1900 Wealth Management LLC Lowers Stake in Abbott Laboratories (NYSE:ABT)

1900 Wealth Management LLC decreased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 13.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,059 shares of the healthcare product maker’s stock after selling 489 shares during the period. 1900 Wealth Management LLC’s holdings in Abbott Laboratories were worth $346,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. State Street Corp raised its stake in Abbott Laboratories by 3.1% during the third quarter. State Street Corp now owns 76,720,429 shares of the healthcare product maker’s stock valued at $8,746,896,000 after buying an additional 2,323,807 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Abbott Laboratories by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 34,903,198 shares of the healthcare product maker’s stock worth $3,963,974,000 after purchasing an additional 488,764 shares during the last quarter. Wellington Management Group LLP boosted its stake in Abbott Laboratories by 1.1% in the 3rd quarter. Wellington Management Group LLP now owns 25,810,977 shares of the healthcare product maker’s stock worth $2,942,709,000 after purchasing an additional 280,441 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Abbott Laboratories by 25.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker’s stock valued at $1,518,539,000 after purchasing an additional 2,711,586 shares during the last quarter. Finally, Fisher Asset Management LLC raised its holdings in Abbott Laboratories by 5.6% in the third quarter. Fisher Asset Management LLC now owns 11,102,204 shares of the healthcare product maker’s stock worth $1,265,762,000 after buying an additional 585,915 shares during the last quarter. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Trading Down 2.9 %

NYSE:ABT opened at $128.20 on Friday. The firm has a market capitalization of $222.36 billion, a price-to-earnings ratio of 16.76, a price-to-earnings-growth ratio of 2.39 and a beta of 0.74. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The business has a fifty day moving average price of $117.06 and a 200-day moving average price of $114.83. Abbott Laboratories has a one year low of $99.71 and a one year high of $132.50.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.34. The firm had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $11.03 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.19 EPS. Sell-side analysts forecast that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a dividend of $0.59 per share. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date is Wednesday, January 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.84%. Abbott Laboratories’s payout ratio is 30.85%.

Insider Buying and Selling

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 125,697 shares in the company, valued at $16,152,064.50. This represents a 15.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.47% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ABT. Mizuho raised their price target on shares of Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Piper Sandler lifted their target price on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Argus raised Abbott Laboratories to a “strong-buy” rating in a report on Tuesday, January 28th. Barclays reissued 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. Finally, 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. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus price target of $133.06.

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.