NewEdge Wealth LLC Sells 1,003 Shares of Abbott Laboratories (NYSE:ABT)

NewEdge Wealth LLC reduced its stake in Abbott Laboratories (NYSE:ABT) by 2.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,371 shares of the healthcare product maker’s stock after selling 1,003 shares during the period. NewEdge Wealth LLC’s holdings in Abbott Laboratories were worth $4,340,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Mutual Advisors LLC grew its holdings in Abbott Laboratories by 1.8% in the third quarter. Mutual Advisors LLC now owns 22,231 shares of the healthcare product maker’s stock worth $2,591,000 after purchasing an additional 386 shares during the period. Pathway Financial Advisers LLC grew its holdings in Abbott Laboratories by 99.9% in the third quarter. Pathway Financial Advisers LLC now owns 2,765 shares of the healthcare product maker’s stock worth $315,000 after purchasing an additional 1,382 shares during the period. Highline Wealth Partners LLC purchased a new stake in Abbott Laboratories in the third quarter worth about $37,000. Pinnacle Associates Ltd. grew its holdings in Abbott Laboratories by 6.4% in the third quarter. Pinnacle Associates Ltd. now owns 102,454 shares of the healthcare product maker’s stock worth $11,277,000 after purchasing an additional 6,146 shares during the period. Finally, SteelPeak Wealth LLC grew its holdings in Abbott Laboratories by 49.9% in the third quarter. SteelPeak Wealth LLC now owns 17,302 shares of the healthcare product maker’s stock worth $1,973,000 after purchasing an additional 5,756 shares during the period. 75.18% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ABT has been the topic of a number of recent research reports. Wells Fargo & Company upped their price objective on shares of Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Royal Bank of Canada reiterated an “outperform” rating and set a $135.00 price target on shares of Abbott Laboratories in a report on Tuesday, January 21st. 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. Evercore ISI increased their price target on shares of Abbott Laboratories to $136.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. Finally, Stifel Nicolaus increased their price target on shares of Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.06.

Insider Transactions at Abbott Laboratories

In other 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 sale, the executive vice president now directly owns 125,697 shares in the company, 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 SEC, which is available at the SEC website. Insiders own 1.10% of the company’s stock.

Abbott Laboratories Stock Down 0.1 %

ABT opened at $135.89 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $136.99. The firm’s fifty day moving average is $122.60 and its 200 day moving average is $117.56. The stock has a market cap of $235.67 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 2.52 and a beta of 0.75.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, hitting the consensus estimate of $1.34. The business had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $11.03 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.19 EPS. On average, sell-side analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a $0.59 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.74%. Abbott Laboratories’s dividend payout ratio (DPR) 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.