Prudent Man Advisors LLC Sells 1,620 Shares of Abbott Laboratories (NYSE:ABT)

Prudent Man Advisors LLC decreased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 10.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,113 shares of the healthcare product maker’s stock after selling 1,620 shares during the period. Prudent Man Advisors LLC’s holdings in Abbott Laboratories were worth $1,596,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ABT. Groupama Asset Managment boosted its position in shares of Abbott Laboratories by 22.2% during 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 in the last quarter. Noble Wealth Management PBC bought a new position in Abbott Laboratories in the fourth quarter worth approximately $26,000. Peterson Financial Group Inc. bought a new position in Abbott Laboratories in the third quarter worth approximately $32,000. Valued Wealth Advisors LLC boosted its holdings in 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 in the last quarter. Finally, Wingate Wealth Advisors Inc. bought a new position in Abbott Laboratories in the fourth quarter worth approximately $34,000. Institutional investors own 75.18% of the company’s stock.

Analysts Set New Price Targets

ABT has been the topic of a number of recent research reports. Wells Fargo & Company raised their target price on Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Argus upgraded Abbott Laboratories to a “strong-buy” rating in a report on Tuesday, January 28th. Stifel Nicolaus increased their price target on Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Barclays reaffirmed an “overweight” rating and set a $158.00 price target (up from $149.00) on shares of Abbott Laboratories in a research report on Monday, January 27th. Finally, UBS Group increased their price target on Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Abbott Laboratories presently has an average rating of “Moderate Buy” and an average price target of $133.06.

Insider Buying and Selling

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the stock in a transaction on Thursday, January 30th. The stock was 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. This trade represents a 15.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Abbott Laboratories Stock Up 1.6 %

Shares of NYSE:ABT opened at $137.99 on Friday. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $138.37. The company has a market cap of $239.32 billion, a PE ratio of 18.04, a P/E/G ratio of 2.52 and a beta of 0.75. The stock’s 50-day moving average is $123.08 and its 200 day moving average is $117.77. 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 posted 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. The company had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $11.03 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The firm’s quarterly revenue 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. Sell-side analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The business 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 $0.59 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.71%. Abbott Laboratories’s payout ratio is currently 30.85%.

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.