Tributary Capital Management LLC Lowers Position in Abbott Laboratories (NYSE:ABT)

Tributary Capital Management LLC lessened its holdings in Abbott Laboratories (NYSE:ABT) by 2.6% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,389 shares of the healthcare product maker’s stock after selling 200 shares during the period. Tributary Capital Management LLC’s holdings in Abbott Laboratories were worth $840,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Signature Resources Capital Management LLC purchased a new stake in Abbott Laboratories during the fourth quarter valued at about $29,000. Transcendent Capital Group LLC purchased a new stake in Abbott Laboratories during the fourth quarter valued at about $29,000. Richardson Financial Services Inc. purchased a new stake in Abbott Laboratories during the fourth quarter valued at about $29,000. True Wealth Design LLC raised its position in Abbott Laboratories by 1,677.8% during the fourth quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock valued at $35,000 after purchasing an additional 302 shares in the last quarter. Finally, Rise Advisors LLC purchased a new stake in Abbott Laboratories during the fourth quarter valued at about $37,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insider Transactions at Abbott Laboratories

In other news, EVP Lisa D. Earnhardt sold 22,852 shares of the firm’s stock in a transaction dated 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 $6,530,337.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Lisa D. Earnhardt sold 22,852 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 61,462 shares of the company’s stock, valued at $6,530,337.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Jr. Robert E. Funck sold 10,097 shares of the firm’s 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 transaction, the executive vice president now directly owns 211,341 shares in the company, valued at $22,099,928.37. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ABT. Raymond James restated a “buy” rating and set a $124.00 price target on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Citigroup reduced their price objective 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $125.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Evercore ISI raised their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Finally, The Goldman Sachs Group initiated coverage on Abbott Laboratories in a research note on Thursday, May 30th. They set a “buy” rating and a $121.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $120.64.

Abbott Laboratories Stock Up 0.0 %

Shares of ABT stock traded up $0.04 during midday trading on Tuesday, reaching $103.24. 78,289 shares of the stock were exchanged, compared to its average volume of 5,654,016. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $121.64. The company’s 50 day moving average is $104.79 and its two-hundred day moving average is $110.12. 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 firm has a market cap of $179.60 billion, a PE ratio of 32.15, a price-to-earnings-growth ratio of 2.50 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.96%. The firm had revenue of $9.96 billion for the quarter, compared to analysts’ expectations of $9.88 billion. During the same period in the previous year, the firm posted $1.03 EPS. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, equities research analysts predict that Abbott Laboratories will post 4.62 EPS for the current year.

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be issued a dividend of $0.55 per share. The ex-dividend date is Monday, July 15th. This represents a $2.20 annualized dividend and a dividend yield of 2.13%. Abbott Laboratories’s payout ratio is 68.54%.

About Abbott Laboratories

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.