Embree Financial Group Trims Stock Position in Abbott Laboratories (NYSE:ABT)

Embree Financial Group reduced its stake in shares of Abbott Laboratories (NYSE:ABT) by 4.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,028 shares of the healthcare product maker’s stock after selling 1,274 shares during the quarter. Embree Financial Group’s holdings in Abbott Laboratories were worth $3,072,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of ABT. Carson Advisory Inc. raised its position in Abbott Laboratories by 4.3% in the 1st quarter. Carson Advisory Inc. now owns 2,778 shares of the healthcare product maker’s stock valued at $316,000 after purchasing an additional 115 shares during the last quarter. Catalina Capital Group LLC raised its position in Abbott Laboratories by 117.4% in the first quarter. Catalina Capital Group LLC now owns 4,453 shares of the healthcare product maker’s stock worth $506,000 after acquiring an additional 2,405 shares in the last quarter. Avidian Wealth Solutions LLC lifted its position in shares of Abbott Laboratories by 8.3% during the 1st quarter. Avidian Wealth Solutions LLC now owns 9,845 shares of the healthcare product maker’s stock valued at $1,119,000 after acquiring an additional 752 shares during the period. TFB Advisors LLC acquired a new position in Abbott Laboratories during the first quarter worth about $249,000. Finally, Mediolanum International Funds Ltd acquired a new position in Abbott Laboratories in the 1st quarter valued at about $20,928,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insiders Place Their Bets

In other Abbott Laboratories news, EVP Lisa D. Earnhardt sold 22,852 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the completion of the transaction, the executive vice president now owns 61,462 shares in the company, valued at approximately $6,530,337.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Lisa D. Earnhardt sold 22,852 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the completion of the transaction, the executive vice president now owns 61,462 shares in the company, valued at approximately $6,530,337.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Jr. Robert E. Funck sold 10,097 shares of Abbott Laboratories stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $104.57, for a total transaction of $1,055,843.29. Following the completion of the transaction, the executive vice president now owns 211,341 shares in the company, valued at approximately $22,099,928.37. The disclosure for this sale can be found here. 0.47% of the stock is owned by corporate insiders.

Abbott Laboratories Stock Up 1.3 %

NYSE:ABT traded up $1.37 during trading hours on Wednesday, hitting $103.01. The stock had a trading volume of 6,598,893 shares, compared to its average volume of 5,664,036. The business has a 50 day simple moving average of $104.12 and a two-hundred day simple moving average of $109.80. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.32. The company has a market cap of $179.20 billion, a PE ratio of 32.09, a price-to-earnings-growth ratio of 2.46 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.02. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. The firm had revenue of $9.96 billion for the quarter, compared to the consensus estimate of $9.88 billion. During the same quarter in the previous year, the firm posted $1.03 EPS. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. Analysts predict that Abbott Laboratories will post 4.62 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be given a dividend of $0.55 per share. The ex-dividend date is Monday, July 15th. This represents a $2.20 dividend on an annualized basis and a yield of 2.14%. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Barclays lowered their target price on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a research note on Monday, April 22nd. Citigroup decreased their price target on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. Evercore ISI cut their price objective on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. The Goldman Sachs Group started coverage on shares of Abbott Laboratories in a research report on Thursday, May 30th. They set a “buy” rating and a $121.00 price target for the company. Finally, Raymond James reiterated a “buy” rating and issued a $124.00 price target on shares of Abbott Laboratories in a report on Wednesday, April 24th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $120.18.

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 company 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.