Invenio Wealth Partners LLC Sells 168 Shares of Abbott Laboratories (NYSE:ABT)

Invenio Wealth Partners LLC cut its position in Abbott Laboratories (NYSE:ABT) by 4.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,700 shares of the healthcare product maker’s stock after selling 168 shares during the period. Invenio Wealth Partners LLC’s holdings in Abbott Laboratories were worth $419,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Lokken Investment Group LLC lifted its position in Abbott Laboratories by 5.4% in the 4th quarter. Lokken Investment Group LLC now owns 10,218 shares of the healthcare product maker’s stock valued at $1,156,000 after acquiring an additional 520 shares in the last quarter. Diametric Capital LP purchased a new position in shares of Abbott Laboratories in the fourth quarter worth $229,000. Geode Capital Management LLC lifted its holdings in shares of Abbott Laboratories by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 35,668,834 shares of the healthcare product maker’s stock valued at $4,023,027,000 after purchasing an additional 765,636 shares in the last quarter. Nemes Rush Group LLC increased its holdings in Abbott Laboratories by 24.9% in the 4th quarter. Nemes Rush Group LLC now owns 3,308 shares of the healthcare product maker’s stock worth $374,000 after buying an additional 660 shares in the last quarter. Finally, StoneX Group Inc. raised its position in Abbott Laboratories by 56.8% in the 4th quarter. StoneX Group Inc. now owns 20,246 shares of the healthcare product maker’s stock worth $2,290,000 after buying an additional 7,331 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of NYSE ABT opened at $132.76 on Tuesday. The stock has a market cap of $230.25 billion, a PE ratio of 17.35, a price-to-earnings-growth ratio of 2.52 and a beta of 0.70. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23. The firm has a fifty day moving average price of $130.44 and a 200-day moving average price of $120.51. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.34. The business had revenue of $10.97 billion during the quarter, compared to analyst estimates of $11.03 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. Abbott Laboratories’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.19 EPS. Equities analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be paid a $0.59 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $2.36 annualized dividend and a yield of 1.78%. Abbott Laboratories’s payout ratio is 30.85%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ABT shares. Stifel Nicolaus raised their price target on shares of Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Barclays reaffirmed an “overweight” rating and issued a $158.00 target price (up previously from $149.00) on shares of Abbott Laboratories in a research report on Monday, January 27th. Citigroup increased their price target on Abbott Laboratories from $135.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $135.00 price objective on shares of Abbott Laboratories in a report on Tuesday, January 21st. Finally, Evercore ISI raised their target price on Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. Four 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $137.94.

Insider Buying and Selling at Abbott Laboratories

In other news, EVP Lisa D. Earnhardt sold 91,167 shares of the firm’s 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 owns 71,928 shares in the company, valued at $9,625,404.96. This trade represents a 55.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Eric Shroff sold 562 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $138.17, for a total value of $77,651.54. Following the transaction, the senior vice president now directly owns 31,970 shares of the company’s stock, valued at approximately $4,417,294.90. The trade was a 1.73 % decrease in their ownership of the stock. 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 three months. 0.46% of the stock is currently owned by corporate insiders.

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.