Abbott Laboratories (NYSE:ABT) Shares Sold by Mechanics Financial Corp

Mechanics Financial Corp lowered its stake in shares of Abbott Laboratories (NYSE:ABT) by 8.5% during the fourth quarter, Holdings Channel reports. The fund owned 5,658 shares of the healthcare product maker’s stock after selling 525 shares during the quarter. Mechanics Financial Corp’s holdings in Abbott Laboratories were worth $623,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in ABT. Stuart Chaussee & Associates Inc. boosted its holdings in shares of Abbott Laboratories by 236.0% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 336 shares of the healthcare product maker’s stock worth $37,000 after purchasing an additional 236 shares during the last quarter. Rise Advisors LLC acquired a new stake in shares of Abbott Laboratories in the 4th quarter valued at about $37,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of Abbott Laboratories in the 3rd quarter worth approximately $40,000. Cornerstone Planning Group LLC grew its position 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 last quarter. Finally, Bfsg LLC bought a new stake in Abbott Laboratories in the 4th quarter valued at about $51,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

NYSE ABT traded down $1.04 during trading on Thursday, reaching $105.25. The company’s stock had a trading volume of 1,259,436 shares, compared to its average volume of 5,555,070. The firm has a market capitalization of $182.63 billion, a price-to-earnings ratio of 33.11, a price-to-earnings-growth 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 1.64, a quick ratio of 1.16 and a debt-to-equity ratio of 0.35. The firm has a 50 day moving average price of $113.06 and a 200 day moving average price of $108.43.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. The company had revenue of $9.96 billion during the quarter, compared to analysts’ expectations of $9.88 billion. Abbott Laboratories had a return on equity of 20.32% and a net margin of 13.96%. Abbott Laboratories’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.03 EPS. As a group, equities analysts anticipate that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.09%. The ex-dividend date is Friday, April 12th. Abbott Laboratories’s payout ratio is 68.54%.

Wall Street Analyst Weigh In

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

Insider Transactions at Abbott Laboratories

In related news, EVP Andrea F. Wainer sold 12,500 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the sale, the executive vice president now owns 78,704 shares in the company, valued at approximately $9,444,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Daniel Gesua Sive Salvadori sold 963 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $118.50, for a total value of $114,115.50. Following the completion of the sale, the executive vice president now directly owns 125,697 shares in the company, valued at $14,895,094.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of the sale, the executive vice president now owns 78,704 shares in the company, valued at approximately $9,444,480. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,935 shares of company stock worth $1,670,048. Corporate insiders own 1.10% of the company’s stock.

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.