Abbott Laboratories (NYSE:ABT) Shares Sold by Mattern Capital Management LLC

Mattern Capital Management LLC lowered its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 70,441 shares of the healthcare product maker’s stock after selling 726 shares during the quarter. Mattern Capital Management LLC’s holdings in Abbott Laboratories were worth $9,344,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ABT. Redwood Park Advisors LLC acquired a new position in shares of Abbott Laboratories during the 4th quarter valued at about $25,000. Noble Wealth Management PBC acquired a new stake in Abbott Laboratories during the 4th quarter worth approximately $26,000. NewSquare Capital LLC increased its position in Abbott Laboratories by 78.4% during the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock worth $27,000 after purchasing an additional 105 shares in the last quarter. WealthTrak Capital Management LLC acquired a new stake in Abbott Laboratories during the 4th quarter worth approximately $28,000. Finally, Rialto Wealth Management LLC acquired a new stake in Abbott Laboratories during the 4th quarter worth approximately $29,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ABT shares. Wells Fargo & Company increased their target price on shares of Abbott Laboratories from $136.00 to $147.00 and gave the stock an “overweight” rating in a research report on Thursday, April 17th. Citigroup increased their target price on shares of Abbott Laboratories from $135.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Bank of America increased their target price on shares of Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Royal Bank Of Canada upped their price target on Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, April 17th. Finally, Leerink Partners initiated coverage on Abbott Laboratories in a report on Monday, June 16th. They issued a “market perform” rating and a $143.00 price target for the company. Six research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.61.

Abbott Laboratories Stock Performance

ABT stock opened at $138.13 on Wednesday. The company has a current ratio of 1.78, a quick ratio of 1.27 and a debt-to-equity ratio of 0.26. The firm has a market cap of $240.32 billion, a P/E ratio of 17.92, a P/E/G ratio of 2.53 and a beta of 0.73. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $141.23. The stock’s 50 day simple moving average is $132.54 and its 200 day simple moving average is $127.23.

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

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.71%. The ex-dividend date is Tuesday, July 15th. Abbott Laboratories’s dividend payout ratio is presently 30.61%.

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.