Prudent Man Advisors LLC Sells 1,620 Shares of Abbott Laboratories (NYSE:ABT)

Prudent Man Advisors LLC cut its holdings in shares of Abbott Laboratories (NYSE:ABT) by 10.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,113 shares of the healthcare product maker’s stock after selling 1,620 shares during the quarter. Prudent Man Advisors LLC’s holdings in Abbott Laboratories were worth $1,596,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Noble Wealth Management PBC purchased a new position in Abbott Laboratories in the fourth quarter worth about $26,000. Peterson Financial Group Inc. purchased a new position in Abbott Laboratories in the third quarter worth about $32,000. Valued Wealth Advisors LLC boosted its position in shares of Abbott Laboratories by 78.4% during the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after buying an additional 127 shares during the period. Wingate Wealth Advisors Inc. purchased a new position in shares of Abbott Laboratories during the fourth quarter valued at approximately $34,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of Abbott Laboratories during the fourth quarter valued at approximately $37,000. 75.18% of the stock is owned by institutional investors.

Insider Buying and Selling at Abbott Laboratories

In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 125,697 shares of the company’s stock, valued at $16,152,064.50. This represents a 15.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.10% of the stock is owned by corporate insiders.

Abbott Laboratories Price Performance

Shares of ABT opened at $137.99 on Friday. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $138.37. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The firm has a market capitalization of $239.32 billion, a PE ratio of 18.04, a price-to-earnings-growth ratio of 2.52 and a beta of 0.75. The company’s fifty day moving average price is $123.08 and its 200-day moving average price is $117.77.

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

Abbott Laboratories Dividend Announcement

The firm 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 1.71%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories’s payout ratio is 30.85%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ABT. 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. Argus upgraded Abbott Laboratories to a “strong-buy” rating in a research report on Tuesday, January 28th. Barclays restated an “overweight” rating and set a $158.00 target price (up previously from $149.00) on shares of Abbott Laboratories in a research report on Monday, January 27th. Evercore ISI boosted their target price on Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. Finally, StockNews.com downgraded shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Four investment 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 stock. According to data from MarketBeat, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus price target of $133.06.

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.