Abbott Laboratories (NYSE:ABT) Shares Sold by MPS Loria Financial Planners LLC

MPS Loria Financial Planners LLC lowered its stake in Abbott Laboratories (NYSE:ABT) by 6.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,282 shares of the healthcare product maker’s stock after selling 1,266 shares during the period. Abbott Laboratories comprises 0.7% of MPS Loria Financial Planners LLC’s investment portfolio, making the stock its 15th biggest position. MPS Loria Financial Planners LLC’s holdings in Abbott Laboratories were worth $2,078,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Signature Resources Capital Management LLC purchased a new position in Abbott Laboratories during the 4th quarter worth approximately $29,000. Richardson Financial Services Inc. purchased a new position in Abbott Laboratories during the 4th quarter worth approximately $29,000. Transcendent Capital Group LLC purchased a new position in Abbott Laboratories during the 4th quarter worth approximately $29,000. True Wealth Design LLC grew its stake 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 buying an additional 302 shares during the last quarter. Finally, Stuart Chaussee & Associates Inc. grew its stake in Abbott Laboratories by 236.0% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 336 shares of the healthcare product maker’s stock worth $37,000 after buying an additional 236 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insiders Place Their Bets

In other Abbott Laboratories news, EVP Jr. Robert E. Funck sold 10,097 shares of the firm’s stock in a transaction on 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 owns 211,341 shares of the company’s stock, valued at $22,099,928.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Lisa D. Earnhardt sold 22,852 shares of Abbott Laboratories stock in a transaction on 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 completion of the sale, the executive vice president now owns 61,462 shares of the company’s stock, valued at $6,530,337.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Jr. Robert E. Funck sold 10,097 shares of Abbott Laboratories stock in a transaction 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 completion of the sale, the executive vice president now directly owns 211,341 shares of the company’s stock, valued at approximately $22,099,928.37. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

Abbott Laboratories Price Performance

ABT stock traded down $0.74 during midday trading on Friday, hitting $103.91. 8,283,577 shares of the stock were exchanged, compared to its average volume of 5,748,477. The stock’s 50-day moving average price is $104.79 and its 200-day moving average price is $110.10. The stock has a market cap of $180.76 billion, a price-to-earnings ratio of 32.37, a PEG ratio of 2.50 and a beta of 0.74. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.11 and a current ratio of 1.60.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.02. The firm had revenue of $9.96 billion during the quarter, compared to analysts’ expectations of $9.88 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.96%. Abbott Laboratories’s revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.03 earnings per share. Research analysts predict that Abbott Laboratories will post 4.62 earnings per share for the current 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. This represents a $2.20 annualized dividend and a yield of 2.12%. The ex-dividend date is Monday, July 15th. Abbott Laboratories’s payout ratio is 68.54%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $125.00 target price on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Citigroup lowered their target price on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. Barclays lowered their target price on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a research note on Monday, April 22nd. Evercore ISI lifted their target price on Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Finally, The Goldman Sachs Group started coverage on Abbott Laboratories in a report on Thursday, May 30th. They issued a “buy” rating and a $121.00 price target for the company. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.64.

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.