Corient Private Wealth LLC Sells 99,175 Shares of Abbott Laboratories (NYSE:ABT)

Corient Private Wealth LLC lessened its position in shares of Abbott Laboratories (NYSE:ABT) by 4.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,275,267 shares of the healthcare product maker’s stock after selling 99,175 shares during the period. Corient Private Wealth LLC owned approximately 0.13% of Abbott Laboratories worth $256,556,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Groupama Asset Managment lifted its stake in Abbott Laboratories by 22.2% in the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock valued at $26,000 after purchasing an additional 41,557 shares during the last quarter. Noble Wealth Management PBC bought a new position in Abbott Laboratories in the 4th quarter valued at approximately $26,000. NewSquare Capital LLC increased its position in Abbott Laboratories by 78.4% in the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock valued at $27,000 after acquiring an additional 105 shares during the period. Rialto Wealth Management LLC acquired a new position in Abbott Laboratories in the 4th quarter valued at approximately $29,000. Finally, Peterson Financial Group Inc. acquired a new position in Abbott Laboratories in the 3rd quarter valued at approximately $32,000. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 2.2 %

Abbott Laboratories stock opened at $127.02 on Friday. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $141.23. The stock has a market cap of $220.29 billion, a PE ratio of 16.60, a price-to-earnings-growth ratio of 2.52 and a beta of 0.69. The firm’s 50-day simple moving average is $127.16 and its 200 day simple moving average is $119.43. 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 (NYSE:ABT) last released its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, hitting the consensus estimate of $1.34. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The business had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $11.03 billion. During the same period in the previous year, the company earned $1.19 earnings per share. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. Research analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

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 issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend is Tuesday, April 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 30.85%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ABT. UBS Group upped their price target on shares of Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Wells Fargo & Company increased their price objective on shares of Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Evercore ISI raised their price target on shares of Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. Citigroup raised their price target on shares of Abbott Laboratories from $135.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Finally, The Goldman Sachs Group raised their price target on shares of Abbott Laboratories from $138.00 to $154.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Four equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $137.94.

Insider Buying and Selling

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 949 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $138.17, for a total value of $131,123.33. Following the transaction, the executive vice president now directly owns 74,381 shares in the company, valued at $10,277,222.77. The trade was a 1.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lisa D. Earnhardt sold 91,167 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were 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 owns 71,928 shares in the company, valued at approximately $9,625,404.96. The trade was a 55.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 116,449 shares of company stock worth $15,463,316. 0.47% of the stock is owned by insiders.

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.