CGN Advisors LLC Sells 1,525 Shares of Abbott Laboratories (NYSE:ABT)

CGN Advisors LLC cut its stake in Abbott Laboratories (NYSE:ABTFree Report) by 42.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,037 shares of the healthcare product maker’s stock after selling 1,525 shares during the quarter. CGN Advisors LLC’s holdings in Abbott Laboratories were worth $224,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Altshuler Shaham Ltd purchased a new position in shares of Abbott Laboratories in the fourth quarter worth approximately $28,000. Cornerstone Planning Group LLC purchased a new position in shares of Abbott Laboratories in the second quarter worth $28,000. Halpern Financial Inc. purchased a new stake in Abbott Laboratories during the third quarter valued at $26,000. CGC Financial Services LLC purchased a new stake in Abbott Laboratories during the second quarter valued at $32,000. Finally, FWL Investment Management LLC purchased a new stake in Abbott Laboratories during the fourth quarter valued at $33,000. 73.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ABT shares. Royal Bank of Canada reiterated an “outperform” rating and set a $128.00 price objective on shares of Abbott Laboratories in a research report on Wednesday, February 14th. Citigroup boosted their price objective on shares of Abbott Laboratories from $123.00 to $126.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. TheStreet upgraded shares of Abbott Laboratories from a “c+” rating to a “b-” rating in a research report on Thursday, December 21st. Barclays boosted their price objective on shares of Abbott Laboratories from $133.00 to $141.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Finally, Raymond James boosted their price objective on shares of Abbott Laboratories from $124.00 to $127.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $120.00.

View Our Latest Stock Report on Abbott Laboratories

Insider Transactions at Abbott Laboratories

In related news, EVP Daniel Gesua Sive Salvadori sold 963 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $114,115.50. Following the completion of the sale, the executive vice president now directly owns 125,697 shares of the company’s stock, valued at approximately $14,895,094.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Andrea F. Wainer sold 42,500 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $112.50, for a total transaction of $4,781,250.00. Following the completion of the sale, the executive vice president now directly owns 65,027 shares of the company’s stock, valued at approximately $7,315,537.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Daniel Gesua Sive Salvadori sold 963 shares of Abbott Laboratories stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $118.50, for a total value of $114,115.50. Following the completion of the transaction, the executive vice president now directly owns 125,697 shares of the company’s stock, valued at $14,895,094.50. The disclosure for this sale can be found here. Insiders have sold a total of 56,435 shares of company stock worth $6,451,298 in the last quarter. Company insiders own 1.10% of the company’s stock.

Abbott Laboratories Price Performance

Abbott Laboratories stock opened at $114.43 on Friday. The company’s fifty day moving average price is $115.42 and its 200 day moving average price is $105.86. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $121.64. The stock has a market capitalization of $198.56 billion, a P/E ratio of 35.10, a P/E/G ratio of 2.89 and a beta of 0.75. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.16 and a current ratio of 1.64.

Abbott Laboratories (NYSE:ABTGet Free Report) last announced its quarterly earnings data on Wednesday, January 24th. The healthcare product maker reported $1.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.19. The company had revenue of $10.24 billion for the quarter, compared to analyst estimates of $10.19 billion. Abbott Laboratories had a return on equity of 20.65% and a net margin of 14.27%. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.03 EPS. As a group, equities research analysts anticipate that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $2.20 annualized dividend and a dividend yield of 1.92%. Abbott Laboratories’s dividend payout ratio is presently 67.48%.

Abbott Laboratories Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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