IMA Wealth Inc. Cuts Stock Holdings in Abbott Laboratories (NYSE:ABT)

IMA Wealth Inc. trimmed its position in shares of Abbott Laboratories (NYSE:ABT) by 10.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,152 shares of the healthcare product maker’s stock after selling 250 shares during the quarter. IMA Wealth Inc.’s holdings in Abbott Laboratories were worth $237,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Sector Gamma AS purchased a new position in shares of Abbott Laboratories during the 4th quarter valued at approximately $4,389,000. Alliance Wealth Advisors LLC UT increased its holdings in Abbott Laboratories by 0.4% in the 4th quarter. Alliance Wealth Advisors LLC UT now owns 25,085 shares of the healthcare product maker’s stock worth $2,761,000 after acquiring an additional 92 shares in the last quarter. Stuart Chaussee & Associates Inc. increased its holdings in Abbott Laboratories by 236.0% in the 4th quarter. Stuart Chaussee & Associates Inc. now owns 336 shares of the healthcare product maker’s stock worth $37,000 after acquiring an additional 236 shares in the last quarter. Gilliland Jeter Wealth Management LLC purchased a new stake in Abbott Laboratories in the 4th quarter worth $526,000. Finally, Headlands Technologies LLC increased its holdings in Abbott Laboratories by 98.5% in the 4th quarter. Headlands Technologies LLC now owns 25,006 shares of the healthcare product maker’s stock worth $2,752,000 after acquiring an additional 12,408 shares in the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Trading Up 0.6 %

Shares of ABT stock traded up $0.67 on Friday, hitting $107.53. 3,575,566 shares of the stock traded hands, compared to its average volume of 5,219,304. The firm’s 50-day moving average price is $113.64 and its two-hundred day moving average price is $108.03. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.16 and a current ratio of 1.64. The stock has a market capitalization of $186.58 billion, a PE ratio of 33.50, a PEG ratio of 2.57 and a beta of 0.74. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64.

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

Abbott Laboratories Announces Dividend

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

Analysts Set New Price Targets

ABT has been the subject of several recent analyst reports. Citigroup boosted their price target on shares of Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Evercore ISI boosted their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Raymond James reissued a “buy” rating and issued a $124.00 price target on shares of Abbott Laboratories in a report on Wednesday. Royal Bank of Canada lowered 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 note on Thursday, April 18th. Finally, 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. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.50.

Insider Activity

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 42,500 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $112.50, for a total value of $4,781,250.00. Following the transaction, the executive vice president now owns 65,027 shares of the company’s stock, valued at $7,315,537.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Abbott Laboratories news, VP John A. Jr. Mccoy sold 472 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $118.50, for a total value of $55,932.00. Following the transaction, the vice president now owns 18,760 shares of the company’s stock, valued at $2,223,060. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Andrea F. Wainer sold 42,500 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 65,027 shares in the company, valued at approximately $7,315,537.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,435 shares of company stock valued at $6,451,298. 1.10% of the stock is currently owned by insiders.

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.