Everhart Financial Group Inc. Lowers Position in Abbott Laboratories (NYSE:ABT)

Everhart Financial Group Inc. lowered its holdings in Abbott Laboratories (NYSE:ABTFree Report) by 4.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 5,311 shares of the healthcare product maker’s stock after selling 219 shares during the quarter. Everhart Financial Group Inc.’s holdings in Abbott Laboratories were worth $585,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Fairfield Bush & CO. bought a new position in Abbott Laboratories during the 1st quarter worth approximately $131,000. United Bank grew its position in shares of Abbott Laboratories by 7.2% in the 1st quarter. United Bank now owns 27,280 shares of the healthcare product maker’s stock worth $3,229,000 after buying an additional 1,826 shares during the last quarter. Mackenzie Financial Corp increased its stake in shares of Abbott Laboratories by 1.9% during the first quarter. Mackenzie Financial Corp now owns 813,253 shares of the healthcare product maker’s stock valued at $96,257,000 after buying an additional 15,521 shares during the period. Kinneret Advisory LLC increased its stake in shares of Abbott Laboratories by 2.3% during the first quarter. Kinneret Advisory LLC now owns 19,467 shares of the healthcare product maker’s stock valued at $2,304,000 after buying an additional 436 shares during the period. Finally, Lumature Wealth Partners LLC increased its stake in shares of Abbott Laboratories by 636.2% during the first quarter. Lumature Wealth Partners LLC now owns 2,216 shares of the healthcare product maker’s stock valued at $262,000 after buying an additional 1,915 shares during the period. 73.70% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Andrea F. Wainer sold 42,500 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now directly owns 65,027 shares of the company’s stock, valued at $7,315,537.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Abbott Laboratories news, EVP Andrea F. Wainer sold 42,500 shares of the stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $112.50, for a total value of $4,781,250.00. Following the transaction, the executive vice president now owns 65,027 shares of the company’s stock, valued at $7,315,537.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP John A. Jr. Mccoy sold 472 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $118.50, for a total value of $55,932.00. Following the completion of the transaction, the vice president now directly owns 18,760 shares in the company, valued at approximately $2,223,060. The disclosure for this sale can be found here. Insiders have sold a total of 56,435 shares of company stock valued at $6,451,298 over the last ninety days. 1.10% of the stock is currently owned by corporate insiders.

Abbott Laboratories Trading Down 0.8 %

NYSE ABT opened at $110.57 on Friday. Abbott Laboratories has a 12 month low of $89.67 and a 12 month high of $121.64. The stock has a market cap of $191.86 billion, a P/E ratio of 33.92, a P/E/G ratio of 2.68 and a beta of 0.75. The stock’s fifty day moving average price is $115.26 and its 200-day moving average price is $106.16. The company has a current ratio of 1.64, a quick ratio of 1.16 and a debt-to-equity ratio of 0.35.

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

Abbott Laboratories Announces Dividend

The firm 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. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Friday, April 12th. Abbott Laboratories’s payout ratio is currently 67.48%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Barclays boosted their target price on Abbott Laboratories from $133.00 to $141.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Citigroup upped their price target on Abbott Laboratories from $123.00 to $126.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. TheStreet raised Abbott Laboratories from a “c+” rating to a “b-” rating in a research note on Thursday, December 21st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $128.00 price target on shares of Abbott Laboratories in a research note on Wednesday, February 14th. Finally, Raymond James upped their price target on Abbott Laboratories from $124.00 to $127.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $120.00.

View Our Latest Stock Report on ABT

About Abbott Laboratories

(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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