By otakuyassine3@gmail.com 
Ferguson Wellman Capital Management Inc. trimmed its position in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 228,429 shares of the healthcare product maker’s stock after selling 6,340 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Abbott Laboratories were worth $25,838,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ABT. Groupama Asset Managment lifted its stake in Abbott Laboratories by 22.2% in the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock valued at $26,000 after purchasing an additional 41,557 shares during the last quarter. Peterson Financial Group Inc. bought a new stake in Abbott Laboratories in the third quarter valued at approximately $32,000. Valued Wealth Advisors LLC lifted its position in shares of Abbott Laboratories by 78.4% in 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 last quarter. Highline Wealth Partners LLC acquired a new position in shares of Abbott Laboratories during the 3rd quarter worth approximately $37,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in Abbott Laboratories in the 4th quarter valued at $37,000. 75.18% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several equities analysts have commented on ABT shares. Raymond James reiterated a “buy” rating and issued a $129.00 price objective (up from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. UBS Group increased their price target 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. Jefferies Financial Group boosted their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Royal Bank of Canada reiterated an “outperform” rating and set a $135.00 target price on shares of Abbott Laboratories in a research note on Tuesday, January 21st. Finally, StockNews.com upgraded Abbott Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $133.06.
Get Our Latest Stock Analysis on Abbott Laboratories
Insider Transactions at Abbott Laboratories
In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $128.50, for a total value of $3,054,573.50. Following the completion of the transaction, the executive vice president now owns 125,697 shares of the company’s stock, valued at $16,152,064.50. This represents a 15.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 1.10% of the company’s stock.
Abbott Laboratories Stock Performance
Shares of NYSE:ABT opened at $129.11 on Monday. The company’s 50 day simple moving average is $117.46 and its 200 day simple moving average is $115.18. 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 1 year low of $99.71 and a 1 year high of $132.50. The stock has a market capitalization of $223.93 billion, a price-to-earnings ratio of 16.88, a price-to-earnings-growth ratio of 2.39 and a beta of 0.75.
Abbott Laboratories (NYSE:ABT – Get Free Report) last announced 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 return on equity of 20.74% and a net margin of 31.95%. Abbott Laboratories’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.19 EPS. As a group, research analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.
Abbott Laboratories Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend is Wednesday, January 15th. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s payout ratio is presently 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.
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