Tyche Wealth Partners LLC Cuts Stock Holdings in Abbott Laboratories (NYSE:ABT)

Tyche Wealth Partners LLC reduced its position in shares of Abbott Laboratories (NYSE:ABT) by 30.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,502 shares of the healthcare product maker’s stock after selling 5,127 shares during the period. Tyche Wealth Partners LLC’s holdings in Abbott Laboratories were worth $1,526,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Redwood Park Advisors LLC purchased a new stake in shares of Abbott Laboratories in the fourth quarter valued at approximately $25,000. Noble Wealth Management PBC purchased a new stake in shares of Abbott Laboratories in the fourth quarter valued at approximately $26,000. NewSquare Capital LLC grew its position in shares of Abbott Laboratories by 78.4% in the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock valued at $27,000 after purchasing an additional 105 shares in the last quarter. WealthTrak Capital Management LLC purchased a new stake in shares of Abbott Laboratories in the fourth quarter valued at approximately $28,000. Finally, Rialto Wealth Management LLC purchased a new stake in shares of Abbott Laboratories in the fourth quarter valued at approximately $29,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on ABT shares. The Goldman Sachs Group increased their price objective on Abbott Laboratories from $138.00 to $154.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Stifel Nicolaus raised their price target on Abbott Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, April 17th. Wells Fargo & Company raised their price target on Abbott Laboratories from $136.00 to $147.00 and gave the company an “overweight” rating in a research note on Thursday, April 17th. Bank of America lifted their target price on Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Finally, Barclays raised their price target on Abbott Laboratories from $158.00 to $159.00 and gave the stock an “overweight” rating in a report on Thursday, April 17th. Six equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Abbott Laboratories currently has an average rating of “Moderate Buy” and an average target price of $142.61.

Abbott Laboratories Stock Performance

Shares of ABT opened at $138.13 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.78 and a quick ratio of 1.27. The company has a market capitalization of $240.32 billion, a PE ratio of 17.92, a price-to-earnings-growth ratio of 2.53 and a beta of 0.73. The company’s fifty day moving average price is $132.54 and its 200 day moving average price is $127.23. Abbott Laboratories has a one year low of $99.71 and a one year high of $141.23.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.02. Abbott Laboratories had a net margin of 31.89% and a return on equity of 19.01%. The business had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.38 billion. As a group, analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date is Tuesday, July 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 30.61%.

Insider Buying and Selling

In other news, Director Sally E. Blount sold 2,600 shares of the company’s stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total value of $337,116.00. Following the completion of the transaction, the director now owns 34,058 shares in the company, valued at $4,415,960.28. This represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.46% of the stock is currently owned by insiders.

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.