Marietta Investment Partners LLC Has $2.24 Million Position in Abbott Laboratories (NYSE:ABT)

Marietta Investment Partners LLC lowered its position in Abbott Laboratories (NYSE:ABT) by 2.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,780 shares of the healthcare product maker’s stock after selling 446 shares during the period. Marietta Investment Partners LLC’s holdings in Abbott Laboratories were worth $2,237,000 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 ABT. Groupama Asset Managment increased its holdings in Abbott Laboratories by 22.2% in the third quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after buying an additional 41,557 shares during the last quarter. Noble Wealth Management PBC acquired a new position in Abbott Laboratories during the fourth quarter valued at approximately $26,000. NewSquare Capital LLC grew its holdings in Abbott Laboratories by 78.4% during the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock valued at $27,000 after purchasing an additional 105 shares during the last quarter. Rialto Wealth Management LLC acquired a new position in Abbott Laboratories during the fourth quarter valued at approximately $29,000. Finally, Wingate Wealth Advisors Inc. acquired a new position in Abbott Laboratories during the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Transactions at Abbott Laboratories

In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of Abbott Laboratories stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $128.50, for a total transaction 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. The trade was a 15.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Andrea F. Wainer sold 949 shares of Abbott Laboratories stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $138.17, for a total value of $131,123.33. Following the transaction, the executive vice president now owns 74,381 shares in the company, valued at $10,277,222.77. This trade represents a 1.26 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 116,449 shares of company stock worth $15,463,316. 1.10% of the stock is currently owned by company insiders.

Abbott Laboratories Stock Down 0.5 %

Shares of NYSE ABT opened at $126.18 on Friday. The stock has a market cap of $218.83 billion, a PE ratio of 16.49, a PEG ratio of 2.52 and a beta of 0.70. The business has a fifty day moving average of $128.51 and a two-hundred day moving average of $119.86. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $141.23. 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 (NYSE:ABT) last announced its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, hitting analysts’ consensus estimates of $1.34. The firm had revenue of $10.97 billion during the quarter, compared to analyst estimates of $11.03 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The company’s revenue was up 7.2% on a year-over-year basis. During the same period last year, the company earned $1.19 earnings per share. As a group, equities research analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The business 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 dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.87%. Abbott Laboratories’s payout ratio is currently 30.85%.

Analysts Set New Price Targets

ABT has been the topic of several analyst reports. Bank of America increased their price target on Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a report on Monday, March 10th. StockNews.com downgraded shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Wells Fargo & Company raised their price objective on shares of Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Argus upgraded shares of Abbott Laboratories to a “strong-buy” rating in a research note on Tuesday, January 28th. Finally, UBS Group raised 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. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.94.

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.