Geneva Partners LLC Has $455,000 Stake in Abbott Laboratories (NYSE:ABT)

Geneva Partners LLC lessened its position in shares of Abbott Laboratories (NYSE:ABT) by 38.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,135 shares of the healthcare product maker’s stock after selling 2,552 shares during the period. Geneva Partners LLC’s holdings in Abbott Laboratories were worth $455,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Rappaport Reiches Capital Management LLC boosted its stake in Abbott Laboratories by 0.8% in the fourth quarter. Rappaport Reiches Capital Management LLC now owns 12,287 shares of the healthcare product maker’s stock valued at $1,352,000 after acquiring an additional 94 shares in the last quarter. Patriot Investment Management Group Inc. grew its stake in Abbott Laboratories by 3.1% during the 4th quarter. Patriot Investment Management Group Inc. now owns 3,236 shares of the healthcare product maker’s stock worth $356,000 after buying an additional 96 shares during the last quarter. Avion Wealth increased its position in Abbott Laboratories by 19.4% during the 4th quarter. Avion Wealth now owns 591 shares of the healthcare product maker’s stock valued at $65,000 after buying an additional 96 shares in the last quarter. Shepherd Financial Partners LLC raised its stake in Abbott Laboratories by 4.5% in the fourth quarter. Shepherd Financial Partners LLC now owns 2,275 shares of the healthcare product maker’s stock valued at $250,000 after buying an additional 99 shares during the last quarter. Finally, Stonebridge Capital Advisors LLC boosted its holdings in Abbott Laboratories by 0.5% in the first quarter. Stonebridge Capital Advisors LLC now owns 20,029 shares of the healthcare product maker’s stock worth $2,371,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Royal Bank of Canada decreased their price target on shares of Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a report on Thursday. Raymond James lifted their price target on Abbott Laboratories from $124.00 to $127.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. TheStreet raised Abbott Laboratories from a “c+” rating to a “b-” rating in a report on Thursday, December 21st. Evercore ISI upped their target price on Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Finally, Barclays raised their price target on shares of Abbott Laboratories from $133.00 to $141.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.31.

Insider Buying and Selling at Abbott Laboratories

In other news, VP John A. Jr. Mccoy sold 472 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $55,932.00. Following the completion of the transaction, the vice president now directly owns 18,760 shares of the company’s stock, valued at approximately $2,223,060. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Abbott Laboratories 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 transaction of $1,500,000.00. Following the transaction, the executive vice president now directly owns 78,704 shares in the company, valued at $9,444,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP John A. Jr. Mccoy sold 472 shares of Abbott Laboratories stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $118.50, for a total transaction of $55,932.00. Following the sale, the vice president now owns 18,760 shares of the company’s stock, valued at $2,223,060. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,435 shares of company stock valued at $6,451,298. 1.10% of the stock is owned by corporate insiders.

Abbott Laboratories Stock Performance

Abbott Laboratories stock traded up $2.02 during mid-day trading on Friday, reaching $107.29. 10,525,210 shares of the company were exchanged, compared to its average volume of 5,763,002. The firm’s 50-day simple moving average is $114.19 and its two-hundred day simple moving average is $107.65. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64. The firm has a market cap of $186.17 billion, a PE ratio of 33.42, a price-to-earnings-growth ratio of 2.55 and a beta of 0.74. 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 posted its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. The firm had revenue of $9.96 billion for the quarter, compared to analyst estimates of $9.88 billion. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.32%. Abbott Laboratories’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the firm posted $1.03 EPS. Equities analysts predict that Abbott Laboratories will post 4.61 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a dividend of $0.55 per share. The ex-dividend date is Friday, April 12th. This represents a $2.20 annualized dividend and a yield of 2.05%. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

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.