New York Life Investment Management LLC Sells 46,710 Shares of Abbott Laboratories (NYSE:ABT)

New York Life Investment Management LLC decreased its holdings in Abbott Laboratories (NYSE:ABT) by 15.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 250,915 shares of the healthcare product maker’s stock after selling 46,710 shares during the period. New York Life Investment Management LLC’s holdings in Abbott Laboratories were worth $27,618,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Stuart Chaussee & Associates Inc. boosted its holdings in shares of Abbott Laboratories by 236.0% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 336 shares of the healthcare product maker’s stock valued at $37,000 after acquiring an additional 236 shares in the last quarter. Rise Advisors LLC acquired a new stake in shares of Abbott Laboratories during the 4th quarter valued at $37,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in shares of Abbott Laboratories during the 3rd quarter valued at $40,000. Cornerstone Planning Group LLC lifted its holdings in Abbott Laboratories by 79.4% during the 3rd quarter. Cornerstone Planning Group LLC now owns 454 shares of the healthcare product maker’s stock worth $44,000 after buying an additional 201 shares during the period. Finally, Bfsg LLC acquired a new position in Abbott Laboratories during the 4th quarter worth about $51,000. Institutional investors own 75.18% of the company’s stock.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 12,500 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the completion of the transaction, the executive vice president now directly owns 78,704 shares of the company’s stock, valued at $9,444,480. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Abbott Laboratories news, EVP Andrea F. Wainer sold 12,500 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the completion of the transaction, the executive vice president now directly owns 78,704 shares of the company’s stock, valued at $9,444,480. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP John A. Jr. Mccoy sold 472 shares of the stock in a transaction on 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 directly owns 18,760 shares of the company’s stock, valued at $2,223,060. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,935 shares of company stock valued at $1,670,048. 0.47% of the stock is owned by insiders.

Abbott Laboratories Stock Up 0.3 %

ABT stock traded up $0.32 during trading on Wednesday, reaching $106.29. 4,096,740 shares of the stock were exchanged, compared to its average volume of 5,607,345. The firm has a market cap of $184.43 billion, a P/E ratio of 33.23, a price-to-earnings-growth ratio of 2.58 and a beta of 0.74. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64. The firm’s 50 day moving average is $113.29 and its 200 day moving average is $108.44. The company has a current ratio of 1.64, a quick ratio of 1.16 and a debt-to-equity ratio of 0.35.

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

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend is Friday, April 12th. Abbott Laboratories’s payout ratio is 68.54%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ABT shares. Raymond James reaffirmed a “buy” rating and set a $124.00 target price on shares of Abbott Laboratories in a report on Wednesday, April 24th. Royal Bank of Canada cut their target price on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating on the stock in a research report on Thursday, April 18th. Citigroup upped their target price on Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Barclays cut their target price on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a research report on Monday, April 22nd. Finally, 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. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $121.50.

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.