Abbott Laboratories (NYSE:ABT) Holdings Trimmed by Wealthspire Advisors LLC

Wealthspire Advisors LLC trimmed its position in shares of Abbott Laboratories (NYSE:ABT) by 1.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 40,138 shares of the healthcare product maker’s stock after selling 560 shares during the period. Wealthspire Advisors LLC’s holdings in Abbott Laboratories were worth $4,418,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ABT. Signature Resources Capital Management LLC acquired a new stake in shares of Abbott Laboratories during the 4th quarter valued at $29,000. Rise Advisors LLC acquired a new stake in shares of Abbott Laboratories during the 4th quarter valued at $37,000. Stuart Chaussee & Associates Inc. boosted its stake in shares of Abbott Laboratories by 236.0% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 336 shares of the healthcare product maker’s stock valued at $37,000 after buying an additional 236 shares during the period. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in shares of Abbott Laboratories during the 3rd quarter valued at $40,000. Finally, Cornerstone Planning Group LLC boosted its stake in shares of Abbott Laboratories by 79.4% during the 3rd quarter. Cornerstone Planning Group LLC now owns 454 shares of the healthcare product maker’s stock valued at $44,000 after buying an additional 201 shares during the period. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Evercore ISI lifted their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Citigroup lifted their price objective on shares of Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Raymond James reaffirmed a “buy” rating and issued a $124.00 price objective on shares of Abbott Laboratories in a research note on Wednesday, April 24th. Barclays reduced their price objective 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. Finally, Royal Bank of Canada reduced their price objective on shares of Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a research note on Thursday, April 18th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $121.50.

Insider Transactions at Abbott Laboratories

In other news, VP John A. Jr. Mccoy sold 472 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $118.50, for a total transaction of $55,932.00. Following the transaction, the vice president now owns 18,760 shares in the company, valued at approximately $2,223,060. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Andrea F. Wainer sold 12,500 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $120.00, for a total value of $1,500,000.00. Following the sale, the executive vice president now owns 78,704 shares of the company’s stock, valued at $9,444,480. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP John A. Jr. Mccoy sold 472 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $118.50, for a total transaction of $55,932.00. Following the completion of the sale, the vice president now directly owns 18,760 shares in the company, valued at approximately $2,223,060. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,787 shares of company stock worth $4,098,073. 0.47% of the stock is currently owned by company insiders.

Abbott Laboratories Stock Performance

ABT traded down $1.23 during trading on Wednesday, hitting $104.94. The stock had a trading volume of 6,149,178 shares, compared to its average volume of 5,560,422. The firm has a market cap of $182.56 billion, a PE ratio of 32.69, a P/E/G ratio of 2.55 and a beta of 0.76. Abbott Laboratories has a 12 month low of $89.67 and a 12 month high of $121.64. 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 company has a 50 day simple moving average of $112.00 and a 200-day simple moving average of $108.85.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, topping the consensus estimate of $0.96 by $0.02. The firm had revenue of $9.96 billion for the quarter, compared to the consensus estimate of $9.88 billion. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.03 EPS. Analysts expect that Abbott Laboratories will post 4.62 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $2.20 annualized dividend and a dividend yield of 2.10%. Abbott Laboratories’s payout ratio is 68.54%.

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.