Nwam LLC Sells 5,987 Shares of Abbott Laboratories (NYSE:ABT)

Nwam LLC reduced its stake in Abbott Laboratories (NYSE:ABT) by 48.8% during the 1st quarter, HoldingsChannel reports. The firm owned 6,271 shares of the healthcare product maker’s stock after selling 5,987 shares during the quarter. Nwam LLC’s holdings in Abbott Laboratories were worth $679,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of ABT. BKM Wealth Management LLC bought a new stake in Abbott Laboratories during the 4th quarter worth approximately $1,966,000. OneAscent Financial Services LLC grew its position in Abbott Laboratories by 5.6% during the 4th quarter. OneAscent Financial Services LLC now owns 3,998 shares of the healthcare product maker’s stock worth $440,000 after acquiring an additional 213 shares during the last quarter. Brookstone Capital Management grew its position in Abbott Laboratories by 23.7% during the 4th quarter. Brookstone Capital Management now owns 44,709 shares of the healthcare product maker’s stock worth $4,921,000 after acquiring an additional 8,567 shares during the last quarter. LVM Capital Management Ltd. MI grew its position in Abbott Laboratories by 13.6% during the 4th quarter. LVM Capital Management Ltd. MI now owns 33,325 shares of the healthcare product maker’s stock worth $3,668,000 after acquiring an additional 3,996 shares during the last quarter. Finally, My Legacy Advisors LLC bought a new stake in Abbott Laboratories during the 4th quarter worth approximately $465,000. 75.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related 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 sale, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. In related 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 sale, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lisa D. Earnhardt sold 22,852 shares of Abbott Laboratories stock in a transaction dated Tuesday, May 7th. The shares were 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 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 currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on ABT. Barclays decreased their price target 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. Evercore ISI decreased their price objective on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. The Goldman Sachs Group initiated coverage on Abbott Laboratories in a research report on Thursday, May 30th. They issued a “buy” rating and a $121.00 price objective on the stock. Raymond James reiterated a “buy” rating and issued a $124.00 price objective on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Finally, Citigroup decreased their price objective on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $120.18.

Abbott Laboratories Stock Performance

ABT stock opened at $102.03 on Friday. The business’s fifty day moving average is $103.78 and its 200-day moving average is $109.47. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The company has a market cap of $177.49 billion, a P/E ratio of 31.79, a price-to-earnings-growth ratio of 2.45 and a beta of 0.72. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. The company had revenue of $10.38 billion for the quarter, compared to the consensus estimate of $10.37 billion. Abbott Laboratories had a return on equity of 20.32% and a net margin of 13.65%. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.08 EPS. Equities research analysts forecast that Abbott Laboratories will post 4.65 EPS for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.16%. The ex-dividend date is Monday, July 15th. Abbott Laboratories’s payout ratio is presently 68.54%.

Abbott Laboratories Profile

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.