Abbott Laboratories (NYSE:ABT) Shares Sold by Cypress Capital Group

Cypress Capital Group decreased its stake in shares of Abbott Laboratories (NYSE:ABT) by 4.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 73,476 shares of the healthcare product maker’s stock after selling 3,172 shares during the period. Abbott Laboratories accounts for 1.0% of Cypress Capital Group’s portfolio, making the stock its 23rd largest position. Cypress Capital Group’s holdings in Abbott Laboratories were worth $8,311,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Cape Investment Advisory Inc. increased its position in Abbott Laboratories by 6.6% during the fourth quarter. Cape Investment Advisory Inc. now owns 1,236 shares of the healthcare product maker’s stock worth $140,000 after purchasing an additional 76 shares during the last quarter. LMG Wealth Partners LLC increased its position in Abbott Laboratories by 3.8% during the fourth quarter. LMG Wealth Partners LLC now owns 2,161 shares of the healthcare product maker’s stock worth $244,000 after purchasing an additional 80 shares during the last quarter. Jacobson & Schmitt Advisors LLC increased its position in Abbott Laboratories by 2.9% during the fourth 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 last quarter. Sfmg LLC increased its position in Abbott Laboratories by 1.9% during the third quarter. Sfmg LLC now owns 4,622 shares of the healthcare product maker’s stock worth $527,000 after purchasing an additional 88 shares during the last quarter. Finally, River Street Advisors LLC increased its position in Abbott Laboratories by 1.2% during the fourth quarter. River Street Advisors LLC now owns 7,370 shares of the healthcare product maker’s stock worth $834,000 after purchasing an additional 88 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Trading Down 1.8 %

ABT opened at $137.65 on Wednesday. The stock has a market capitalization of $238.73 billion, a PE ratio of 17.99, a P/E/G ratio of 2.52 and a beta of 0.75. The firm’s fifty day moving average price is $124.05 and its 200 day moving average price is $118.28. 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 12-month low of $99.71 and a 12-month high of $141.23.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.34. The firm 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 firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.19 earnings per share. As a group, research analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $2.36 annualized dividend and a yield of 1.71%. Abbott Laboratories’s dividend payout ratio is presently 30.85%.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 125,697 shares of the company’s stock, valued at approximately $16,152,064.50. This represents a 15.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Eric Shroff sold 562 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $138.17, for a total transaction of $77,651.54. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,282 shares of company stock valued at $3,263,348 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group boosted their price objective on shares of Abbott Laboratories from $138.00 to $154.00 and gave the stock a “buy” rating in a research note on Tuesday. Citigroup boosted their price objective on shares of Abbott Laboratories from $135.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday. Argus upgraded shares of Abbott Laboratories to a “strong-buy” rating in a research note on Tuesday, January 28th. UBS Group boosted their price objective on shares of Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Finally, Barclays reiterated an “overweight” rating and set a $158.00 price objective (up from $149.00) on shares of Abbott Laboratories in a research note on Monday, January 27th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.19.

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.