Integrated Advisors Network LLC Has $2.30 Million Position in Abbott Laboratories (NYSE:ABT)

Integrated Advisors Network LLC reduced its stake in Abbott Laboratories (NYSE:ABT) by 8.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 20,875 shares of the healthcare product maker’s stock after selling 1,868 shares during the quarter. Integrated Advisors Network LLC’s holdings in Abbott Laboratories were worth $2,298,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ABT. Perigon Wealth Management LLC increased its position in Abbott Laboratories by 5.2% in the 4th quarter. Perigon Wealth Management LLC now owns 47,080 shares of the healthcare product maker’s stock worth $5,182,000 after buying an additional 2,317 shares during the period. Sanibel Captiva Trust Company Inc. bought a new position in Abbott Laboratories in the 4th quarter worth approximately $16,764,000. VisionPoint Advisory Group LLC increased its position in Abbott Laboratories by 7.4% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 3,106 shares of the healthcare product maker’s stock worth $301,000 after buying an additional 215 shares during the period. Gradient Investments LLC increased its position in Abbott Laboratories by 4.7% in the 4th quarter. Gradient Investments LLC now owns 257,508 shares of the healthcare product maker’s stock worth $28,344,000 after buying an additional 11,508 shares during the period. Finally, BKM Wealth Management LLC bought a new position in Abbott Laboratories in the 4th quarter worth approximately $2,111,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Price Performance

Abbott Laboratories stock traded up $0.23 on Friday, reaching $103.68. The company’s stock had a trading volume of 3,683,145 shares, compared to its average volume of 5,678,494. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.11 and a current ratio of 1.60. The company has a market cap of $180.36 billion, a price-to-earnings ratio of 32.30, a PEG ratio of 2.49 and a beta of 0.74. The business’s fifty day moving average price is $105.66 and its 200 day moving average price is $110.10. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.02. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.96%. The business had revenue of $9.96 billion for the quarter, compared to analyst estimates of $9.88 billion. During the same quarter in the prior year, the firm posted $1.03 earnings per share. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. Equities analysts expect that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.12%. Abbott Laboratories’s payout ratio is 68.54%.

Analyst Upgrades and Downgrades

ABT has been the topic of a number of research reports. Evercore ISI boosted their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. The Goldman Sachs Group initiated coverage on Abbott Laboratories in a research report on Thursday, May 30th. They set a “buy” rating and a $121.00 price objective on the stock. Raymond James restated a “buy” rating and set a $124.00 price objective on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Barclays lowered their price objective on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a research report on Monday, April 22nd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $125.00 price objective on shares of Abbott Laboratories in a research report on Tuesday, June 4th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $120.64.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, EVP Lisa D. Earnhardt sold 22,852 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total value of $2,428,025.00. Following the transaction, the executive vice president now owns 61,462 shares of the company’s stock, valued at $6,530,337.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Jr. Robert E. Funck sold 10,097 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 211,341 shares in the company, valued at $22,099,928.37. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Lisa D. Earnhardt sold 22,852 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total value of $2,428,025.00. Following the transaction, the executive vice president now owns 61,462 shares of the company’s stock, valued at $6,530,337.50. The disclosure for this sale can be found here. Insiders own 1.10% 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.