Tsfg LLC Cuts Stock Position in Abbott Laboratories (NYSE:ABT)

by · The Cerbat Gem

Tsfg LLC trimmed its position in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 2.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 103,800 shares of the healthcare product maker’s stock after selling 2,261 shares during the period. Abbott Laboratories comprises 2.8% of Tsfg LLC’s holdings, making the stock its 9th biggest holding. Tsfg LLC’s holdings in Abbott Laboratories were worth $13,769,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in ABT. LaFleur & Godfrey LLC grew its stake in Abbott Laboratories by 23.5% in the 4th quarter. LaFleur & Godfrey LLC now owns 82,443 shares of the healthcare product maker’s stock worth $9,325,000 after acquiring an additional 15,692 shares in the last quarter. Brighton Jones LLC grew its stake in Abbott Laboratories by 10.1% in the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker’s stock worth $5,850,000 after acquiring an additional 4,755 shares in the last quarter. Bank Pictet & Cie Europe AG grew its stake in Abbott Laboratories by 1.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker’s stock worth $17,274,000 after acquiring an additional 2,774 shares in the last quarter. Whipplewood Advisors LLC bought a new position in Abbott Laboratories in the 4th quarter worth about $66,000. Finally, Nwam LLC grew its stake in Abbott Laboratories by 16.1% in the 4th quarter. Nwam LLC now owns 23,920 shares of the healthcare product maker’s stock worth $2,706,000 after acquiring an additional 3,323 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ABT has been the topic of a number of research analyst reports. Leerink Partnrs upgraded shares of Abbott Laboratories to a “hold” rating in a research note on Monday, June 16th. Stifel Nicolaus upped their target price on shares of Abbott Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, April 17th. Wells Fargo & Company upped their target price on shares of Abbott Laboratories from $136.00 to $147.00 and gave the stock an “overweight” rating in a research note on Thursday, April 17th. Royal Bank Of Canada upped their price target on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a research report on Thursday, April 17th. Finally, 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 report on Tuesday, March 4th. Six equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $142.61.

View Our Latest Research Report on Abbott Laboratories

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, Director Sally E. Blount sold 2,600 shares of the firm’s stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total value of $337,116.00. Following the completion of the transaction, the director now owns 34,058 shares of the company’s stock, valued at approximately $4,415,960.28. This trade represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.46% of the stock is currently owned by corporate insiders.

Abbott Laboratories Trading Up 0.5%

NYSE:ABT opened at $134.40 on Friday. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $141.23. The firm has a 50 day moving average of $132.82 and a 200 day moving average of $127.56. The company has a quick ratio of 1.27, a current ratio of 1.78 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $233.83 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 2.54 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT – Get Free Report) last posted its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. Abbott Laboratories had a net margin of 31.89% and a return on equity of 19.01%. The company had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.38 billion. As a group, sell-side analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, July 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.76%. Abbott Laboratories’s payout ratio is 30.61%.

About Abbott Laboratories

(Free Report)

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.

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