Abbott Laboratories (NYSE:ABT) Stake Cut by Welch & Forbes LLC

Welch & Forbes LLC trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 638,659 shares of the healthcare product maker’s stock after selling 3,769 shares during the period. Welch & Forbes LLC’s holdings in Abbott Laboratories were worth $70,297,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in shares of Abbott Laboratories by 13.7% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,333 shares of the healthcare product maker’s stock worth $1,578,000 after acquiring an additional 1,731 shares during the period. Apollon Wealth Management LLC increased its stake in shares of Abbott Laboratories by 41.1% in the fourth quarter. Apollon Wealth Management LLC now owns 64,490 shares of the healthcare product maker’s stock valued at $7,098,000 after purchasing an additional 18,779 shares during the period. Lincoln National Corp boosted its position in shares of Abbott Laboratories by 7.7% during the fourth quarter. Lincoln National Corp now owns 64,846 shares of the healthcare product maker’s stock worth $7,138,000 after buying an additional 4,610 shares during the period. Maryland State Retirement & Pension System grew its holdings in Abbott Laboratories by 1.1% in the 4th quarter. Maryland State Retirement & Pension System now owns 134,773 shares of the healthcare product maker’s stock worth $14,834,000 after buying an additional 1,435 shares in the last quarter. Finally, Private Advisor Group LLC increased its position in Abbott Laboratories by 18.0% in the 4th quarter. Private Advisor Group LLC now owns 167,778 shares of the healthcare product maker’s stock valued at $18,467,000 after acquiring an additional 25,629 shares during the period. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Trading Down 0.3 %

Shares of NYSE ABT traded down $0.27 during mid-day trading on Monday, hitting $105.63. 3,789,472 shares of the company traded hands, compared to its average volume of 5,541,432. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $121.64. The stock has a market capitalization of $183.29 billion, a price-to-earnings ratio of 32.91, a PEG ratio of 2.55 and a beta of 0.76. The business has a 50 day moving average of $112.26 and a two-hundred day moving average of $108.78.

Abbott Laboratories (NYSE:ABT) last announced its earnings results 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 company 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 20.18%. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period last year, the company posted $1.03 earnings per share. On average, sell-side analysts anticipate that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.08%. The ex-dividend date is Friday, April 12th. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

Insiders Place Their Bets

In other Abbott Laboratories news, VP John A. Jr. Mccoy sold 472 shares of the stock in a transaction that occurred 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 completion of the sale, the vice president now owns 18,760 shares in the company, valued at approximately $2,223,060. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, 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 transaction of $55,932.00. Following the transaction, the vice president now owns 18,760 shares in the company, valued at approximately $2,223,060. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 transaction, the executive vice president now directly owns 78,704 shares in the company, valued at $9,444,480. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,935 shares of company stock worth $1,670,048. 1.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ABT. Citigroup increased their price target on Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. 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 note on Thursday, April 4th. Raymond James reaffirmed a “buy” rating and issued a $124.00 price target on shares of Abbott Laboratories in a research note on Wednesday, April 24th. Barclays dropped their target price on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a report on Monday, April 22nd. Finally, Royal Bank of Canada decreased their price target on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a research note on Thursday, April 18th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $121.50.

Abbott Laboratories Company 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.