True North Advisors LLC Reduces Stake in Abbott Laboratories (NYSE:ABT)

True North Advisors LLC decreased its holdings in shares of Abbott Laboratories (NYSE:ABTFree Report) by 5.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 14,746 shares of the healthcare product maker’s stock after selling 845 shares during the quarter. True North Advisors LLC’s holdings in Abbott Laboratories were worth $1,623,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in ABT. Halpern Financial Inc. acquired a new stake in shares of Abbott Laboratories in the 3rd quarter valued at about $26,000. Altshuler Shaham Ltd purchased a new stake in Abbott Laboratories in the 4th quarter valued at $28,000. Cornerstone Planning Group LLC purchased a new position in Abbott Laboratories during the 2nd quarter worth $28,000. CGC Financial Services LLC acquired a new stake in shares of Abbott Laboratories during the second quarter worth about $32,000. Finally, FWL Investment Management LLC purchased a new position in shares of Abbott Laboratories during the fourth quarter worth about $33,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Trading Down 1.4 %

Shares of ABT stock opened at $112.09 on Tuesday. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.35. The business has a fifty day simple moving average of $115.10 and a 200-day simple moving average of $106.60. The stock has a market cap of $194.50 billion, a P/E ratio of 34.38, a P/E/G ratio of 2.74 and a beta of 0.74.

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 the consensus estimate of $1.19. Abbott Laboratories had a net margin of 14.27% and a return on equity of 20.65%. The company had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $10.19 billion. During the same quarter in the prior year, the firm earned $1.03 earnings per share. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, analysts forecast that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Friday, April 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 67.48%.

Analyst Ratings Changes

Several brokerages have weighed in on ABT. Barclays lifted 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. Wells Fargo & Company boosted their price objective on shares of Abbott Laboratories from $116.00 to $121.00 and gave the company an “overweight” rating in a research note on Wednesday, December 13th. Raymond James lifted their target price on shares of Abbott Laboratories from $124.00 to $127.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. TheStreet raised shares of Abbott Laboratories from a “c+” rating to a “b-” rating in a report on Thursday, December 21st. Finally, Citigroup lifted their price objective on Abbott Laboratories from $123.00 to $126.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Abbott Laboratories currently has an average rating of “Moderate Buy” and an average target price of $121.77.

Get Our Latest Stock Analysis on ABT

Insider Buying and Selling at Abbott Laboratories

In related news, VP John A. Jr. Mccoy sold 472 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $118.50, for a total value of $55,932.00. Following the sale, the vice president now directly owns 18,760 shares of the company’s stock, valued at $2,223,060. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Andrea F. Wainer sold 42,500 shares of the firm’s stock in a transaction dated 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 completion of 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 legal filing with the SEC, which is accessible through the SEC website. Also, VP John A. Jr. Mccoy sold 472 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 value of $55,932.00. Following the sale, 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 have sold 56,435 shares of company stock valued at $6,451,298 over the last three months. 0.47% of the stock is owned by company insiders.

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.

Further Reading

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

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