Abbott Laboratories (NYSE:ABT) Shares Sold by Novare Capital Management LLC

Novare Capital Management LLC reduced its stake in shares of Abbott Laboratories (NYSE:ABT) by 0.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 106,074 shares of the healthcare product maker’s stock after selling 475 shares during the quarter. Novare Capital Management LLC’s holdings in Abbott Laboratories were worth $11,998,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Future Financial Wealth Managment LLC acquired a new position in shares of Abbott Laboratories in the 3rd quarter valued at $31,000. Peterson Financial Group Inc. purchased a new position in Abbott Laboratories in the third quarter valued at $32,000. Valued Wealth Advisors LLC raised its position in shares of Abbott Laboratories by 78.4% in the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after acquiring an additional 127 shares during the period. Highline Wealth Partners LLC purchased a new stake in shares of Abbott Laboratories during the 3rd quarter worth about $37,000. Finally, JDM Financial Group LLC increased its stake in shares of Abbott Laboratories by 51.3% in the 3rd 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 in the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock opened at $125.12 on Friday. The business’s 50 day moving average price is $115.26 and its 200 day moving average price is $113.31. The company has a market cap of $217.01 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 2.51 and a beta of 0.73. 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 one year low of $99.71 and a one year high of $125.67.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, hitting 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 $11,029,400 billion. During the same quarter in the previous year, the firm earned $1.19 EPS. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, research analysts predict that Abbott Laboratories will post 5.15 EPS for the current year.

Abbott Laboratories Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Wednesday, January 15th. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s payout ratio is presently 30.85%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ABT shares. UBS Group increased their price target on Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a research report on Thursday. Raymond James reissued a “buy” rating and issued a $129.00 price target (up previously from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Oppenheimer assumed coverage on shares of Abbott Laboratories in a research report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price objective for the company. Evercore ISI lifted their target price on shares of Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. Finally, Barclays upped their price target on shares of Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.50.

Abbott Laboratories Company 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.