RNC Capital Management LLC Sells 1,023 Shares of Abbott Laboratories (NYSE:ABT)

RNC Capital Management LLC decreased its holdings in Abbott Laboratories (NYSE:ABT) by 6.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,620 shares of the healthcare product maker’s stock after selling 1,023 shares during the period. RNC Capital Management LLC’s holdings in Abbott Laboratories were worth $1,609,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Zevenbergen Capital Investments LLC increased its stake in shares of Abbott Laboratories by 0.6% during the third quarter. Zevenbergen Capital Investments LLC now owns 21,419 shares of the healthcare product maker’s stock worth $2,074,000 after purchasing an additional 130 shares during the period. Rockland Trust Co. increased its stake in shares of Abbott Laboratories by 1.5% during the third quarter. Rockland Trust Co. now owns 91,868 shares of the healthcare product maker’s stock worth $8,897,000 after purchasing an additional 1,343 shares during the period. VisionPoint Advisory Group LLC increased its stake in shares of Abbott Laboratories by 7.4% during the third quarter. VisionPoint Advisory Group LLC now owns 3,106 shares of the healthcare product maker’s stock worth $301,000 after purchasing an additional 215 shares during the period. Boston Partners increased its stake in shares of Abbott Laboratories by 634.6% during the third quarter. Boston Partners now owns 29,758 shares of the healthcare product maker’s stock worth $2,882,000 after purchasing an additional 25,707 shares during the period. Finally, Whittier Trust Co. increased its stake in shares of Abbott Laboratories by 1.4% during the third quarter. Whittier Trust Co. now owns 373,375 shares of the healthcare product maker’s stock worth $36,161,000 after purchasing an additional 5,058 shares during the period. Institutional investors own 75.18% of the company’s stock.

Insider Activity

In other news, EVP Daniel Gesua Sive Salvadori sold 963 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $118.50, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Daniel Gesua Sive Salvadori sold 963 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 $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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP John A. Jr. Mccoy sold 472 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $55,932.00. Following the completion of the transaction, the vice president now directly owns 18,760 shares of the company’s stock, valued at $2,223,060. The disclosure for this sale can be found here. Insiders sold 56,435 shares of company stock worth $6,451,298 in the last three months. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ABT shares. TheStreet upgraded Abbott Laboratories from a “c+” rating to a “b-” rating in a research note on Thursday, December 21st. Royal Bank of Canada reissued an “outperform” rating and set a $128.00 price target on shares of Abbott Laboratories in a research report on Wednesday, February 14th. Barclays increased their price target on Abbott Laboratories from $133.00 to $141.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Raymond James increased their price target on Abbott Laboratories from $124.00 to $127.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Finally, Wells Fargo & Company raised their target price on Abbott Laboratories from $116.00 to $121.00 and gave the company an “overweight” rating in a report on Wednesday, December 13th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $120.00.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $113.47 on Thursday. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64. The stock’s 50 day moving average price is $115.14 and its 200-day moving average price is $106.37. The company has a market capitalization of $196.89 billion, a PE ratio of 34.81, a PEG ratio of 2.65 and a beta of 0.75. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.35.

Abbott Laboratories (NYSE:ABT) last issued its 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. Abbott Laboratories had a net margin of 14.27% and a return on equity of 20.65%. The business had revenue of $10.24 billion for the quarter, compared to analysts’ expectations of $10.19 billion. During the same quarter in the previous year, the firm posted $1.03 EPS. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, equities analysts anticipate that Abbott Laboratories will post 4.62 EPS for the current year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be issued a dividend of $0.55 per share. The ex-dividend date is Friday, April 12th. This represents a $2.20 dividend on an annualized basis and a yield of 1.94%. Abbott Laboratories’s payout ratio is 67.48%.

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.