Abbott Laboratories (NYSE:ABT) Shares Sold by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. reduced its stake in Abbott Laboratories (NYSE:ABT) by 33.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 172,962 shares of the healthcare product maker’s stock after selling 87,740 shares during the period. Cullen Frost Bankers Inc.’s holdings in Abbott Laboratories were worth $17,973,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in ABT. Unique Wealth Strategies LLC acquired a new position in shares of Abbott Laboratories during the 2nd quarter valued at $28,000. Redmont Wealth Advisors LLC acquired a new position in Abbott Laboratories during the first quarter worth about $30,000. Richardson Financial Services Inc. bought a new stake in Abbott Laboratories in the fourth quarter worth about $29,000. Transcendent Capital Group LLC acquired a new stake in Abbott Laboratories in the 4th quarter valued at about $29,000. Finally, True Wealth Design LLC grew its stake in shares of 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 purchasing an additional 302 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Trading Up 0.7 %

Shares of Abbott Laboratories stock traded up $0.76 during trading on Friday, hitting $113.86. The stock had a trading volume of 3,802,320 shares, compared to its average volume of 5,855,512. The stock has a 50 day simple moving average of $107.87 and a 200 day simple moving average of $108.79. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $121.64. The company has a market capitalization of $198.07 billion, a PE ratio of 35.49, a P/E/G ratio of 2.82 and a beta of 0.72. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The firm had revenue of $10.38 billion for the quarter, compared to the consensus estimate of $10.37 billion. During the same period in the previous year, the firm posted $1.08 earnings per share. The firm’s revenue was up 4.0% on a year-over-year basis. On average, research analysts expect that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, July 15th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend was Monday, July 15th. Abbott Laboratories’s dividend payout ratio is 68.54%.

Analyst Ratings Changes

A number of research firms recently commented on ABT. The Goldman Sachs Group began coverage on shares of Abbott Laboratories in a report on Thursday, May 30th. They issued a “buy” rating and a $121.00 target price on the stock. Evercore ISI dropped their target price 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. Edward Jones downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $125.00 target price on shares of Abbott Laboratories in a report on Tuesday, June 4th. Finally, Barclays boosted their target price on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $121.80.

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.