Abbott Laboratories (NYSE:ABT) Shares Sold by GLOBALT Investments LLC GA

GLOBALT Investments LLC GA decreased its position in Abbott Laboratories (NYSE:ABT) by 1.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 62,657 shares of the healthcare product maker’s stock after selling 1,157 shares during the quarter. GLOBALT Investments LLC GA’s holdings in Abbott Laboratories were worth $7,087,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Groupama Asset Managment raised 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 acquired a new position in Abbott Laboratories in the 4th quarter valued at about $26,000. NewSquare Capital LLC raised its stake 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 purchasing an additional 105 shares during the last quarter. Rialto Wealth Management LLC acquired a new position in Abbott Laboratories in the 4th quarter valued at about $29,000. Finally, Peterson Financial Group Inc. purchased a new stake in Abbott Laboratories in the 3rd quarter valued at about $32,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Activity

In other news, EVP Andrea F. Wainer sold 949 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $138.17, for a total transaction of $131,123.33. Following the completion of the transaction, the executive vice president now directly owns 74,381 shares in the company, valued at approximately $10,277,222.77. This represents a 1.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were 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. This trade represents a 15.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 116,449 shares of company stock worth $15,463,316. 1.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on ABT shares. Barclays restated an “overweight” rating and issued a $158.00 price target (up previously from $149.00) on shares of Abbott Laboratories in a report on Monday, January 27th. StockNews.com cut Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Bank of America lifted their price target on Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a report on Monday, March 10th. Stifel Nicolaus lifted their price target on Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Finally, Evercore ISI boosted their target price on Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $137.94.

Abbott Laboratories Stock Down 2.2 %

NYSE ABT opened at $127.02 on Monday. The stock has a market cap of $220.29 billion, a PE ratio of 16.60, a P/E/G ratio of 2.52 and a beta of 0.70. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $141.23. The business has a 50 day moving average price of $127.16 and a two-hundred day moving average price of $119.47. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.34. The company had revenue of $10.97 billion for 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 quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.19 EPS. As a group, sell-side analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories’s dividend payout ratio (DPR) 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.