Dumont & Blake Investment Advisors LLC Sells 466 Shares of Abbott Laboratories (NYSE:ABT)

Dumont & Blake Investment Advisors LLC reduced its stake in Abbott Laboratories (NYSE:ABT) by 4.0% during the first quarter, according to its most recent filing with the SEC. The fund owned 11,075 shares of the healthcare product maker’s stock after selling 466 shares during the quarter. Dumont & Blake Investment Advisors LLC’s holdings in Abbott Laboratories were worth $1,259,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Signature Resources Capital Management LLC bought a new stake in shares of Abbott Laboratories in the 4th quarter worth approximately $29,000. Richardson Financial Services Inc. purchased a new position in shares of Abbott Laboratories during the 4th quarter valued at $29,000. Transcendent Capital Group LLC bought a new position in shares of Abbott Laboratories during the 4th quarter worth $29,000. True Wealth Design LLC increased its holdings in Abbott Laboratories by 1,677.8% in the 4th quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock worth $35,000 after acquiring an additional 302 shares during the last quarter. Finally, Stuart Chaussee & Associates Inc. raised its stake in Abbott Laboratories by 236.0% in the 4th quarter. Stuart Chaussee & Associates Inc. now owns 336 shares of the healthcare product maker’s stock valued at $37,000 after acquiring an additional 236 shares during the period. Institutional investors own 75.18% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Barclays reduced 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. Royal Bank of Canada reissued an “outperform” rating and set a $125.00 target price on shares of Abbott Laboratories in a report on Tuesday, June 4th. Citigroup cut their price target on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Raymond James reissued a “buy” rating and set a $124.00 price objective on shares of Abbott Laboratories in a report on Wednesday, April 24th. Finally, Evercore ISI upped their price target on Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.64.

Abbott Laboratories Price Performance

Shares of NYSE ABT traded down $0.74 during mid-day trading on Friday, reaching $103.91. 8,283,577 shares of the company were exchanged, compared to its average volume of 5,748,477. The stock has a market capitalization of $180.76 billion, a PE ratio of 32.37, a PEG ratio of 2.50 and a beta of 0.74. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a 52 week low of $89.67 and a 52 week high of $121.64. The company’s 50 day moving average price is $104.79 and its 200 day moving average price is $110.10.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, beating the consensus estimate of $0.96 by $0.02. The firm had revenue of $9.96 billion for the quarter, compared to analyst estimates of $9.88 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.96%. The company’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.03 EPS. Sell-side analysts forecast that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Monday, July 15th. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

Insiders Place Their Bets

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 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 value of $2,428,025.00. Following 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jr. Robert E. Funck sold 10,097 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $104.57, for a total transaction of $1,055,843.29. Following the sale, the executive vice president now owns 211,341 shares of the company’s stock, valued at $22,099,928.37. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

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.