TrinityPoint Wealth LLC Decreases Stake in Abbott Laboratories (NYSE:ABT)

TrinityPoint Wealth LLC lowered its holdings in Abbott Laboratories (NYSE:ABT) by 11.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,938 shares of the healthcare product maker’s stock after selling 995 shares during the quarter. TrinityPoint Wealth LLC’s holdings in Abbott Laboratories were worth $703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Manchester Financial Inc. purchased a new position in shares of Abbott Laboratories in the second quarter worth $30,000. Front Row Advisors LLC increased its position in Abbott Laboratories by 790.9% during the first quarter. Front Row Advisors LLC now owns 392 shares of the healthcare product maker’s stock valued at $31,000 after acquiring an additional 348 shares during the last quarter. Weaver Consulting Group purchased a new stake in Abbott Laboratories during the first quarter valued at $33,000. Beacon Capital Management Inc. purchased a new stake in Abbott Laboratories during the first quarter valued at $38,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Abbott Laboratories during the second quarter valued at $42,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

In other Abbott Laboratories news, Director Sally E. Blount sold 2,500 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $87.65, for a total transaction of $219,125.00. Following the completion of the sale, the director now owns 26,266 shares of the company’s stock, valued at $2,302,214.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Daniel Gesua Sive Salvadori sold 7,269 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $82.00, for a total value of $596,058.00. Following the sale, the executive vice president now directly owns 99,479 shares of the company’s stock, valued at approximately $8,157,278. The disclosure for this sale can be found here. Insiders have sold 435,040 shares of company stock valued at $37,121,747 in the last three months. 0.70% of the stock is currently owned by corporate insiders.

NYSE:ABT traded down $1.56 during mid-day trading on Friday, hitting $82.81. 1,103,829 shares of the company traded hands, compared to its average volume of 4,808,151. The stock’s fifty day moving average price is $85.89 and its 200-day moving average price is $80.07. Abbott Laboratories has a one year low of $65.22 and a one year high of $88.76. The company has a quick ratio of 1.20, a current ratio of 1.68 and a debt-to-equity ratio of 0.60. The firm has a market cap of $149.42 billion, a price-to-earnings ratio of 28.75, a price-to-earnings-growth ratio of 2.38 and a beta of 1.12.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, July 17th. The healthcare product maker reported $0.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.02. Abbott Laboratories had a return on equity of 17.26% and a net margin of 9.36%. The business had revenue of $7.98 billion during the quarter, compared to analyst estimates of $8 billion. During the same quarter in the previous year, the company posted $0.73 earnings per share. Abbott Laboratories’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities analysts predict that Abbott Laboratories will post 3.24 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, July 15th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.55%. The ex-dividend date was Friday, July 12th. Abbott Laboratories’s dividend payout ratio is presently 44.44%.

A number of analysts recently commented on ABT shares. Zacks Investment Research cut Abbott Laboratories from a “buy” rating to a “hold” rating and set a $93.00 price objective for the company. in a research report on Wednesday. Raymond James upped their price objective on Abbott Laboratories from $87.00 to $93.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Morgan Stanley upped their price objective on Abbott Laboratories from $85.00 to $93.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Cowen upped their price objective on Abbott Laboratories from $86.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Finally, Bank of America reiterated a “buy” rating and set a $81.00 price objective on shares of Abbott Laboratories in a research report on Thursday, June 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $86.38.

About Abbott Laboratories

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

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

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