RB Capital Management LLC Lowers Holdings in Abbott Laboratories (NYSE:ABT)

RB Capital Management LLC lowered its position in shares of Abbott Laboratories (NYSE:ABT) by 4.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,611 shares of the healthcare product maker’s stock after selling 2,026 shares during the period. Abbott Laboratories makes up approximately 1.5% of RB Capital Management LLC’s portfolio, making the stock its 17th largest position. RB Capital Management LLC’s holdings in Abbott Laboratories were worth $5,351,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of ABT. Rise Advisors LLC bought a new stake in Abbott Laboratories during the fourth quarter valued at approximately $37,000. Stuart Chaussee & Associates Inc. increased its position in Abbott Laboratories by 236.0% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 336 shares of the healthcare product maker’s stock worth $37,000 after buying an additional 236 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in shares of Abbott Laboratories in the 3rd quarter worth $40,000. Cornerstone Planning Group LLC lifted its stake in shares of Abbott Laboratories by 79.4% in the 3rd quarter. Cornerstone Planning Group LLC now owns 454 shares of the healthcare product maker’s stock valued at $44,000 after purchasing an additional 201 shares during the last quarter. Finally, Legacy Financial Group LLC bought a new stake in Abbott Laboratories in the third quarter worth $46,000. 75.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Abbott Laboratories

In other news, EVP Andrea F. Wainer sold 12,500 shares of Abbott Laboratories stock in a transaction that occurred on 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 transaction, the executive vice president now owns 78,704 shares of the company’s stock, valued at approximately $9,444,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Andrea F. Wainer sold 12,500 shares of the stock in a transaction dated Friday, February 23rd. The stock was 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 directly owns 78,704 shares of the company’s stock, valued at approximately $9,444,480. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Daniel Gesua Sive Salvadori sold 963 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $118.50, for a total value of $114,115.50. Following the sale, the executive vice president now directly owns 125,697 shares of the company’s stock, valued at $14,895,094.50. The disclosure for this sale can be found here. Insiders have sold 13,935 shares of company stock valued at $1,670,048 in the last quarter. Corporate insiders own 0.47% of the company’s stock.

Abbott Laboratories Stock Up 0.3 %

Abbott Laboratories stock traded up $0.32 during trading on Wednesday, reaching $106.29. 4,096,531 shares of the company’s stock were exchanged, compared to its average volume of 5,592,533. The company’s 50-day moving average is $113.29 and its two-hundred day moving average is $108.44. The firm has a market cap of $184.43 billion, a price-to-earnings ratio of 33.23, a PEG ratio of 2.58 and a beta of 0.74. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.16 and a current ratio of 1.64.

Abbott Laboratories (NYSE:ABT) last announced its earnings results 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. Abbott Laboratories had a return on equity of 20.32% and a net margin of 13.96%. The business had revenue of $9.96 billion for the quarter, compared to the consensus estimate of $9.88 billion. During the same period last year, the business posted $1.03 EPS. The company’s revenue was up 2.2% on a year-over-year basis. On average, analysts predict that Abbott Laboratories will post 4.62 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a $0.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.07%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ABT shares. Evercore ISI boosted their price objective 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. Royal Bank of Canada reduced their price target on shares of Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a research report on Thursday, April 18th. Citigroup boosted their price target on Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Barclays lowered their target price on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a research note on Monday, April 22nd. Finally, Raymond James reissued a “buy” rating and issued a $124.00 price target on shares of Abbott Laboratories in a research note on Wednesday, April 24th. Three investment 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 company currently has an average rating of “Moderate Buy” and a consensus target price of $121.50.

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.