Abbott Laboratories (NYSE:ABT) Shares Sold by Oxford Financial Group Ltd.

Oxford Financial Group Ltd. cut its stake in Abbott Laboratories (NYSE:ABT) by 4.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,334 shares of the healthcare product maker’s stock after selling 330 shares during the period. Oxford Financial Group Ltd.’s holdings in Abbott Laboratories were worth $743,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Investment Advisory Services Inc. TX ADV grew its stake in shares of Abbott Laboratories by 0.4% in the first quarter. Investment Advisory Services Inc. TX ADV now owns 22,785 shares of the healthcare product maker’s stock worth $2,307,000 after purchasing an additional 93 shares in the last quarter. Delta Financial Group Inc. grew its stake in shares of Abbott Laboratories by 1.5% in the first quarter. Delta Financial Group Inc. now owns 6,475 shares of the healthcare product maker’s stock worth $656,000 after purchasing an additional 96 shares in the last quarter. Trifecta Capital Advisors LLC grew its stake in shares of Abbott Laboratories by 21.2% in the first quarter. Trifecta Capital Advisors LLC now owns 548 shares of the healthcare product maker’s stock worth $55,000 after purchasing an additional 96 shares in the last quarter. Patriot Investment Management Group Inc. grew its stake in shares of Abbott Laboratories by 3.1% in the fourth quarter. Patriot Investment Management Group Inc. now owns 3,236 shares of the healthcare product maker’s stock worth $356,000 after purchasing an additional 96 shares in the last quarter. Finally, Capital City Trust Co. FL grew its stake in shares of Abbott Laboratories by 2.1% in the first quarter. Capital City Trust Co. FL now owns 4,638 shares of the healthcare product maker’s stock worth $470,000 after purchasing an additional 97 shares in the last quarter. 73.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ABT has been the subject of several recent analyst reports. Barclays increased their price target on Abbott Laboratories from $127.00 to $132.00 and gave the stock an “overweight” rating in a research note on Monday, July 24th. Wolfe Research raised Abbott Laboratories from an “underperform” rating to a “peer perform” rating in a research note on Friday, July 21st. Mizuho raised their target price on Abbott Laboratories from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, July 21st. StockNews.com assumed coverage on Abbott Laboratories in a research note on Thursday, August 17th. They set a “buy” rating for the company. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $112.00 target price on shares of Abbott Laboratories in a research note on Friday, July 21st. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $120.82.

Abbott Laboratories Stock Down 0.0 %

Abbott Laboratories stock traded down $0.05 during mid-day trading on Monday, hitting $102.85. The company’s stock had a trading volume of 2,641,100 shares, compared to its average volume of 4,935,063. The firm’s 50 day moving average is $107.31 and its 200 day moving average is $105.33. The company has a market cap of $178.48 billion, a PE ratio of 35.10, a price-to-earnings-growth ratio of 4.59 and a beta of 0.68. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.64 and a quick ratio of 1.16. Abbott Laboratories has a 52-week low of $93.25 and a 52-week high of $115.83.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Thursday, July 20th. The healthcare product maker reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.03. Abbott Laboratories had a return on equity of 20.50% and a net margin of 12.83%. The company had revenue of $9.98 billion during the quarter, compared to the consensus estimate of $9.71 billion. During the same period last year, the business earned $1.43 EPS. The business’s quarterly revenue was down 11.4% on a year-over-year basis. On average, analysts anticipate that Abbott Laboratories will post 4.4 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Friday, July 14th were paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend was Thursday, July 13th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 69.62%.

Insider Transactions at Abbott Laboratories

In other news, Director Daniel J. Starks sold 50,000 shares of the firm’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $113.76, for a total transaction of $5,688,000.00. Following the completion of the sale, the director now directly owns 6,775,316 shares of the company’s stock, valued at approximately $770,759,948.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Andrea F. Wainer sold 10,400 shares of the stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $105.03, for a total transaction of $1,092,312.00. Following the transaction, the executive vice president now owns 65,027 shares of the company’s stock, valued at approximately $6,829,785.81. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel J. Starks sold 50,000 shares of the stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $113.76, for a total value of $5,688,000.00. Following the transaction, the director now directly owns 6,775,316 shares in the company, valued at approximately $770,759,948.16. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Abbott Laboratories Company 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 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.