Abbott Laboratories (NYSE:ABT) Holdings Trimmed by Financial Advocates Investment Management

Financial Advocates Investment Management decreased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 4.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,742 shares of the healthcare product maker’s stock after selling 562 shares during the quarter. Financial Advocates Investment Management’s holdings in Abbott Laboratories were worth $1,328,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Future Financial Wealth Managment LLC purchased a new stake in shares of Abbott Laboratories in the third quarter worth approximately $31,000. Peterson Financial Group Inc. purchased a new stake in Abbott Laboratories in the 3rd quarter worth approximately $32,000. Valued Wealth Advisors LLC grew its holdings in shares of Abbott Laboratories by 78.4% during the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after acquiring an additional 127 shares in the last quarter. Highline Wealth Partners LLC purchased a new stake in shares of Abbott Laboratories during the third quarter worth $37,000. Finally, JDM Financial Group LLC boosted its position in Abbott Laboratories by 51.3% during the third quarter. JDM Financial Group LLC now owns 363 shares of the healthcare product maker’s stock valued at $41,000 after purchasing an additional 123 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT opened at $128.20 on Friday. The business has a fifty day moving average of $117.06 and a 200-day moving average of $114.83. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $132.50. The firm has a market cap of $222.36 billion, a PE ratio of 16.76, a price-to-earnings-growth ratio of 2.39 and a beta of 0.74.

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

Abbott Laboratories Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a $0.59 dividend. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 30.85%.

Insider Transactions at Abbott Laboratories

In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the completion of the sale, the executive vice president now owns 125,697 shares in the company, valued at $16,152,064.50. The trade was a 15.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.47% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ABT shares. Argus raised Abbott Laboratories to a “strong-buy” rating in a research note on Tuesday, January 28th. Mizuho raised their price objective on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Stifel Nicolaus upped their price objective on shares of Abbott Laboratories from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Barclays restated an “overweight” rating and set a $158.00 price target (up from $149.00) on shares of Abbott Laboratories in a report on Monday, January 27th. Finally, Sanford C. Bernstein boosted their price objective on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $133.06.

About Abbott Laboratories

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.