Abbott Laboratories (NYSE:ABT) Shares Sold by Barry Investment Advisors LLC

Barry Investment Advisors LLC trimmed its position in shares of Abbott Laboratories (NYSE:ABT) by 6.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,159 shares of the healthcare product maker’s stock after selling 155 shares during the period. Barry Investment Advisors LLC’s holdings in Abbott Laboratories were worth $245,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Signature Resources Capital Management LLC acquired a new position in Abbott Laboratories during the 4th quarter worth $29,000. Transcendent Capital Group LLC acquired a new position in Abbott Laboratories during the 4th quarter worth $29,000. Richardson Financial Services Inc. acquired a new position in Abbott Laboratories during the 4th quarter worth $29,000. True Wealth Design LLC grew its holdings in Abbott Laboratories by 1,677.8% during the 4th quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock worth $35,000 after acquiring an additional 302 shares in the last quarter. Finally, Rise Advisors LLC bought a new position in shares of Abbott Laboratories in the 4th quarter worth about $37,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Citigroup reduced their price target on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. Royal Bank of Canada restated an “outperform” rating and issued a $125.00 price target on shares of Abbott Laboratories in a research report on Tuesday, June 4th. The Goldman Sachs Group assumed coverage on shares of Abbott Laboratories in a research report on Thursday, May 30th. They issued a “buy” rating and a $121.00 price target on the stock. Raymond James restated a “buy” rating and issued a $124.00 price target on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Finally, Evercore ISI raised their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $120.64.

Abbott Laboratories Stock Performance

NYSE:ABT traded down $0.74 during mid-day trading on Friday, hitting $103.91. The stock had a trading volume of 8,283,577 shares, compared to its average volume of 5,748,477. Abbott Laboratories has a 52 week low of $89.67 and a 52 week high of $121.64. The stock has a market capitalization of $180.76 billion, a price-to-earnings ratio of 32.37, a P/E/G ratio of 2.50 and a beta of 0.74. The company has a 50 day simple moving average of $104.79 and a 200-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.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. The company had revenue of $9.96 billion for the quarter, compared to the consensus estimate of $9.88 billion. During the same period in the previous year, the firm earned $1.03 EPS. Abbott Laboratories’s revenue was up 2.2% on a year-over-year basis. On average, research 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 declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be given a dividend of $0.55 per share. The ex-dividend date is Monday, July 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.12%. Abbott Laboratories’s dividend payout ratio (DPR) is 68.54%.

Insiders Place Their Bets

In other Abbott Laboratories news, EVP Lisa D. Earnhardt sold 22,852 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the sale, the executive vice president now directly owns 61,462 shares in the company, valued at approximately $6,530,337.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Jr. Robert E. Funck sold 10,097 shares of Abbott Laboratories stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $104.57, for a total value of $1,055,843.29. Following the transaction, the executive vice president now owns 211,341 shares of the company’s stock, valued at approximately $22,099,928.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lisa D. Earnhardt sold 22,852 shares of Abbott Laboratories stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 61,462 shares in the company, valued at approximately $6,530,337.50. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

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.