Abbott Laboratories (NYSE:ABT) Shares Sold by Pinnacle Wealth Planning Services Inc.

Pinnacle Wealth Planning Services Inc. trimmed its holdings in Abbott Laboratories (NYSE:ABT) by 12.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,806 shares of the healthcare product maker’s stock after selling 1,383 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in Abbott Laboratories were worth $1,109,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Cape Investment Advisory Inc. boosted its stake in Abbott Laboratories by 6.6% in the 4th quarter. Cape Investment Advisory Inc. now owns 1,236 shares of the healthcare product maker’s stock worth $140,000 after buying an additional 76 shares during the last quarter. LMG Wealth Partners LLC boosted its stake in Abbott Laboratories by 3.8% in the 4th quarter. LMG Wealth Partners LLC now owns 2,161 shares of the healthcare product maker’s stock worth $244,000 after buying an additional 80 shares during the last quarter. Jacobson & Schmitt Advisors LLC boosted its stake in Abbott Laboratories by 2.9% in the 4th quarter. Jacobson & Schmitt Advisors LLC now owns 2,827 shares of the healthcare product maker’s stock worth $320,000 after buying an additional 80 shares during the last quarter. Glass Wealth Management Co LLC boosted its stake in Abbott Laboratories by 3.2% in the 4th quarter. Glass Wealth Management Co LLC now owns 2,640 shares of the healthcare product maker’s stock worth $299,000 after buying an additional 81 shares during the last quarter. Finally, Sfmg LLC raised its holdings in shares of Abbott Laboratories by 1.9% in the 3rd 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 period. 75.18% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Abbott Laboratories

In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of Abbott Laboratories 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 in the company, valued at approximately $16,152,064.50. This trade represents a 15.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Andrea F. Wainer sold 949 shares of Abbott Laboratories stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $138.17, for a total value of $131,123.33. Following the completion of the transaction, the executive vice president now owns 74,381 shares of the company’s stock, valued at approximately $10,277,222.77. The trade was a 1.26 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,282 shares of company stock worth $3,263,348. 1.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on ABT shares. Stifel Nicolaus raised their price objective on Abbott Laboratories from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Evercore ISI raised their price objective on Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $135.00 price objective on shares of Abbott Laboratories in a report on Tuesday, January 21st. Wells Fargo & Company raised their target price on Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Finally, Barclays reiterated an “overweight” rating and set a $158.00 target price (up from $149.00) on shares of Abbott Laboratories in a report on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $137.19.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $137.68 on Thursday. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $141.23. The business has a 50 day moving average price of $124.51 and a two-hundred day moving average price of $118.42. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The firm has a market cap of $238.79 billion, a PE ratio of 18.00, a price-to-earnings-growth ratio of 2.52 and a beta of 0.75.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.34. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The firm had revenue of $10.97 billion during the quarter, compared to analyst estimates of $11.03 billion. During the same quarter last year, the firm earned $1.19 EPS. Abbott Laboratories’s quarterly revenue was up 7.2% on a year-over-year basis. Sell-side analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a $0.59 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.71%. Abbott Laboratories’s payout ratio is 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.