Arbor Investment Advisors LLC Cuts Holdings in Abbott Laboratories (NYSE:ABT)

by · The Markets Daily

Arbor Investment Advisors LLC decreased its position in Abbott Laboratories (NYSE:ABT – Free Report) by 7.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,023 shares of the healthcare product maker’s stock after selling 170 shares during the period. Arbor Investment Advisors LLC’s holdings in Abbott Laboratories were worth $268,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cim LLC increased its holdings in Abbott Laboratories by 0.4% in the fourth quarter. Cim LLC now owns 16,967 shares of the healthcare product maker’s stock valued at $1,919,000 after buying an additional 73 shares in the last quarter. Cape Investment Advisory Inc. boosted its position in Abbott Laboratories by 6.6% during the fourth quarter. Cape Investment Advisory Inc. now owns 1,236 shares of the healthcare product maker’s stock worth $140,000 after acquiring an additional 76 shares during the last quarter. Capital Square LLC boosted its position in Abbott Laboratories by 2.7% during the fourth quarter. Capital Square LLC now owns 2,941 shares of the healthcare product maker’s stock worth $368,000 after acquiring an additional 77 shares during the last quarter. Consilium Wealth Advisory LLC boosted its position in Abbott Laboratories by 2.1% during the first quarter. Consilium Wealth Advisory LLC now owns 3,822 shares of the healthcare product maker’s stock worth $507,000 after acquiring an additional 78 shares during the last quarter. Finally, Cyrus J. Lawrence LLC boosted its holdings in Abbott Laboratories by 9.0% in the 4th quarter. Cyrus J. Lawrence LLC now owns 954 shares of the healthcare product maker’s stock valued at $107,000 after purchasing an additional 79 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ABT shares. Citigroup boosted their target price on shares of Abbott Laboratories from $135.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Wells Fargo & Company boosted their target price on shares of Abbott Laboratories from $136.00 to $147.00 and gave the company an “overweight” rating in a report on Thursday, April 17th. The Goldman Sachs Group boosted their target price on shares of Abbott Laboratories from $138.00 to $154.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Bank of America boosted their target price on shares of Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a report on Monday, March 10th. Finally, Stifel Nicolaus boosted their price target on shares of Abbott Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, April 17th. Six research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $142.61.

View Our Latest Analysis on Abbott Laboratories

Abbott Laboratories Price Performance

Shares of ABT opened at $134.40 on Monday. The company has a quick ratio of 1.27, a current ratio of 1.78 and a debt-to-equity ratio of 0.26. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $141.23. The company has a market cap of $233.83 billion, a P/E ratio of 17.43, a PEG ratio of 2.55 and a beta of 0.73. The firm’s 50 day moving average price is $132.82 and its 200 day moving average price is $127.75.

Abbott Laboratories (NYSE:ABT – Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, topping the consensus estimate of $1.07 by $0.02. Abbott Laboratories had a net margin of 31.89% and a return on equity of 19.01%. The company had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.38 billion. On average, research analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend is Tuesday, July 15th. Abbott Laboratories’s payout ratio is 30.61%.

Insider Activity

In related news, Director Sally E. Blount sold 2,600 shares of the stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total transaction of $337,116.00. Following the completion of the sale, the director now owns 34,058 shares in the company, valued at $4,415,960.28. This represents a 7.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.46% of the company’s stock.

Abbott Laboratories Company Profile

(Free Report)

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.

See Also

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