Sara Bay Financial Sells 564 Shares of Abbott Laboratories (NYSE:ABT)

Sara Bay Financial lowered its stake in Abbott Laboratories (NYSE:ABT – Get Rating) by 6.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,237 shares of the healthcare product maker’s stock after selling 564 shares during the quarter. Abbott Laboratories comprises 0.4% of Sara Bay Financial’s portfolio, making the stock its 27th biggest holding. Sara Bay Financial’s holdings in Abbott Laboratories were worth $975,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Capital Investment Advisors LLC raised its stake in Abbott Laboratories by 4.2% during the 4th quarter. Capital Investment Advisors LLC now owns 13,335 shares of the healthcare product maker’s stock valued at $1,877,000 after purchasing an additional 534 shares during the period. Minot Wealth Management LLC raised its stake in Abbott Laboratories by 3.8% during the 4th quarter. Minot Wealth Management LLC now owns 58,450 shares of the healthcare product maker’s stock valued at $8,226,000 after purchasing an additional 2,147 shares during the period. Gradient Investments LLC raised its stake in Abbott Laboratories by 6.2% during the 4th quarter. Gradient Investments LLC now owns 71,707 shares of the healthcare product maker’s stock valued at $10,092,000 after purchasing an additional 4,160 shares during the period. TRH Financial LLC raised its stake in Abbott Laboratories by 23.2% during the 1st quarter. TRH Financial LLC now owns 73,590 shares of the healthcare product maker’s stock valued at $8,710,000 after purchasing an additional 13,864 shares during the period. Finally, Samalin Investment Counsel LLC grew its holdings in Abbott Laboratories by 5.5% during the 4th quarter. Samalin Investment Counsel LLC now owns 3,311 shares of the healthcare product maker’s stock valued at $466,000 after buying an additional 172 shares in the last quarter. 73.46% of the stock is currently owned by institutional investors.

Several equities analysts have weighed in on ABT shares. Royal Bank of Canada cut their price target on Abbott Laboratories from $146.00 to $143.00 and set an “outperform” rating for the company in a report on Thursday, April 21st. Wells Fargo & Company cut their price target on Abbott Laboratories from $155.00 to $150.00 and set an “overweight” rating for the company in a report on Friday, April 8th. Bank of America started coverage on Abbott Laboratories in a report on Tuesday, March 1st. They set a “buy” rating and a $140.00 price target for the company. Citigroup cut their price target on Abbott Laboratories from $154.00 to $125.00 and set a “na” rating for the company in a report on Tuesday, May 17th. Finally, Raymond James dropped their target price on Abbott Laboratories from $143.00 to $135.00 and set an “outperform” rating for the company in a report on Thursday, April 21st. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $140.25.

In other Abbott Laboratories news, Director Daniel J. Starks sold 50,000 shares of Abbott Laboratories stock in a transaction that occurred on Tuesday, May 3rd. The shares were sold at an average price of $113.22, for a total value of $5,661,000.00. Following the transaction, the director now owns 6,973,500 shares in the company, valued at $789,539,670. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Randel William Woodgrift sold 24,000 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, May 4th. The stock was sold at an average price of $113.00, for a total transaction of $2,712,000.00. Following the completion of the transaction, the senior vice president now owns 47,854 shares in the company, valued at approximately $5,407,502. The disclosure for this sale can be found here. Company insiders own 0.52% of the company’s stock.

Shares of NYSE ABT opened at $103.95 on Wednesday. Abbott Laboratories has a 12-month low of $101.24 and a 12-month high of $142.60. The company has a current ratio of 1.85, a quick ratio of 1.40 and a debt-to-equity ratio of 0.48. The stock has a market cap of $182.01 billion, a P/E ratio of 24.12, a PEG ratio of 3.70 and a beta of 0.73. The business’s fifty day simple moving average is $113.22 and its 200-day simple moving average is $121.75.

Abbott Laboratories (NYSE:ABT – Get Rating) last issued its quarterly earnings data on Wednesday, April 20th. The healthcare product maker reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.26. Abbott Laboratories had a return on equity of 28.72% and a net margin of 17.35%. The firm had revenue of $11.90 billion during the quarter, compared to the consensus estimate of $11 billion. During the same period in the previous year, the firm posted $1.32 EPS. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. On average, equities analysts forecast that Abbott Laboratories will post 4.84 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Friday, July 15th will be given a dividend of $0.47 per share. The ex-dividend date is Thursday, July 14th. This represents a $1.88 annualized dividend and a dividend yield of 1.81%. Abbott Laboratories’s payout ratio is 43.62%.

Abbott Laboratories Profile (Get Rating)

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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