Foster Victor Wealth Advisors LLC Lowers Stake in Abbott Laboratories (NYSE:ABT)

Foster Victor Wealth Advisors LLC trimmed its stake in Abbott Laboratories (NYSE:ABT) by 8.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,572 shares of the healthcare product maker’s stock after selling 320 shares during the period. Foster Victor Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $405,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Robeco Institutional Asset Management B.V. increased its position in shares of Abbott Laboratories by 88.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 500,979 shares of the healthcare product maker’s stock worth $56,666,000 after purchasing an additional 235,790 shares in the last quarter. Capital Investment Counsel LLC increased its position in Abbott Laboratories by 3.5% during the 4th quarter. Capital Investment Counsel LLC now owns 5,593 shares of the healthcare product maker’s stock valued at $633,000 after buying an additional 190 shares in the last quarter. Orca Wealth Management LLC purchased a new stake in Abbott Laboratories in the fourth quarter valued at about $288,000. BSW Wealth Partners boosted its holdings in Abbott Laboratories by 0.9% in the fourth quarter. BSW Wealth Partners now owns 12,426 shares of the healthcare product maker’s stock worth $1,405,000 after acquiring an additional 116 shares in the last quarter. Finally, Stonegate Investment Group LLC increased its holdings in shares of Abbott Laboratories by 1.0% during the fourth quarter. Stonegate Investment Group LLC now owns 79,552 shares of the healthcare product maker’s stock valued at $8,998,000 after acquiring an additional 758 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Trading Up 0.4 %

Shares of ABT opened at $127.86 on Thursday. The firm’s fifty day moving average is $115.71 and its two-hundred day moving average is $113.80. The stock has a market cap of $221.77 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 2.51 and a beta of 0.73. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $129.85.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.34. The company had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $11.03 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. Abbott Laboratories’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.19 EPS. Research analysts forecast that Abbott Laboratories will post 5.15 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a $0.59 dividend. The ex-dividend date is Wednesday, January 15th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.85%. Abbott Laboratories’s dividend payout ratio (DPR) is 30.85%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on ABT shares. UBS Group boosted their target price on shares of Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Royal Bank of Canada reissued an “outperform” rating and issued a $135.00 price objective on shares of Abbott Laboratories in a report on Tuesday, January 21st. Morgan Stanley raised their price target on shares of Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Raymond James reiterated a “buy” rating and issued a $129.00 price objective (up previously from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Finally, Oppenheimer started coverage on shares of Abbott Laboratories in a research report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $133.06.

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.