Abbott Laboratories (NYSE:ABT) Shares Sold by Wrapmanager Inc.

Wrapmanager Inc. lessened its holdings in shares of Abbott Laboratories (NYSE:ABT) by 9.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,740 shares of the healthcare product maker’s stock after selling 1,684 shares during the quarter. Wrapmanager Inc.’s holdings in Abbott Laboratories were worth $1,894,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of ABT. Welch Group LLC boosted its position in Abbott Laboratories by 5.3% during the 4th quarter. Welch Group LLC now owns 68,653 shares of the healthcare product maker’s stock worth $7,744,000 after purchasing an additional 3,479 shares during the period. Bath Savings Trust Co boosted its position in shares of Abbott Laboratories by 3.7% in the fourth quarter. Bath Savings Trust Co now owns 166,132 shares of the healthcare product maker’s stock worth $18,791,000 after buying an additional 5,881 shares during the period. Bank Pictet & Cie Europe AG raised its holdings in shares of Abbott Laboratories by 1.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker’s stock valued at $17,274,000 after buying an additional 2,774 shares during the period. Simplify Asset Management Inc. boosted its holdings in Abbott Laboratories by 67.3% in the 3rd quarter. Simplify Asset Management Inc. now owns 14,083 shares of the healthcare product maker’s stock worth $1,606,000 after acquiring an additional 5,664 shares during the period. Finally, Pensionfund Sabic acquired a new stake in Abbott Laboratories in the fourth quarter valued at approximately $2,828,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ABT. Barclays restated an “overweight” rating and issued a $158.00 target price (up from $149.00) on shares of Abbott Laboratories in a research note on Monday, January 27th. Evercore ISI raised their target price on Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. Stifel Nicolaus increased their price target on Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. UBS Group upped their target price on Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Finally, StockNews.com lowered shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus target price of $133.06.

Insider Buying and Selling at Abbott Laboratories

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $128.50, for a total value of $3,054,573.50. Following the sale, the executive vice president now directly owns 125,697 shares in the company, valued at $16,152,064.50. The trade was a 15.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.47% of the stock is currently owned by corporate insiders.

Abbott Laboratories Stock Down 0.1 %

ABT opened at $134.81 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $136.59. The stock’s 50 day moving average price is $121.20 and its 200 day moving average price is $117.11. The stock has a market cap of $233.82 billion, a P/E ratio of 17.62, a P/E/G ratio of 2.52 and a beta of 0.74.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, hitting the consensus estimate of $1.34. The business had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $11.03 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.19 earnings per share. As a group, research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a $0.59 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.75%. Abbott Laboratories’s dividend payout ratio (DPR) is 30.85%.

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.