Cherry Tree Wealth Management LLC Sells 211 Shares of Abbott Laboratories (NYSE:ABT)

Cherry Tree Wealth Management LLC lessened its position in Abbott Laboratories (NYSE:ABT) by 47.2% in the 4th quarter, Holdings Channel reports. The firm owned 236 shares of the healthcare product maker’s stock after selling 211 shares during the period. Cherry Tree Wealth Management LLC’s holdings in Abbott Laboratories were worth $26,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Zevenbergen Capital Investments LLC grew its stake in Abbott Laboratories by 0.6% in the third quarter. Zevenbergen Capital Investments LLC now owns 21,419 shares of the healthcare product maker’s stock valued at $2,074,000 after acquiring an additional 130 shares during the period. Perigon Wealth Management LLC increased its stake in Abbott Laboratories by 5.2% during the 4th quarter. Perigon Wealth Management LLC now owns 47,080 shares of the healthcare product maker’s stock worth $5,182,000 after purchasing an additional 2,317 shares in the last quarter. Rockland Trust Co. lifted its stake in Abbott Laboratories by 1.5% in the third quarter. Rockland Trust Co. now owns 91,868 shares of the healthcare product maker’s stock valued at $8,897,000 after buying an additional 1,343 shares in the last quarter. Boston Partners boosted its holdings in shares of Abbott Laboratories by 634.6% in the third quarter. Boston Partners now owns 29,758 shares of the healthcare product maker’s stock valued at $2,882,000 after buying an additional 25,707 shares during the period. Finally, VisionPoint Advisory Group LLC increased its position in shares of Abbott Laboratories by 7.4% during the third quarter. VisionPoint Advisory Group LLC now owns 3,106 shares of the healthcare product maker’s stock worth $301,000 after acquiring an additional 215 shares in the last quarter. 75.18% of the stock is owned by institutional investors.

Insiders Place Their Bets

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 transaction 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 filing with the SEC, which is accessible through this link. In related news, VP John A. Jr. Mccoy sold 472 shares of the business’s stock in a transaction on Friday, March 1st. The stock was 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 directly owns 18,760 shares in the company, valued at approximately $2,223,060. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Andrea F. Wainer sold 12,500 shares of the firm’s stock in a transaction dated 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. Insiders sold a total of 13,935 shares of company stock valued at $1,670,048 over the last ninety days. 0.47% of the stock is currently owned by company insiders.

Abbott Laboratories Stock Performance

NYSE ABT traded up $0.53 on Tuesday, hitting $106.17. 6,555,967 shares of the stock were exchanged, compared to its average volume of 5,552,894. The business’s fifty day moving average is $112.00 and its 200 day moving average is $108.85. Abbott Laboratories has a 52 week low of $89.67 and a 52 week high of $121.64. The company has a market capitalization of $184.70 billion, a PE ratio of 33.07, a P/E/G ratio of 2.55 and a beta of 0.76. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.11.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.02. The business had revenue of $9.96 billion during the quarter, compared to the consensus estimate of $9.88 billion. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. Abbott Laboratories’s revenue was up 2.2% on a year-over-year basis. During the same period last year, the business posted $1.03 EPS. Research analysts anticipate that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

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 paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Friday, April 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ABT shares. Barclays cut their price objective on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a research report on Monday, April 22nd. Evercore ISI upped their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Royal Bank of Canada dropped 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. Raymond James reaffirmed a “buy” rating and set a $124.00 price target on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Finally, Citigroup raised their price target on shares of Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.