Institute for Wealth Management LLC. Sells 263 Shares of Abbott Laboratories (NYSE:ABT)

Institute for Wealth Management LLC. cut its stake in shares of Abbott Laboratories (NYSE:ABT) by 2.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,046 shares of the healthcare product maker’s stock after selling 263 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Abbott Laboratories were worth $940,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Alliance Wealth Advisors LLC UT grew its stake in Abbott Laboratories by 0.4% during the fourth quarter. Alliance Wealth Advisors LLC UT now owns 25,085 shares of the healthcare product maker’s stock worth $2,761,000 after buying an additional 92 shares during the last quarter. Wynn Capital LLC boosted its holdings in shares of Abbott Laboratories by 2.9% in the 1st quarter. Wynn Capital LLC now owns 3,427 shares of the healthcare product maker’s stock worth $390,000 after acquiring an additional 98 shares in the last quarter. Berger Financial Group Inc grew its position in Abbott Laboratories by 3.0% during the 4th quarter. Berger Financial Group Inc now owns 3,423 shares of the healthcare product maker’s stock worth $377,000 after acquiring an additional 99 shares during the last quarter. Duff & Phelps Investment Management Co. raised its position in Abbott Laboratories by 0.5% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 19,280 shares of the healthcare product maker’s stock valued at $2,122,000 after purchasing an additional 100 shares during the last quarter. Finally, Bfsg LLC boosted its stake in Abbott Laboratories by 21.4% in the first quarter. Bfsg LLC now owns 567 shares of the healthcare product maker’s stock worth $64,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

ABT has been the subject of a number of research analyst reports. Edward Jones cut Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Barclays upped their target price on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Citigroup raised their price target on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a report on Thursday. 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. Finally, Royal Bank of Canada restated an “outperform” rating and set a $125.00 target price on shares of Abbott Laboratories in a research report on Tuesday, June 4th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average price target of $121.80.

Abbott Laboratories Trading Up 0.5 %

Abbott Laboratories stock traded up $0.59 during mid-day trading on Friday, hitting $112.69. 4,511,637 shares of the company’s stock were exchanged, compared to its average volume of 5,979,149. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64. The company has a quick ratio of 1.11, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $196.04 billion, a P/E ratio of 35.11, a PEG ratio of 2.74 and a beta of 0.72. The company’s 50 day simple moving average is $106.15 and its 200-day simple moving average is $108.71.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.04. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The business had revenue of $10.38 billion for the quarter, compared to analysts’ expectations of $10.37 billion. During the same quarter in the previous year, the business posted $1.08 EPS. Abbott Laboratories’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, equities analysts anticipate that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, July 15th were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Monday, July 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.95%. Abbott Laboratories’s payout ratio is 68.54%.

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.