Procyon Advisors LLC Sells 391 Shares of Abbott Laboratories (NYSE:ABT)

Procyon Advisors LLC trimmed its stake in Abbott Laboratories (NYSE:ABTGet Rating) by 9.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,805 shares of the healthcare product maker’s stock after selling 391 shares during the period. Procyon Advisors LLC’s holdings in Abbott Laboratories were worth $413,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Bourgeon Capital Management LLC purchased a new stake in Abbott Laboratories in the 1st quarter valued at about $30,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of Abbott Laboratories in the 1st quarter worth approximately $30,000. Dravo Bay LLC purchased a new stake in shares of Abbott Laboratories in the 1st quarter worth approximately $32,000. Delos Wealth Advisors LLC lifted its position in shares of Abbott Laboratories by 100.9% in the 4th quarter. Delos Wealth Advisors LLC now owns 231 shares of the healthcare product maker’s stock worth $33,000 after purchasing an additional 116 shares during the period. Finally, Holloway Wealth Management LLC lifted its position in shares of Abbott Laboratories by 175.0% in the 1st quarter. Holloway Wealth Management LLC now owns 275 shares of the healthcare product maker’s stock worth $33,000 after purchasing an additional 175 shares during the period. 73.03% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Up 0.1 %

NYSE:ABT opened at $104.09 on Tuesday. The firm has a market capitalization of $182.28 billion, a P/E ratio of 21.73, a PEG ratio of 3.85 and a beta of 0.72. Abbott Laboratories has a 1-year low of $101.21 and a 1-year high of $142.60. The company’s fifty day moving average price is $107.52 and its 200-day moving average price is $112.06. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.01 and a quick ratio of 1.54.

Abbott Laboratories (NYSE:ABTGet Rating) last released its quarterly earnings data on Wednesday, July 20th. The healthcare product maker reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.34. Abbott Laboratories had a net margin of 18.78% and a return on equity of 29.38%. The firm had revenue of $11.26 billion for the quarter, compared to analyst estimates of $10.37 billion. During the same quarter in the prior year, the business earned $1.17 earnings per share. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Abbott Laboratories will post 4.99 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Friday, October 14th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend is Thursday, October 13th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 39.25%.

Analysts Set New Price Targets

ABT has been the subject of several research reports. Erste Group Bank cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Thursday, August 25th. Stifel Nicolaus lowered their price target on shares of Abbott Laboratories from $136.00 to $126.00 in a research report on Monday, July 18th. BTIG Research reduced their price objective on shares of Abbott Laboratories from $130.00 to $126.00 and set a “buy” rating for the company in a research note on Monday, July 18th. Wolfe Research started coverage on shares of Abbott Laboratories in a research note on Tuesday, July 5th. They set an “underperform” rating for the company. Finally, Evercore ISI reduced their price objective on shares of Abbott Laboratories to $112.00 in a research note on Friday, July 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $132.46.

Insider Buying and Selling

In related news, Director Daniel J. Starks sold 50,000 shares of the stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $109.14, for a total transaction of $5,457,000.00. Following the sale, the director now directly owns 6,923,500 shares of the company’s stock, valued at $755,630,790. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Abbott Laboratories news, Director Daniel J. Starks sold 50,000 shares of the stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $109.14, for a total transaction of $5,457,000.00. Following the transaction, the director now directly owns 6,923,500 shares of the company’s stock, valued at $755,630,790. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Joseph J. Manning sold 23,008 shares of the stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $107.00, for a total transaction of $2,461,856.00. Following the transaction, the executive vice president now directly owns 53,245 shares in the company, valued at $5,697,215. The disclosure for this sale can be found here. Over the last three months, insiders have sold 204,788 shares of company stock valued at $21,776,756. Corporate insiders own 0.52% of the company’s stock.

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.

See Also

Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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