Cypress Capital Management LLC WY Sells 220 Shares of Abbott Laboratories (NYSE:ABT)

Cypress Capital Management LLC WY decreased its holdings in Abbott Laboratories (NYSE:ABT) by 8.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,289 shares of the healthcare product maker’s stock after selling 220 shares during the quarter. Cypress Capital Management LLC WY’s holdings in Abbott Laboratories were worth $259,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bath Savings Trust Co lifted its holdings in Abbott Laboratories by 3.7% during the 4th quarter. Bath Savings Trust Co now owns 166,132 shares of the healthcare product maker’s stock valued at $18,791,000 after buying an additional 5,881 shares in the last quarter. Simplify Asset Management Inc. raised its stake in shares of Abbott Laboratories by 67.3% during the third quarter. Simplify Asset Management Inc. now owns 14,083 shares of the healthcare product maker’s stock valued at $1,606,000 after acquiring an additional 5,664 shares in the last quarter. Pensionfund Sabic purchased a new stake in shares of Abbott Laboratories in the fourth quarter valued at approximately $2,828,000. Sequoia Financial Advisors LLC increased its holdings in Abbott Laboratories by 19.6% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 193,764 shares of the healthcare product maker’s stock worth $22,091,000 after purchasing an additional 31,720 shares during the period. Finally, Tidal Investments LLC raised its position in Abbott Laboratories by 30.5% during the 3rd quarter. Tidal Investments LLC now owns 107,308 shares of the healthcare product maker’s stock valued at $12,234,000 after purchasing an additional 25,052 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ABT. Stifel Nicolaus increased their price target on Abbott Laboratories from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Sanford C. Bernstein raised their target price on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $135.00 price target on shares of Abbott Laboratories in a research report on Tuesday, January 21st. Mizuho lifted their price objective on shares of Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Finally, Oppenheimer began coverage on Abbott Laboratories in a report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 target price for the company. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $133.06.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $128.75 on Friday. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $129.85. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The company has a market cap of $223.32 billion, a PE ratio of 16.83, a P/E/G ratio of 2.51 and a beta of 0.73. The business has a 50-day simple moving average of $115.94 and a two-hundred day simple moving average of $113.90.

Abbott Laboratories (NYSE:ABT) last released its 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 company had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $11.03 billion. During the same quarter in the previous year, the firm earned $1.19 EPS. Abbott Laboratories’s revenue was up 7.2% compared to the same quarter last year. As a group, equities analysts expect that Abbott Laboratories will post 5.15 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.83%. The ex-dividend date is Wednesday, January 15th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s payout ratio is presently 30.85%.

About Abbott Laboratories

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.