West Branch Capital LLC Trims Stock Position in Abbott Laboratories (NYSE:ABT)

West Branch Capital LLC decreased its stake in shares of Abbott Laboratories (NYSE:ABTFree Report) by 2.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,372 shares of the healthcare product maker’s stock after selling 389 shares during the period. Abbott Laboratories makes up 0.7% of West Branch Capital LLC’s investment portfolio, making the stock its 28th largest holding. West Branch Capital LLC’s holdings in Abbott Laboratories were worth $1,582,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of ABT. Fairfield Bush & CO. bought a new position in shares of Abbott Laboratories in the 1st quarter worth approximately $131,000. United Bank boosted its holdings in shares of Abbott Laboratories by 7.2% during the 1st quarter. United Bank now owns 27,280 shares of the healthcare product maker’s stock valued at $3,229,000 after buying an additional 1,826 shares in the last quarter. Mackenzie Financial Corp grew its position in shares of Abbott Laboratories by 1.9% in the 1st quarter. Mackenzie Financial Corp now owns 813,253 shares of the healthcare product maker’s stock worth $96,257,000 after buying an additional 15,521 shares during the period. Kinneret Advisory LLC lifted its position in Abbott Laboratories by 2.3% during the 1st quarter. Kinneret Advisory LLC now owns 19,467 shares of the healthcare product maker’s stock valued at $2,304,000 after acquiring an additional 436 shares during the period. Finally, Lumature Wealth Partners LLC grew its holdings in Abbott Laboratories by 636.2% in the first quarter. Lumature Wealth Partners LLC now owns 2,216 shares of the healthcare product maker’s stock worth $262,000 after purchasing an additional 1,915 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insider Buying and Selling at Abbott Laboratories

In related news, EVP Andrea F. Wainer sold 42,500 shares of Abbott Laboratories stock in a transaction on Monday, January 29th. The shares were 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 owns 65,027 shares in the company, valued at approximately $7,315,537.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Daniel Gesua Sive Salvadori sold 963 shares of Abbott Laboratories stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $118.50, for a total transaction of $114,115.50. Following the sale, the executive vice president now owns 125,697 shares in the company, valued at $14,895,094.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, 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 owns 65,027 shares of the company’s stock, valued at approximately $7,315,537.50. The disclosure for this sale can be found here. Insiders have sold 56,435 shares of company stock valued at $6,451,298 over the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on ABT. TheStreet raised Abbott Laboratories from a “c+” rating to a “b-” rating in a research report on Thursday, December 21st. Wells Fargo & Company upped their price target on shares of Abbott Laboratories from $116.00 to $121.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 13th. Raymond James upped their target price on shares of Abbott Laboratories from $124.00 to $127.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Citigroup increased their target price on Abbott Laboratories from $123.00 to $126.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Finally, Barclays lifted their price objective on Abbott Laboratories from $133.00 to $141.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $120.36.

Read Our Latest Analysis on Abbott Laboratories

Abbott Laboratories Stock Performance

Shares of NYSE ABT opened at $113.66 on Friday. 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 has a 12-month low of $89.67 and a 12-month high of $121.64. The firm has a market capitalization of $197.22 billion, a price-to-earnings ratio of 34.87, a price-to-earnings-growth ratio of 2.73 and a beta of 0.75. The firm has a 50 day moving average of $115.10 and a 200 day moving average of $106.55.

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

Abbott Laboratories Announces Dividend

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

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.

Read More

Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abbott Laboratories (NYSE:ABTFree Report).

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

Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.