Abbott Laboratories (NYSE:ABT) Position Cut by Tucker Asset Management LLC

Tucker Asset Management LLC lessened its position in Abbott Laboratories (NYSE:ABT) by 14.3% during the fourth quarter, Holdings Channel reports. The fund owned 3,879 shares of the healthcare product maker’s stock after selling 645 shares during the quarter. Tucker Asset Management LLC’s holdings in Abbott Laboratories were worth $439,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ABT. Noble Wealth Management PBC bought a new position in Abbott Laboratories in the 4th quarter worth approximately $26,000. NewSquare Capital LLC increased its holdings in shares of Abbott Laboratories by 78.4% in the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock valued at $27,000 after buying an additional 105 shares in the last quarter. WealthTrak Capital Management LLC bought a new stake in shares of Abbott Laboratories during the 4th quarter worth $28,000. Rialto Wealth Management LLC acquired a new position in shares of Abbott Laboratories in the 4th quarter worth $29,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in shares of Abbott Laboratories during the fourth quarter valued at $34,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Abbott Laboratories news, SVP Eric Shroff sold 562 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $138.17, for a total transaction of $77,651.54. Following the completion of the transaction, the senior vice president now owns 31,970 shares of the company’s stock, valued at approximately $4,417,294.90. The trade was a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lisa D. Earnhardt sold 91,167 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $133.82, for a total transaction of $12,199,967.94. Following the sale, the executive vice president now directly owns 71,928 shares in the company, valued at $9,625,404.96. The trade was a 55.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 116,449 shares of company stock worth $15,463,316 over the last ninety days. Corporate insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on ABT. Stifel Nicolaus lifted their price objective on shares of Abbott Laboratories from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. StockNews.com cut Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. Citigroup raised their price objective on shares of Abbott Laboratories from $135.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Evercore ISI boosted their price objective on shares of Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Finally, UBS Group lifted their target price on shares of Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $137.94.

Abbott Laboratories Stock Down 0.4 %

Shares of ABT stock opened at $130.81 on Friday. The firm has a market capitalization of $226.87 billion, a P/E ratio of 17.10, a PEG ratio of 2.52 and a beta of 0.70. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23. The firm’s fifty day moving average price is $130.05 and its two-hundred day moving average price is $120.34.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results 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 business had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $11.03 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.19 EPS. On average, equities analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories’s payout ratio is currently 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.