Cigna Investments Inc. New Sells 202 Shares of Abbott Laboratories (NYSE:ABT)

Cigna Investments Inc. New decreased its position in shares of Abbott Laboratories (NYSE:ABT) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,628 shares of the healthcare product maker’s stock after selling 202 shares during the period. Cigna Investments Inc. New’s holdings in Abbott Laboratories were worth $1,994,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ABT. Groupama Asset Managment increased its position in shares of Abbott Laboratories by 22.2% in the third quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after purchasing an additional 41,557 shares during the period. Peterson Financial Group Inc. bought a new position in shares of Abbott Laboratories in the third quarter worth $32,000. Valued Wealth Advisors LLC increased 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 purchasing an additional 127 shares during the period. Wingate Wealth Advisors Inc. bought a new position in shares of Abbott Laboratories in the fourth quarter worth $34,000. Finally, Highline Wealth Partners LLC bought a new position in Abbott Laboratories in the third quarter valued at about $37,000. Institutional investors own 75.18% of the company’s stock.

Insiders Place Their Bets

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the business’s stock in a transaction on 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 owns 125,697 shares of the company’s stock, valued at approximately $16,152,064.50. The trade was a 15.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.10% of the company’s stock.

Abbott Laboratories Trading Up 1.8 %

Shares of Abbott Laboratories stock opened at $131.36 on Tuesday. The stock has a fifty day simple moving average of $117.46 and a 200 day simple moving average of $115.24. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $132.50. The company has a market capitalization of $227.84 billion, a P/E ratio of 17.17, a price-to-earnings-growth ratio of 2.39 and a beta of 0.75. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (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 during the quarter, compared to the consensus estimate of $11.03 billion. During the same quarter in the prior year, the company posted $1.19 earnings per share. Abbott Laboratories’s revenue was up 7.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a $0.59 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $2.36 annualized dividend and a yield of 1.80%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s payout ratio is currently 30.85%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Piper Sandler lifted their target price on Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Sanford C. Bernstein lifted their price target on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Stifel Nicolaus lifted their price target on Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Evercore ISI lifted their price objective on Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Finally, Morgan Stanley boosted their price target on Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average target price 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.