Abbott Laboratories (NYSE:ABT) Shares Sold by GM Advisory Group LLC

GM Advisory Group LLC reduced its position in Abbott Laboratories (NYSE:ABT) by 7.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,689 shares of the healthcare product maker’s stock after selling 362 shares during the quarter. GM Advisory Group LLC’s holdings in Abbott Laboratories were worth $530,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cape Investment Advisory Inc. lifted its stake in Abbott Laboratories by 6.6% in the 4th quarter. Cape Investment Advisory Inc. now owns 1,236 shares of the healthcare product maker’s stock worth $140,000 after acquiring an additional 76 shares in the last quarter. Jacobson & Schmitt Advisors LLC lifted its position in shares of Abbott Laboratories by 2.9% in the fourth quarter. Jacobson & Schmitt Advisors LLC now owns 2,827 shares of the healthcare product maker’s stock worth $320,000 after purchasing an additional 80 shares in the last quarter. LMG Wealth Partners LLC grew its position in Abbott Laboratories by 3.8% during the fourth quarter. LMG Wealth Partners LLC now owns 2,161 shares of the healthcare product maker’s stock valued at $244,000 after purchasing an additional 80 shares in the last quarter. Glass Wealth Management Co LLC increased its stake in Abbott Laboratories by 3.2% in the 4th quarter. Glass Wealth Management Co LLC now owns 2,640 shares of the healthcare product maker’s stock valued at $299,000 after buying an additional 81 shares during the period. Finally, Austin Wealth Management LLC lifted its position in Abbott Laboratories by 4.0% in the 4th quarter. Austin Wealth Management LLC now owns 2,134 shares of the healthcare product maker’s stock worth $242,000 after buying an additional 83 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Buying and Selling at Abbott Laboratories

In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of Abbott Laboratories stock in a transaction dated 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 sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lisa D. Earnhardt sold 91,167 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $133.82, for a total transaction of $12,199,967.94. Following the completion of the transaction, the executive vice president now directly owns 71,928 shares of the company’s stock, valued at $9,625,404.96. This trade represents a 55.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 116,449 shares of company stock valued at $15,463,316 in the last quarter. Corporate insiders own 1.10% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of NYSE ABT opened at $127.64 on Thursday. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $141.23. The company has a market cap of $221.37 billion, a P/E ratio of 16.68, a P/E/G ratio of 2.52 and a beta of 0.70. The business’s 50 day moving average is $127.98 and its two-hundred day moving average is $119.73. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32.

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

Abbott Laboratories Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $2.36 annualized dividend and a yield of 1.85%. Abbott Laboratories’s dividend payout ratio is 30.85%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Barclays reiterated an “overweight” rating and set a $158.00 price objective (up from $149.00) on shares of Abbott Laboratories in a report on Monday, January 27th. Royal Bank of Canada reiterated an “outperform” rating and set a $135.00 price target on shares of Abbott Laboratories in a report on Tuesday, January 21st. Bank of America increased their price objective 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 shares of Abbott Laboratories from $135.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Finally, Stifel Nicolaus increased their price target on shares of Abbott Laboratories from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned 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 price target of $137.94.

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.