Abbott Laboratories (NYSE:ABT) Shares Sold by Oak Hill Wealth Advisors LLC

Oak Hill Wealth Advisors LLC trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT) by 3.8% during the first quarter, HoldingsChannel reports. The institutional investor owned 14,374 shares of the healthcare product maker’s stock after selling 571 shares during the quarter. Oak Hill Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $1,907,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Redwood Park Advisors LLC acquired a new position in Abbott Laboratories during the fourth quarter valued at approximately $25,000. Noble Wealth Management PBC acquired a new position in Abbott Laboratories during the fourth quarter valued at approximately $26,000. NewSquare Capital LLC lifted its position in Abbott Laboratories by 78.4% during the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock valued at $27,000 after buying an additional 105 shares in the last quarter. JCIC Asset Management Inc. acquired a new position in Abbott Laboratories during the first quarter valued at approximately $32,000. Finally, WealthTrak Capital Management LLC acquired a new position in Abbott Laboratories during the fourth quarter valued at approximately $28,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Stock Down 0.4%

Shares of NYSE:ABT opened at $137.46 on Thursday. The company has a current ratio of 1.78, a quick ratio of 1.27 and a debt-to-equity ratio of 0.26. The company has a fifty day simple moving average of $132.69 and a 200 day simple moving average of $127.30. The firm has a market cap of $239.16 billion, a PE ratio of 17.83, a price-to-earnings-growth ratio of 2.62 and a beta of 0.73. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $141.23.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. The business had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.38 billion. Abbott Laboratories had a net margin of 31.89% and a return on equity of 19.01%. On average, equities research analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm 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 dividend of $0.59 per share. The ex-dividend date is Tuesday, July 15th. This represents a $2.36 annualized dividend and a yield of 1.72%. Abbott Laboratories’s payout ratio is 30.61%.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the business’s stock in a transaction 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 completion of the sale, the director now owns 34,058 shares in the company, valued at $4,415,960.28. The trade was a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.46% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on ABT. 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 report on Thursday, April 17th. Piper Sandler reiterated an “overweight” rating and set a $145.00 price objective (up previously from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. Citigroup lifted their price objective on shares of Abbott Laboratories from $135.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Stifel Nicolaus lifted their price objective 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. Finally, Barclays lifted their price objective on shares of Abbott Laboratories from $158.00 to $159.00 and gave the company an “overweight” rating in a research note on Thursday, April 17th. Six research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $142.61.

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.