Argonautica Private Wealth Management Inc. Cuts Stock Holdings in Abbott Laboratories (NYSE:ABT)

Argonautica Private Wealth Management Inc. cut its position in shares of Abbott Laboratories (NYSE:ABT) by 0.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,042 shares of the healthcare product maker’s stock after selling 219 shares during the quarter. Abbott Laboratories comprises 1.5% of Argonautica Private Wealth Management Inc.’s portfolio, making the stock its 16th biggest position. Argonautica Private Wealth Management Inc.’s holdings in Abbott Laboratories were worth $4,755,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Peterson Financial Group Inc. purchased a new position in shares of Abbott Laboratories in the 3rd quarter valued at $32,000. Valued Wealth Advisors LLC raised its position in 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 purchasing an additional 127 shares during the period. Wingate Wealth Advisors Inc. acquired a new position in shares of Abbott Laboratories during the fourth quarter worth about $34,000. Highline Wealth Partners LLC purchased a new position in Abbott Laboratories in the 3rd quarter worth approximately $37,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Abbott Laboratories during the fourth quarter valued at about $37,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Shares of ABT opened at $136.03 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The firm has a market cap of $235.94 billion, a PE ratio of 17.78, a PEG ratio of 2.52 and a beta of 0.74. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $136.59. The firm’s 50 day moving average price is $121.65 and its 200 day moving average price is $117.30.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data 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 business had revenue of $10.97 billion during the quarter, compared to analyst estimates of $11.03 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. Abbott Laboratories’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.19 EPS. As a group, research analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories’s payout ratio is 30.85%.

Analyst Ratings Changes

ABT has been the topic of a number of recent analyst reports. Wells Fargo & Company upped their target price on shares of Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Barclays reissued an “overweight” rating and set a $158.00 price target (up from $149.00) on shares of Abbott Laboratories in a research report on Monday, January 27th. Argus upgraded shares of Abbott Laboratories to a “strong-buy” rating in a research report on Tuesday, January 28th. Royal Bank of Canada reiterated an “outperform” rating and set a $135.00 price target on shares of Abbott Laboratories in a research report on Tuesday, January 21st. Finally, UBS Group boosted their price objective on Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $133.06.

Insider Buying and Selling

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of Abbott Laboratories stock in a transaction on 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 transaction, the executive vice president now owns 125,697 shares in the company, valued at $16,152,064.50. This trade represents a 15.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.47% of the company’s stock.

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.