Abbott Laboratories (NYSE:ABT) Shares Sold by Delta Financial Advisors LLC
Delta Financial Advisors LLC decreased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 1.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,405 shares of the healthcare product maker’s stock after selling 265 shares during the quarter. Delta Financial Advisors LLC’s holdings in Abbott Laboratories were worth $2,380,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in ABT. Cadinha & Co. LLC boosted its holdings in shares of Abbott Laboratories by 0.9% in the third quarter. Cadinha & Co. LLC now owns 18,841 shares of the healthcare product maker’s stock valued at $1,576,000 after acquiring an additional 166 shares in the last quarter. Executive Wealth Management LLC bought a new stake in Abbott Laboratories during the fourth quarter worth approximately $4,835,000. Lenox Wealth Management Inc. boosted its holdings in Abbott Laboratories by 58.1% during the third quarter. Lenox Wealth Management Inc. now owns 1,154 shares of the healthcare product maker’s stock worth $96,000 after buying an additional 424 shares in the last quarter. AE Wealth Management LLC boosted its holdings in Abbott Laboratories by 7.8% during the third quarter. AE Wealth Management LLC now owns 47,096 shares of the healthcare product maker’s stock worth $3,941,000 after buying an additional 3,401 shares in the last quarter. Finally, Simon Quick Advisors LLC boosted its holdings in Abbott Laboratories by 4.0% during the fourth quarter. Simon Quick Advisors LLC now owns 3,302 shares of the healthcare product maker’s stock worth $287,000 after buying an additional 127 shares in the last quarter. Hedge funds and other institutional investors own 73.58% of the company’s stock.
In other Abbott Laboratories news, EVP Andrea F. Wainer sold 1,120 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $88.61, for a total value of $99,243.20. Following the completion of the sale, the executive vice president now owns 40,140 shares in the company, valued at approximately $3,556,805.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Brian B. Yoor sold 509,850 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $89.73, for a total transaction of $45,748,840.50. Following the completion of the sale, the chief financial officer now owns 155,610 shares of the company’s stock, valued at approximately $13,962,885.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 548,470 shares of company stock valued at $49,207,334. Insiders own 0.70% of the company’s stock.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $0.95 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.95. The business had revenue of $8.31 billion during the quarter, compared to the consensus estimate of $8.26 billion. Abbott Laboratories had a net margin of 11.56% and a return on equity of 18.34%. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.81 EPS. On average, equities analysts predict that Abbott Laboratories will post 3.6 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 7th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.36%. Abbott Laboratories’s payout ratio is 44.44%.
A number of analysts recently weighed in on the stock. UBS Group raised their target price on shares of Abbott Laboratories from $99.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Evercore ISI cut shares of Abbott Laboratories from an “outperform” rating to an “in-line” rating in a report on Thursday, January 2nd. Wells Fargo & Co raised their target price on shares of Abbott Laboratories from $97.00 to $103.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Raymond James raised their target price on shares of Abbott Laboratories from $90.00 to $99.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Finally, Citigroup cut shares of Abbott Laboratories from a “neutral” rating to a “sell” rating in a report on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. Abbott Laboratories has a consensus rating of “Buy” and an average target price of $95.60.
Abbott Laboratories Company Profile
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.
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