Taylor Financial Group Inc. Cuts Stock Position in Abbott Laboratories (NYSE:ABT)

Taylor Financial Group Inc. lessened its stake in Abbott Laboratories (NYSE:ABT) by 4.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,971 shares of the healthcare product maker’s stock after selling 100 shares during the period. Taylor Financial Group Inc.’s holdings in Abbott Laboratories were worth $223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of ABT. Raymond James Financial Inc. purchased a new stake in shares of Abbott Laboratories during the fourth quarter worth about $635,056,000. Massachusetts Financial Services Co. MA grew its stake in shares of Abbott Laboratories by 25.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker’s stock worth $1,518,539,000 after acquiring an additional 2,711,586 shares during the last quarter. State Street Corp grew its stake in shares of Abbott Laboratories by 3.1% during the third quarter. State Street Corp now owns 76,720,429 shares of the healthcare product maker’s stock worth $8,746,896,000 after acquiring an additional 2,323,807 shares during the last quarter. Sessa Capital IM L.P. grew its stake in shares of Abbott Laboratories by 47.1% during the third quarter. Sessa Capital IM L.P. now owns 3,749,502 shares of the healthcare product maker’s stock worth $427,481,000 after acquiring an additional 1,200,409 shares during the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of Abbott Laboratories by 22,372.2% during the fourth quarter. Jennison Associates LLC now owns 1,201,364 shares of the healthcare product maker’s stock worth $135,886,000 after purchasing an additional 1,196,018 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Up 0.7 %

Abbott Laboratories stock opened at $127.54 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The business has a 50 day simple moving average of $127.45 and a 200-day simple moving average of $119.58. The stock has a market capitalization of $221.19 billion, a PE ratio of 16.67, a price-to-earnings-growth ratio of 2.52 and a beta of 0.70. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $141.23.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, meeting the consensus estimate of $1.34. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The business had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11.03 billion. During the same quarter in the prior year, the company posted $1.19 EPS. The company’s quarterly revenue was up 7.2% on a year-over-year basis. On average, analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend is Tuesday, April 15th. Abbott Laboratories’s payout ratio is 30.85%.

Analyst Ratings Changes

A number of research firms recently commented on ABT. Royal Bank of Canada reaffirmed an “outperform” rating and set a $135.00 target price on shares of Abbott Laboratories in a report on Tuesday, January 21st. Barclays reaffirmed an “overweight” rating and set a $158.00 target price (up previously from $149.00) on shares of Abbott Laboratories in a report on Monday, January 27th. Bank of America lifted their target price on Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Citigroup lifted their target price on Abbott Laboratories from $135.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Finally, Argus raised Abbott Laboratories to a “strong-buy” rating in a report on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.94.

Insider Buying and Selling

In related news, EVP Andrea F. Wainer sold 949 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $138.17, for a total transaction of $131,123.33. Following the transaction, the executive vice president now owns 74,381 shares of the company’s stock, valued at approximately $10,277,222.77. This represents a 1.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $128.50, for a total value of $3,054,573.50. Following the transaction, the executive vice president now directly owns 125,697 shares in the company, valued at approximately $16,152,064.50. The trade was a 15.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 116,449 shares of company stock valued at $15,463,316. Corporate insiders own 1.10% of the company’s stock.

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.