Abbott Laboratories (NYSE:ABT) Shares Sold by Townsquare Capital LLC

Townsquare Capital LLC lowered its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 5.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 343,321 shares of the healthcare product maker's stock after selling 21,568 shares during the quarter. Townsquare Capital LLC's holdings in Abbott Laboratories were worth $38,833,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ABT. Morse Asset Management Inc purchased a new stake in Abbott Laboratories in the 3rd quarter worth approximately $380,000. Tudor Financial Inc. purchased a new stake in shares of Abbott Laboratories during the third quarter worth about $302,000. Anchor Investment Management LLC grew its holdings in Abbott Laboratories by 2.9% during the 3rd quarter. Anchor Investment Management LLC now owns 54,237 shares of the healthcare product maker's stock valued at $6,184,000 after buying an additional 1,509 shares in the last quarter. Fulcrum Equity Management bought a new stake in Abbott Laboratories in the 3rd quarter valued at $239,000. Finally, Wilmington Savings Fund Society FSB increased its holdings in shares of Abbott Laboratories by 32.6% in the third quarter. Wilmington Savings Fund Society FSB now owns 332,189 shares of the healthcare product maker's stock worth $37,873,000 after purchasing an additional 81,669 shares during the last quarter. Institutional investors own 75.18% of the company's stock.

Abbott Laboratories Stock Down 1.5 %

Shares of ABT traded down $1.88 during midday trading on Tuesday, reaching $126.08. 8,635,648 shares of the stock were exchanged, compared to its average volume of 6,031,187. The company has a market capitalization of $218.67 billion, a P/E ratio of 16.48, a PEG ratio of 2.52 and a beta of 0.80. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $141.23. The company's 50 day moving average is $130.62 and its two-hundred day moving average is $121.54.

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Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, meeting analysts' consensus estimates of $1.34. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The business had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $11.03 billion. During the same quarter last year, the firm posted $1.19 EPS. The company's revenue for the quarter was up 7.2% on a year-over-year basis. On average, sell-side analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $2.36 annualized dividend and a yield of 1.87%. Abbott Laboratories's dividend payout ratio (DPR) is presently 30.85%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ABT. The Goldman Sachs Group upped their price objective on Abbott Laboratories from $138.00 to $154.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Barclays reissued an "overweight" rating and issued a $158.00 price objective (up from $149.00) on shares of Abbott Laboratories in a research note on Monday, January 27th. StockNews.com lowered Abbott Laboratories from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, February 12th. Evercore ISI raised their price objective on Abbott Laboratories to $136.00 and gave the company a "buy" rating in a research note on Thursday, January 2nd. Finally, Bank of America boosted their target price on Abbott Laboratories from $133.00 to $150.00 and gave the company a "buy" rating in a research report on Monday, March 10th. Four equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $137.94.

Insider Activity

In other news, EVP Lisa D. Earnhardt sold 91,167 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $133.82, for a total transaction of $12,199,967.94. Following the completion of the sale, the executive vice president now owns 71,928 shares in the company, valued at approximately $9,625,404.96. This represents a 55.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the firm's stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $128.50, for a total value of $3,054,573.50. Following the completion of the sale, the executive vice president now directly owns 125,697 shares of the company's stock, valued at $16,152,064.50. The trade was a 15.90 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 116,449 shares of company stock worth $15,463,316. 0.46% of the stock is currently owned by company insiders.

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.