Prudential Financial Inc. Has $267.05 Million Position in Abbott Laboratories (NYSE:ABT)

Prudential Financial Inc. decreased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 11.0% in the fourth quarter, Holdings Channel reports. The firm owned 2,360,985 shares of the healthcare product maker’s stock after selling 290,965 shares during the quarter. Prudential Financial Inc.’s holdings in Abbott Laboratories were worth $267,051,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in ABT. Cape Investment Advisory Inc. raised its holdings in shares of Abbott Laboratories by 6.6% during 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 in the last quarter. Cyrus J. Lawrence LLC grew its position in Abbott Laboratories by 9.0% in the fourth quarter. Cyrus J. Lawrence LLC now owns 954 shares of the healthcare product maker’s stock valued at $107,000 after acquiring an additional 79 shares during the last quarter. Jacobson & Schmitt Advisors LLC lifted its holdings in shares of Abbott Laboratories by 2.9% in the fourth quarter. Jacobson & Schmitt Advisors LLC now owns 2,827 shares of the healthcare product maker’s stock worth $320,000 after acquiring an additional 80 shares during the last quarter. LMG Wealth Partners LLC boosted its stake in shares of 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 valued at $244,000 after purchasing an additional 80 shares in the last quarter. Finally, Glass Wealth Management Co LLC grew its holdings in shares of Abbott Laboratories by 3.2% during the 4th quarter. Glass Wealth Management Co LLC now owns 2,640 shares of the healthcare product maker’s stock valued at $299,000 after purchasing an additional 81 shares during the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $126.18 on Monday. 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 capitalization of $218.83 billion, a P/E ratio of 16.49, a P/E/G ratio of 2.52 and a beta of 0.70. The company has a fifty day moving average of $128.51 and a 200-day moving average of $119.94. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $141.23.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, meeting analysts’ consensus estimates of $1.34. The company had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $11.03 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. Abbott Laboratories’s revenue was up 7.2% on a year-over-year basis. During the same period last year, the business posted $1.19 earnings per share. As a group, sell-side analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current 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. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend is Tuesday, April 15th. Abbott Laboratories’s dividend payout ratio is currently 30.85%.

Insider Buying and Selling

In other Abbott Laboratories news, SVP Eric Shroff sold 562 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were 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 of the company’s stock, valued at $4,417,294.90. This represents a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Lisa D. Earnhardt sold 91,167 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $133.82, for a total transaction of $12,199,967.94. Following the completion of the sale, the executive vice president now directly owns 71,928 shares in the company, valued at approximately $9,625,404.96. This trade represents a 55.90 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 116,449 shares of company stock valued at $15,463,316. 1.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ABT. Royal Bank of Canada restated an “outperform” rating and issued a $135.00 target price on shares of Abbott Laboratories in a research report on Tuesday, January 21st. Citigroup upped their target price on Abbott Laboratories from $135.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. StockNews.com lowered Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. UBS Group upped their price objective on Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Finally, Stifel Nicolaus boosted their target price on shares of Abbott Laboratories from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $137.94.

Abbott Laboratories Company 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.