Kellett Wealth Advisors LLC Sells 400 Shares of Abbott Laboratories (NYSE:ABT)

Kellett Wealth Advisors LLC cut its holdings in shares of Abbott Laboratories (NYSE:ABT) by 17.6% during the 4th quarter, Holdings Channel reports. The firm owned 1,878 shares of the healthcare product maker’s stock after selling 400 shares during the period. Kellett Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $207,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in ABT. Altshuler Shaham Ltd bought a new position in shares of Abbott Laboratories during the fourth quarter worth approximately $28,000. Cornerstone Planning Group LLC bought a new position in Abbott Laboratories in the second quarter valued at approximately $28,000. FWL Investment Management LLC bought a new position in Abbott Laboratories in the fourth quarter valued at approximately $33,000. True Wealth Design LLC bought a new position in Abbott Laboratories in the fourth quarter valued at approximately $33,000. Finally, Quarry LP increased its stake in Abbott Laboratories by 132.9% in the second quarter. Quarry LP now owns 333 shares of the healthcare product maker’s stock valued at $36,000 after acquiring an additional 190 shares during the last quarter. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Trading Down 0.6 %

Shares of NYSE:ABT traded down $0.63 during mid-day trading on Thursday, reaching $105.27. 7,294,151 shares of the company’s stock were exchanged, compared to its average volume of 5,699,425. The firm has a market capitalization of $182.66 billion, a price-to-earnings ratio of 32.29, a PEG ratio of 2.63 and a beta of 0.74. The business’s fifty day moving average price is $114.42 and its 200-day moving average price is $107.59. 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 has a twelve month low of $89.67 and a twelve month high of $121.64.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.02. The business had revenue of $9.96 billion for the quarter, compared to analyst estimates of $9.88 billion. Abbott Laboratories had a net margin of 14.27% and a return on equity of 20.65%. Abbott Laboratories’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.03 earnings per share. On average, research analysts predict that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 2.09%. Abbott Laboratories’s payout ratio is 67.48%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. TheStreet raised shares of Abbott Laboratories from a “c+” rating to a “b-” rating in a research note on Thursday, December 21st. 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. Barclays raised their target price on shares of Abbott Laboratories from $133.00 to $141.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Evercore ISI raised 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. Finally, Royal Bank of Canada cut their target price on shares of Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating on the stock in a research report on Thursday. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.31.

Insider Activity 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 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 in the company, valued at $9,444,480. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Abbott Laboratories news, EVP Andrea F. Wainer sold 12,500 shares of Abbott Laboratories stock in a transaction 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 completion of the sale, the executive vice president now directly 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 available at the SEC website. Also, EVP Andrea F. Wainer sold 42,500 shares of Abbott Laboratories stock in a transaction on Monday, January 29th. The shares were sold at an average price of $112.50, for a total transaction of $4,781,250.00. Following the completion of the sale, the executive vice president now directly owns 65,027 shares of the company’s stock, valued at $7,315,537.50. The disclosure for this sale can be found here. Insiders have sold a total of 56,435 shares of company stock worth $6,451,298 over the last quarter. Company insiders own 1.10% of the company’s stock.

Abbott Laboratories 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.