Buffington Mohr McNeal Sells 2,777 Shares of Abbott Laboratories (NYSE:ABT)

by · The Cerbat Gem

Buffington Mohr McNeal trimmed its stake in Abbott Laboratories (NYSE:ABT – Free Report) by 3.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 68,907 shares of the healthcare product maker’s stock after selling 2,777 shares during the quarter. Abbott Laboratories accounts for 1.8% of Buffington Mohr McNeal’s portfolio, making the stock its 22nd biggest holding. Buffington Mohr McNeal’s holdings in Abbott Laboratories were worth $9,140,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of ABT. Three Seasons Wealth LLC bought a new stake in Abbott Laboratories during the 4th quarter valued at about $1,428,000. Kelly Financial Services LLC purchased a new stake in shares of Abbott Laboratories during the first quarter valued at approximately $216,000. Voleon Capital Management LP bought a new stake in shares of Abbott Laboratories during the fourth quarter valued at approximately $273,000. Bank Julius Baer & Co. Ltd Zurich lifted its position in Abbott Laboratories by 5.5% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,095,443 shares of the healthcare product maker’s stock valued at $133,691,000 after acquiring an additional 57,499 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG boosted its stake in Abbott Laboratories by 1.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker’s stock valued at $17,274,000 after purchasing an additional 2,774 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $134.08 on Thursday. 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 50-day simple moving average of $133.11 and a two-hundred day simple moving average of $128.01. The firm has a market capitalization of $233.28 billion, a PE ratio of 17.39, a P/E/G ratio of 2.59 and a beta of 0.73. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $141.23.

Abbott Laboratories (NYSE:ABT – Get Free Report) last released its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.02. Abbott Laboratories had a net margin of 31.89% and a return on equity of 19.01%. The company had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.38 billion. Analysts forecast that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently announced 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. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Tuesday, July 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 30.61%.

Insiders Place Their Bets

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the firm’s stock in a transaction dated 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 directly owned 34,058 shares of the company’s stock, valued at $4,415,960.28. This trade represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ABT. Raymond James Financial upped their price target on Abbott Laboratories from $132.00 to $142.00 and gave the company an “outperform” rating in a report on Thursday, April 17th. Stifel Nicolaus upped their target price on shares of Abbott Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, April 17th. Jefferies Financial Group lifted their price target on shares of Abbott Laboratories from $135.00 to $137.00 and gave the stock a “hold” rating in a research note on Thursday, April 17th. Leerink Partners assumed coverage on shares of Abbott Laboratories in a research report on Monday, June 16th. They set a “market perform” rating and a $143.00 price objective on the stock. Finally, Barclays lifted their target price on shares of Abbott Laboratories from $158.00 to $159.00 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 issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $142.61.

Read Our Latest Stock Analysis on Abbott Laboratories

Abbott Laboratories Company Profile

(Free Report)

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.

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