Abner Herrman & Brock LLC Trims Position in Abbott Laboratories (NYSE:ABT)

Abner Herrman & Brock LLC decreased its stake in shares of Abbott Laboratories (NYSE:ABT) by 8.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 230,123 shares of the healthcare product maker’s stock after selling 21,968 shares during the quarter. Abbott Laboratories accounts for about 4.1% of Abner Herrman & Brock LLC’s holdings, making the stock its 5th biggest holding. Abner Herrman & Brock LLC’s holdings in Abbott Laboratories were worth $18,159,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Larson Financial Group LLC lifted its holdings in Abbott Laboratories by 374.3% in the first quarter. Larson Financial Group LLC now owns 351 shares of the healthcare product maker’s stock worth $28,000 after acquiring an additional 277 shares during the last quarter. Howard Wealth Management LLC bought a new position in Abbott Laboratories in the fourth quarter worth about $32,000. Covenant Multifamily Offices LLC bought a new position in Abbott Laboratories in the fourth quarter worth about $34,000. Pacifica Partners Inc. bought a new position in Abbott Laboratories in the fourth quarter worth about $34,000. Finally, Solstein Capital LLC bought a new position in Abbott Laboratories in the fourth quarter worth about $34,000. 75.02% of the stock is currently owned by institutional investors and hedge funds.

ABT has been the topic of several analyst reports. Evercore ISI lowered shares of Abbott Laboratories from an “outperform” rating to an “in-line” rating in a research note on Thursday, January 2nd. Morgan Stanley dropped their price target on shares of Abbott Laboratories from $101.00 to $96.00 and set an “overweight” rating on the stock in a research note on Friday, March 27th. Guggenheim lowered shares of Abbott Laboratories from a “buy” rating to a “neutral” rating in a research note on Thursday, January 2nd. JPMorgan Chase & Co. lowered their price objective on shares of Abbott Laboratories from $101.00 to $88.00 and set an “overweight” rating on the stock in a research note on Friday, April 3rd. Finally, Goldman Sachs Group initiated coverage on shares of Abbott Laboratories in a research note on Wednesday, February 12th. They set a “neutral” rating and a $96.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $93.31.

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 1,120 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $88.61, for a total value of $99,243.20. Following the completion of the transaction, the executive vice president now directly owns 40,140 shares of the company’s stock, valued at $3,556,805.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Philip P. Boudreau sold 10,600 shares of the business’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $82.00, for a total transaction of $869,200.00. Following the completion of the transaction, the vice president now directly owns 22,463 shares of the company’s stock, valued at $1,841,966. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 568,733 shares of company stock worth $50,878,762. Insiders own 1.70% of the company’s stock.

Shares of Abbott Laboratories stock traded up $1.09 during midday trading on Thursday, reaching $86.04. 10,464,979 shares of the company’s stock traded hands, compared to its average volume of 14,842,158. The company has a market cap of $144.48 billion, a price-to-earnings ratio of 41.77, a price-to-earnings-growth ratio of 2.81 and a beta of 0.93. The company’s 50 day simple moving average is $79.11 and its 200 day simple moving average is $83.64. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.04 and a current ratio of 1.44. Abbott Laboratories has a 52 week low of $61.61 and a 52 week high of $92.45.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, January 22nd. The healthcare product maker reported $0.95 EPS for the quarter, hitting the consensus estimate of $0.95. The firm had revenue of $8.31 billion for the quarter, compared to the consensus estimate of $8.26 billion. Abbott Laboratories had a net margin of 11.56% and a return on equity of 18.39%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.81 EPS. As a group, equities research analysts predict that Abbott Laboratories will post 3.18 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Wednesday, April 15th will be issued a dividend of $0.36 per share. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.08. The ex-dividend date is Tuesday, April 14th. This represents a $1.44 annualized dividend and a dividend yield of 1.67%. Abbott Laboratories’s payout ratio is presently 44.44%.

Abbott Laboratories Company Profile

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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