Invenio Wealth Partners LLC Decreases Holdings in Abbott Laboratories (NYSE:ABT)

Invenio Wealth Partners LLC lowered its stake in Abbott Laboratories (NYSE:ABT) by 4.3% in the 4th quarter, HoldingsChannel reports. The fund owned 3,700 shares of the healthcare product maker’s stock after selling 168 shares during the period. Invenio Wealth Partners LLC’s holdings in Abbott Laboratories were worth $419,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ABT. Cape Investment Advisory Inc. raised its holdings in Abbott Laboratories by 6.6% during the 4th quarter. Cape Investment Advisory Inc. now owns 1,236 shares of the healthcare product maker’s stock valued at $140,000 after buying an additional 76 shares during the period. Cyrus J. Lawrence LLC raised its stake in shares of Abbott Laboratories by 9.0% in the fourth quarter. Cyrus J. Lawrence LLC now owns 954 shares of the healthcare product maker’s stock valued at $107,000 after acquiring an additional 79 shares during the period. LMG Wealth Partners LLC lifted its holdings in shares of Abbott Laboratories by 3.8% in the 4th quarter. LMG Wealth Partners LLC now owns 2,161 shares of the healthcare product maker’s stock worth $244,000 after acquiring an additional 80 shares during the last quarter. Jacobson & Schmitt Advisors LLC boosted its stake in shares of Abbott Laboratories by 2.9% during the 4th quarter. Jacobson & Schmitt Advisors LLC now owns 2,827 shares of the healthcare product maker’s stock worth $320,000 after purchasing an additional 80 shares during the period. Finally, Glass Wealth Management Co LLC grew its holdings in Abbott Laboratories by 3.2% during the 4th quarter. Glass Wealth Management Co LLC now owns 2,640 shares of the healthcare product maker’s stock valued at $299,000 after purchasing an additional 81 shares during the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Trading Up 1.5 %

Shares of NYSE:ABT opened at $132.76 on Tuesday. The company has a market capitalization of $230.25 billion, a PE ratio of 17.35, a P/E/G 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 12-month low of $99.71 and a 12-month high of $141.23. The business’s fifty day simple moving average is $130.44 and its 200-day simple moving average is $120.51.

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

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Tuesday, April 15th. Abbott Laboratories’s dividend payout ratio is currently 30.85%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ABT shares. Royal Bank of Canada restated an “outperform” rating and set a $135.00 target price on shares of Abbott Laboratories in a research report on Tuesday, January 21st. Evercore ISI upped their price objective on Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. StockNews.com downgraded Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. The Goldman Sachs Group upped their price target on shares of Abbott Laboratories from $138.00 to $154.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Finally, UBS Group lifted their price objective on shares of Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.94.

Insider Activity

In related news, SVP Eric Shroff sold 562 shares of Abbott Laboratories stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $138.17, for a total value of $77,651.54. Following the completion of the sale, the senior vice president now directly owns 31,970 shares in the company, valued at $4,417,294.90. This trade represents a 1.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the company’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 transaction of $3,054,573.50. Following the transaction, the executive vice president now owns 125,697 shares in the company, valued at $16,152,064.50. The trade was a 15.90 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 116,449 shares of company stock worth $15,463,316. Insiders own 0.46% of the company’s stock.

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.