valued at $7,688,160,000 after purchasing an additional 2,229,026 shares in the last quarter. Capital Research Global Investors grew its position in shares of Abbott Laboratories by 1.5% in the 4th quarter. Capital Research Global Investors now owns 54,097,005 shares of the healthcare product maker’s stock worth $6,118,903,000 after acquiring an additional 795,073 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Abbott Laboratories by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 35,668,834 shares of the healthcare product maker’s stock worth $4,023,027,000 after acquiring an additional 765,636 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Abbott Laboratories by 2.3% in the 4th quarter. Wellington Management Group LLP now owns 26,392,302 shares of the healthcare product maker’s stock worth $2,985,233,000 after acquiring an additional 581,325 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Shares of NYSE:ABT opened at $132.18 on Wednesday. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $141.23. The business has a 50-day moving average of $131.80 and a two-hundred day moving average of $126.62. The stock has a market capitalization of $229.97 billion, a P/E ratio of 17.14, a P/E/G ratio of 2.53 and a beta of 0.73. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.78 and a quick ratio of 1.27.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. The company 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, equities research analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be paid 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 1.79%. Abbott Laboratories’s dividend payout ratio is currently 30.61%.

Insiders Place Their Bets

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the firm’s 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 transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.46% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ABT. Barclays lifted their target price on Abbott Laboratories from $158.00 to $159.00 and gave the stock an “overweight” rating in a research report on Thursday, April 17th. Wells Fargo & Company boosted 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. Raymond James Financial boosted their price objective on Abbott Laboratories from $132.00 to $142.00 and gave the company an “outperform” rating in a research report on Thursday, April 17th. Citigroup boosted their price objective on Abbott Laboratories from $135.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Finally, Leerink Partnrs upgraded Abbott Laboratories to a “hold” rating in a research report on Monday. Six research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $142.61.

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.