PDS Planning Inc Sells 94 Shares of Abbott Laboratories (NYSE:ABT)

PDS Planning Inc trimmed its position in Abbott Laboratories (NYSE:ABT) by 0.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,322 shares of the healthcare product maker’s stock after selling 94 shares during the period. Abbott Laboratories makes up approximately 1.3% of PDS Planning Inc’s portfolio, making the stock its 18th biggest position. PDS Planning Inc’s holdings in Abbott Laboratories were worth $15,563,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in Abbott Laboratories in the 4th quarter valued at $2,373,461,000. T. Rowe Price Investment Management Inc. grew its stake in Abbott Laboratories by 383.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,358,698 shares of the healthcare product maker’s stock valued at $945,453,000 after buying an additional 6,628,310 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Abbott Laboratories during the 4th quarter valued at $635,056,000. GAMMA Investing LLC grew its position in shares of Abbott Laboratories by 15,420.4% in the first quarter. GAMMA Investing LLC now owns 5,102,648 shares of the healthcare product maker’s stock valued at $676,866,000 after purchasing an additional 5,069,771 shares in the last quarter. Finally, Capital International Investors grew its position in shares of Abbott Laboratories by 3.4% in the fourth 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. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insiders Place Their Bets

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total value of $337,116.00. Following the completion of the sale, the director now directly owns 34,058 shares of the company’s stock, valued at $4,415,960.28. This represents a 7.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on ABT. Raymond James Financial upped their price objective on shares of Abbott Laboratories from $132.00 to $142.00 and gave the stock an “outperform” rating in a research report on Thursday, April 17th. Piper Sandler restated an “overweight” rating and set a $145.00 price target (up previously from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. Royal Bank Of Canada upped their target price on Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, April 17th. Leerink Partners assumed coverage on Abbott Laboratories in a report on Monday, June 16th. They set a “market perform” rating and a $143.00 price target for the company. Finally, Bank of America raised their target price on shares of Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Six analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $142.61.

Abbott Laboratories Price Performance

ABT stock opened at $137.46 on Thursday. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $141.23. The stock has a market capitalization of $239.16 billion, a price-to-earnings ratio of 17.83, a price-to-earnings-growth ratio of 2.62 and a beta of 0.73. 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 stock’s fifty day simple moving average is $132.69 and its 200-day simple moving average is $127.30.

Abbott Laboratories (NYSE:ABT) last posted 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. Abbott Laboratories had a return on equity of 19.01% and a net margin of 31.89%. The business had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.38 billion. Equities research analysts expect 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 will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $2.36 annualized dividend and a yield of 1.72%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 30.61%.

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.