Arcadia Investment Management Corp MI Sells 1,265 Shares of Abbott Laboratories (NYSE:ABT)

Arcadia Investment Management Corp MI reduced its position in shares of Abbott Laboratories (NYSE:ABT) by 27.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,331 shares of the healthcare product maker’s stock after selling 1,265 shares during the quarter. Arcadia Investment Management Corp MI’s holdings in Abbott Laboratories were worth $377,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in ABT. Allspring Global Investments Holdings LLC grew its stake in shares of Abbott Laboratories by 17.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 268,538 shares of the healthcare product maker’s stock valued at $30,616,000 after purchasing an additional 40,783 shares during the period. Fulcrum Capital LLC grew its stake in shares of Abbott Laboratories by 1.6% during the 3rd quarter. Fulcrum Capital LLC now owns 43,619 shares of the healthcare product maker’s stock valued at $4,973,000 after acquiring an additional 673 shares during the period. Monte Financial Group LLC raised its stake in Abbott Laboratories by 8.3% during the 3rd quarter. Monte Financial Group LLC now owns 59,855 shares of the healthcare product maker’s stock worth $6,824,000 after acquiring an additional 4,610 shares during the period. McAdam LLC raised its stake in Abbott Laboratories by 10.2% during the 3rd quarter. McAdam LLC now owns 4,425 shares of the healthcare product maker’s stock worth $504,000 after acquiring an additional 410 shares during the period. Finally, Heartland Bank & Trust Co purchased a new stake in shares of Abbott Laboratories in the third quarter worth $569,000. 75.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Wells Fargo & Company raised their price objective on shares of Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Evercore ISI raised their price objective on shares of Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. Barclays restated an “overweight” rating and set a $158.00 price objective (up from $149.00) on shares of Abbott Laboratories in a research report on Monday, January 27th. UBS Group raised their price objective on shares of 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 downgraded shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.06.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT opened at $133.21 on Friday. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $133.28. The stock has a market capitalization of $231.05 billion, a P/E ratio of 17.41, a PEG ratio of 2.43 and a beta of 0.75. The firm has a fifty day simple moving average of $120.32 and a two-hundred day simple moving average of $116.65. 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 (NYSE:ABT) last issued its quarterly earnings data 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 analysts’ expectations of $11.03 billion. During the same period last year, the company posted $1.19 EPS. The business’s revenue was up 7.2% on a year-over-year basis. On average, analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Wednesday, January 15th were paid a dividend of $0.59 per share. The ex-dividend date was Wednesday, January 15th. This is a boost 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 1.77%. Abbott Laboratories’s payout ratio is currently 30.85%.

Insider Buying and Selling

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 125,697 shares of the company’s stock, valued at $16,152,064.50. The trade was a 15.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is owned by corporate insiders.

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.