Beaumont Financial Partners LLC Sells 367 Shares of Abbott Laboratories (NYSE:ABT)

Beaumont Financial Partners LLC reduced its position in shares of Abbott Laboratories (NYSE:ABTGet Rating) by 0.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 108,875 shares of the healthcare product maker’s stock after selling 367 shares during the quarter. Abbott Laboratories accounts for approximately 1.0% of Beaumont Financial Partners LLC’s holdings, making the stock its 27th biggest position. Beaumont Financial Partners LLC’s holdings in Abbott Laboratories were worth $12,891,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ABT. Norges Bank bought a new position in shares of Abbott Laboratories during the 4th quarter valued at approximately $2,290,723,000. BlackRock Inc. grew its stake in shares of Abbott Laboratories by 2.1% during the 4th quarter. BlackRock Inc. now owns 137,155,602 shares of the healthcare product maker’s stock valued at $19,303,283,000 after acquiring an additional 2,836,966 shares during the period. State Street Corp grew its stake in shares of Abbott Laboratories by 2.6% during the 4th quarter. State Street Corp now owns 74,322,051 shares of the healthcare product maker’s stock valued at $10,460,085,000 after acquiring an additional 1,896,462 shares during the period. Nuveen Asset Management LLC grew its stake in shares of Abbott Laboratories by 16.3% during the 4th quarter. Nuveen Asset Management LLC now owns 11,469,313 shares of the healthcare product maker’s stock valued at $1,614,192,000 after acquiring an additional 1,609,489 shares during the period. Finally, First Trust Advisors LP grew its stake in shares of Abbott Laboratories by 208.3% during the 4th quarter. First Trust Advisors LP now owns 2,133,577 shares of the healthcare product maker’s stock valued at $300,280,000 after acquiring an additional 1,441,565 shares during the period. 73.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, Director Daniel J. Starks sold 50,000 shares of the company’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $109.14, for a total value of $5,457,000.00. Following the transaction, the director now owns 6,923,500 shares of the company’s stock, valued at approximately $755,630,790. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Fernando Mateus sold 2,457 shares of the stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $109.05, for a total transaction of $267,935.85. Following the transaction, the senior vice president now owns 14,503 shares of the company’s stock, valued at approximately $1,581,552.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel J. Starks sold 50,000 shares of the stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $109.14, for a total value of $5,457,000.00. Following the transaction, the director now directly owns 6,923,500 shares in the company, valued at approximately $755,630,790. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by corporate insiders.

Abbott Laboratories Trading Down 0.4 %

NYSE:ABT traded down $0.47 during midday trading on Friday, hitting $109.25. 2,789,645 shares of the company traded hands, compared to its average volume of 4,547,563. The firm’s fifty day moving average is $109.35 and its 200-day moving average is $115.75. Abbott Laboratories has a 12-month low of $101.24 and a 12-month high of $142.60. The firm has a market capitalization of $191.32 billion, a P/E ratio of 22.81, a P/E/G ratio of 4.06 and a beta of 0.71. The company has a current ratio of 2.01, a quick ratio of 1.40 and a debt-to-equity ratio of 0.46.

Abbott Laboratories (NYSE:ABTGet Rating) last released its quarterly earnings results on Wednesday, July 20th. The healthcare product maker reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.34. The company had revenue of $11.26 billion for the quarter, compared to analyst estimates of $10.37 billion. Abbott Laboratories had a return on equity of 29.38% and a net margin of 18.78%. Abbott Laboratories’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.17 EPS. On average, sell-side analysts predict that Abbott Laboratories will post 5 EPS for the current year.

Abbott Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Friday, July 15th will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend is Thursday, July 14th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 39.25%.

Analysts Set New Price Targets

A number of research analysts recently commented on ABT shares. BTIG Research lowered their price target on Abbott Laboratories from $130.00 to $126.00 and set a “buy” rating on the stock in a report on Monday, July 18th. Stifel Nicolaus lowered their price target on Abbott Laboratories from $136.00 to $126.00 in a report on Monday, July 18th. Morgan Stanley lowered their price target on Abbott Laboratories from $134.00 to $132.00 and set an “overweight” rating on the stock in a report on Thursday, July 21st. Wells Fargo & Company lowered their price target on Abbott Laboratories from $155.00 to $150.00 and set an “overweight” rating on the stock in a report on Friday, April 8th. Finally, Raymond James lowered their price target on Abbott Laboratories from $143.00 to $135.00 and set an “outperform” rating on the stock in a report on Thursday, April 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $132.46.

About Abbott Laboratories

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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 Established Pharmaceutical Products segment 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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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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