Dover Advisors LLC Has $1.56 Million Stake in Abbott Laboratories (NYSE:ABT)

Dover Advisors LLC cut its stake in shares of Abbott Laboratories (NYSE:ABT) by 29.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,153 shares of the healthcare product maker’s stock after selling 5,976 shares during the quarter. Abbott Laboratories accounts for about 2.0% of Dover Advisors LLC’s portfolio, making the stock its 13th largest position. Dover Advisors LLC’s holdings in Abbott Laboratories were worth $1,558,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Stuart Chaussee & Associates Inc. grew its holdings 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 purchasing an additional 236 shares during the period. Rise Advisors LLC purchased a new stake in shares of Abbott Laboratories during the 4th quarter valued at approximately $37,000. Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of Abbott Laboratories in the third quarter worth $40,000. Cornerstone Planning Group LLC boosted its stake in Abbott Laboratories by 79.4% in the 3rd quarter. Cornerstone Planning Group LLC now owns 454 shares of the healthcare product maker’s stock worth $44,000 after purchasing an additional 201 shares during the period. Finally, Bfsg LLC purchased a new position in Abbott Laboratories during the fourth quarter valued at approximately $51,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Abbott Laboratories

In other news, VP John A. Jr. Mccoy sold 472 shares of the firm’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 sale, the vice president now directly owns 18,760 shares in the company, valued at approximately $2,223,060. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Abbott Laboratories news, EVP Andrea F. Wainer sold 12,500 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 78,704 shares of the company’s stock, valued at approximately $9,444,480. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP John A. Jr. Mccoy sold 472 shares of the business’s stock in a transaction 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 directly owns 18,760 shares in the company, valued at $2,223,060. The disclosure for this sale can be found here. Insiders have sold a total of 56,435 shares of company stock valued at $6,451,298 over the last quarter. 1.10% of the stock is owned by corporate insiders.

Abbott Laboratories Trading Up 0.6 %

Shares of NYSE ABT traded up $0.67 during midday trading on Friday, hitting $107.53. 3,575,566 shares of the company traded hands, compared to its average volume of 5,219,304. The stock has a 50-day moving average price of $113.64 and a 200 day moving average price of $108.22. The firm has a market cap of $186.58 billion, a P/E ratio of 33.50, a P/E/G ratio of 2.59 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 has a 12-month low of $89.67 and a 12-month high of $121.64.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. The firm had revenue of $9.96 billion during 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 for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.03 earnings per share. As a group, analysts expect that Abbott Laboratories will post 4.62 earnings per share for the current year.

Abbott Laboratories Announces Dividend

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

Analyst Ratings Changes

Several equities analysts recently commented on ABT shares. Barclays reduced their target price on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a research report on Monday, April 22nd. Raymond James reaffirmed a “buy” rating and issued a $124.00 price target on shares of Abbott Laboratories in a research note on Wednesday. Citigroup increased their price objective on Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Royal Bank of Canada lowered 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, April 18th. Finally, 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. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $121.50.

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.