Abbott Laboratories (NYSE:ABT) Shares Sold by JustInvest LLC

JustInvest LLC trimmed its stake in shares of Abbott Laboratories (NYSE:ABT) by 14.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,730 shares of the healthcare product maker’s stock after selling 4,839 shares during the quarter. JustInvest LLC’s holdings in Abbott Laboratories were worth $3,331,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in ABT. 4Thought Financial Group Inc. acquired a new stake in shares of Abbott Laboratories during the 2nd quarter worth approximately $25,000. Holloway Wealth Management LLC raised its position in shares of Abbott Laboratories by 150.0% during the 2nd quarter. Holloway Wealth Management LLC now owns 250 shares of the healthcare product maker’s stock worth $29,000 after purchasing an additional 150 shares during the period. Sierra Capital LLC acquired a new stake in shares of Abbott Laboratories during the 1st quarter worth approximately $30,000. CKW Financial Group acquired a new stake in Abbott Laboratories in the 2nd quarter valued at approximately $36,000. Finally, Isthmus Partners LLC acquired a new stake in Abbott Laboratories in the 2nd quarter valued at approximately $36,000. Institutional investors and hedge funds own 72.05% of the company’s stock.

Shares of ABT traded down $0.49 during trading hours on Friday, hitting $126.95. 104,828 shares of the company were exchanged, compared to its average volume of 5,362,195. The company has a market capitalization of $225.06 billion, a PE ratio of 35.90, a PEG ratio of 2.45 and a beta of 0.66. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.79 and a quick ratio of 1.36. The firm has a fifty day simple moving average of $123.39 and a 200-day simple moving average of $119.41. Abbott Laboratories has a one year low of $100.34 and a one year high of $129.70.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, July 21st. The healthcare product maker reported $1.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.15. Abbott Laboratories had a return on equity of 26.75% and a net margin of 15.85%. The business had revenue of $10.22 billion during the quarter, compared to analysts’ expectations of $9.67 billion. During the same quarter last year, the firm posted $0.57 earnings per share. Abbott Laboratories’s revenue was up 41.2% compared to the same quarter last year. Sell-side analysts expect that Abbott Laboratories will post 4.42 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 15th. Investors of record on Friday, October 15th will be issued a dividend of $0.45 per share. The ex-dividend date is Thursday, October 14th. This represents a $1.80 annualized dividend and a dividend yield of 1.42%. Abbott Laboratories’s dividend payout ratio is 49.32%.

Several research firms recently commented on ABT. Morgan Stanley raised their target price on Abbott Laboratories from $126.00 to $136.00 and gave the company an “overweight” rating in a research report on Friday, July 23rd. Cowen increased their price target on Abbott Laboratories from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Monday, August 23rd. SVB Leerink increased their price target on Abbott Laboratories from $115.00 to $128.00 and gave the company a “market perform” rating in a research note on Tuesday, July 20th. Citigroup reaffirmed a “buy” rating and set a $125.00 price target (down from $138.00) on shares of Abbott Laboratories in a research note on Wednesday, June 2nd. Finally, Raymond James increased their price target on Abbott Laboratories from $116.00 to $128.00 and gave the company an “outperform” rating in a research note on Friday, July 23rd. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Abbott Laboratories presently has an average rating of “Buy” and an average target price of $128.93.

In other news, EVP Andrea F. Wainer sold 14,500 shares of Abbott Laboratories stock in a transaction dated Tuesday, August 17th. The stock was sold at an average price of $125.00, for a total value of $1,812,500.00. Following the transaction, the executive vice president now directly owns 54,282 shares in the company, valued at $6,785,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Randel William Woodgrift sold 6,350 shares of Abbott Laboratories stock in a transaction dated Friday, September 3rd. The stock was sold at an average price of $129.00, for a total value of $819,150.00. Following the completion of the transaction, the senior vice president now owns 50,093 shares in the company, valued at $6,461,997. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 222,883 shares of company stock valued at $27,964,400. 1.50% of the stock is owned by corporate insiders.

Abbott Laboratories Company Profile

Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following segments: Established Pharmaceutical Products, Nutritional Products, Diagnostic Products, and Medical Devices. The Established Pharmaceutical Products segment refers to the international sales of a line of branded generic pharmaceutical products.

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

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