Abbott Laboratories (NYSE:ABT) Stock Holdings Lessened by Park Place Capital Corp

Park Place Capital Corp cut its stake in shares of Abbott Laboratories (NYSE:ABT) by 66.8% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 734 shares of the healthcare product maker’s stock after selling 1,480 shares during the period. Park Place Capital Corp’s holdings in Abbott Laboratories were worth $97,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Redwood Park Advisors LLC acquired a new position in shares of Abbott Laboratories in the fourth quarter worth $25,000. Noble Wealth Management PBC acquired a new stake in Abbott Laboratories during the fourth quarter valued at $26,000. NewSquare Capital LLC boosted its position in Abbott Laboratories by 78.4% during the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock valued at $27,000 after purchasing an additional 105 shares during the last quarter. WealthTrak Capital Management LLC acquired a new stake in Abbott Laboratories during the fourth quarter valued at $28,000. Finally, Rialto Wealth Management LLC acquired a new stake in Abbott Laboratories during the fourth quarter valued at $29,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Activity at Abbott Laboratories

In other news, Director Sally E. Blount sold 2,600 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total transaction of $337,116.00. Following the sale, the director now owns 34,058 shares of the company’s stock, valued at approximately $4,415,960.28. This trade represents a 7.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ABT shares. The Goldman Sachs Group lifted 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. Barclays lifted their price objective on Abbott Laboratories from $158.00 to $159.00 and gave the company an “overweight” rating in a research report on Thursday, April 17th. Raymond James Financial lifted 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. Stifel Nicolaus lifted their price objective on Abbott Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. Finally, Wells Fargo & Company boosted their price target on Abbott Laboratories from $136.00 to $147.00 and gave the stock an “overweight” rating in a research report on Thursday, April 17th. Six equities 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, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average price target of $142.61.

Abbott Laboratories Price Performance

NYSE ABT opened at $134.40 on Friday. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $141.23. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.27 and a current ratio of 1.78. The stock has a market capitalization of $233.83 billion, a PE ratio of 17.43, a P/E/G ratio of 2.54 and a beta of 0.73. The stock has a 50-day simple moving average of $132.82 and a 200 day simple moving average of $127.56.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $10.38 billion. Research analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $2.36 annualized dividend and a yield of 1.76%. Abbott Laboratories’s dividend payout ratio is 30.61%.

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.