Carson Advisory Inc. Sells 83 Shares of Abbott Laboratories (NYSE:ABT)

by · The Markets Daily

Carson Advisory Inc. cut its holdings in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 3.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,725 shares of the healthcare product maker’s stock after selling 83 shares during the period. Carson Advisory Inc.’s holdings in Abbott Laboratories were worth $361,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Redwood Park Advisors LLC bought a new stake in shares of Abbott Laboratories during the fourth quarter worth $25,000. Hughes Financial Services LLC acquired a new position in shares of Abbott Laboratories during the first quarter worth $27,000. WealthTrak Capital Management LLC acquired a new position in shares of Abbott Laboratories during the fourth quarter worth $28,000. Abound Financial LLC acquired a new position in Abbott Laboratories in the first quarter valued at $28,000. Finally, Wormser Freres Gestion acquired a new position in Abbott Laboratories in the fourth quarter valued at $32,000. 75.18% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Sally E. Blount sold 2,600 shares of the company’s stock in a transaction that occurred on Wednesday, April 30th. The shares were 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 in the company, valued at approximately $4,415,960.28. This represents a 7.09% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.46% of the stock is currently owned by insiders.

Abbott Laboratories Trading Down 8.3%

Shares of ABT stock opened at $120.76 on Friday. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $141.23. 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 company has a 50-day simple moving average of $133.17 and a two-hundred day simple moving average of $129.38. The company has a market capitalization of $210.09 billion, a price-to-earnings ratio of 15.66, a PEG ratio of 2.50 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT – Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.26. Abbott Laboratories had a net margin of 31.89% and a return on equity of 19.01%. The business had revenue of $11.14 billion during the quarter, compared to the consensus estimate of $11.01 billion. During the same period in the prior year, the firm posted $1.14 EPS. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. Research analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Tuesday, July 15th. Abbott Laboratories’s payout ratio is 30.61%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ABT. Mizuho boosted their target price on shares of Abbott Laboratories from $130.00 to $140.00 and gave the company a “neutral” rating in a report on Wednesday. Wells Fargo & Company lifted their price target on shares of Abbott Laboratories from $136.00 to $147.00 and gave the company an “overweight” rating in a research note on Thursday, April 17th. Stifel Nicolaus lifted their price target 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. Raymond James Financial lifted their price target on shares of Abbott Laboratories from $132.00 to $142.00 and gave the company an “outperform” rating in a research note on Thursday, April 17th. Finally, Leerink Partners began coverage on shares of Abbott Laboratories in a research note on Monday, June 16th. They issued a “market perform” rating and a $143.00 price target for the company. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus price target of $144.79.

View Our Latest Stock Report on Abbott Laboratories

Abbott Laboratories 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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