Abbott Laboratories (NYSE:ABT) Shares Sold by Park Place Capital Corp

Park Place Capital Corp decreased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 22.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,304 shares of the healthcare product maker’s stock after selling 1,876 shares during the quarter. Park Place Capital Corp’s holdings in Abbott Laboratories were worth $717,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. O ROURKE & COMPANY Inc increased its holdings in shares of Abbott Laboratories by 5.7% in the 1st quarter. O ROURKE & COMPANY Inc now owns 2,304 shares of the healthcare product maker’s stock worth $262,000 after acquiring an additional 124 shares during the period. Claro Advisors LLC raised its holdings in shares of Abbott Laboratories by 3.6% during the first quarter. Claro Advisors LLC now owns 8,544 shares of the healthcare product maker’s stock valued at $971,000 after buying an additional 297 shares during the last quarter. Kowal Investment Group LLC boosted its position in shares of Abbott Laboratories by 3.6% during the first quarter. Kowal Investment Group LLC now owns 11,843 shares of the healthcare product maker’s stock worth $1,346,000 after buying an additional 417 shares during the period. Wolff Wiese Magana LLC increased its position in Abbott Laboratories by 0.8% in the 1st quarter. Wolff Wiese Magana LLC now owns 17,752 shares of the healthcare product maker’s stock valued at $2,018,000 after acquiring an additional 144 shares during the period. Finally, Diversified Trust Co raised its stake in Abbott Laboratories by 17.8% during the 1st quarter. Diversified Trust Co now owns 55,149 shares of the healthcare product maker’s stock valued at $6,268,000 after acquiring an additional 8,322 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Trading Down 0.7 %

Shares of ABT traded down $0.71 during midday trading on Monday, hitting $103.20. The stock had a trading volume of 4,588,590 shares, compared to its average volume of 5,698,602. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64. The business has a 50-day simple moving average of $104.79 and a two-hundred day simple moving average of $110.12. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.32. The firm has a market cap of $179.53 billion, a P/E ratio of 32.15, a price-to-earnings-growth ratio of 2.50 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.02. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. The firm had revenue of $9.96 billion for the quarter, compared to analysts’ expectations of $9.88 billion. During the same period in the previous year, the company posted $1.03 EPS. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, equities analysts forecast that Abbott Laboratories will post 4.62 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend is Monday, July 15th. Abbott Laboratories’s payout ratio is presently 68.54%.

Analyst Upgrades and Downgrades

ABT has been the topic of a number of recent analyst reports. Citigroup cut their price objective on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. Evercore ISI increased their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Barclays dropped their target price on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a report on Monday, April 22nd. Raymond James reiterated a “buy” rating and set a $124.00 price target on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Finally, The Goldman Sachs Group assumed coverage on Abbott Laboratories in a report on Thursday, May 30th. They issued a “buy” rating and a $121.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $120.64.

Insider Buying and Selling at Abbott Laboratories

In related news, EVP Lisa D. Earnhardt sold 22,852 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the completion of the sale, the executive vice president now directly owns 61,462 shares in the company, valued at $6,530,337.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Abbott Laboratories news, EVP Lisa D. Earnhardt sold 22,852 shares of Abbott Laboratories stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $106.25, for a total value of $2,428,025.00. Following the completion of the sale, the executive vice president now directly owns 61,462 shares in the company, valued at $6,530,337.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jr. Robert E. Funck sold 10,097 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $104.57, for a total transaction of $1,055,843.29. Following the transaction, the executive vice president now owns 211,341 shares in the company, valued at approximately $22,099,928.37. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.

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.