Headinvest LLC Reduces Stake in Abbott Laboratories (NYSE:ABT)

by · The Markets Daily

Headinvest LLC decreased its position in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 0.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,805 shares of the healthcare product maker’s stock after selling 82 shares during the quarter. Headinvest LLC’s holdings in Abbott Laboratories were worth $1,448,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Cape Investment Advisory Inc. raised its position in shares of Abbott Laboratories by 6.6% during the 4th quarter. Cape Investment Advisory Inc. now owns 1,236 shares of the healthcare product maker’s stock valued at $140,000 after buying an additional 76 shares during the period. Capital Square LLC raised its position in Abbott Laboratories by 2.7% in the fourth quarter. Capital Square LLC now owns 2,941 shares of the healthcare product maker’s stock valued at $368,000 after purchasing an additional 77 shares during the period. Cyrus J. Lawrence LLC lifted its stake in shares of 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. LMG Wealth Partners LLC grew its holdings in shares of Abbott Laboratories by 3.8% during the 4th quarter. LMG Wealth Partners LLC now owns 2,161 shares of the healthcare product maker’s stock worth $244,000 after purchasing an additional 80 shares during the period. Finally, Jacobson & Schmitt Advisors LLC increased its position in shares of Abbott Laboratories by 2.9% during the 4th quarter. Jacobson & Schmitt Advisors LLC now owns 2,827 shares of the healthcare product maker’s stock worth $320,000 after purchasing an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insider Transactions at Abbott Laboratories

In other news, SVP Eric Shroff sold 562 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $138.17, for a total value of $77,651.54. Following the transaction, the senior vice president now owns 31,970 shares of the company’s stock, valued at approximately $4,417,294.90. The trade was a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Andrea F. Wainer sold 949 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $138.17, for a total value of $131,123.33. Following the sale, the executive vice president now directly owns 74,381 shares of the company’s stock, valued at approximately $10,277,222.77. This represents a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 95,278 shares of company stock worth $12,745,859. Company insiders own 0.46% of the company’s stock.

Abbott Laboratories Stock Down 1.6%

ABT opened at $133.09 on Thursday. The business’s 50-day simple moving average is $129.69 and its 200-day simple moving average is $124.43. The stock has a market capitalization of $231.56 billion, a P/E ratio of 17.40, a price-to-earnings-growth ratio of 2.52 and a beta of 0.74. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. Abbott Laboratories has a one year low of $99.71 and a one year high of $141.23.

Abbott Laboratories (NYSE:ABT – Get Free Report) last announced its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The business had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.38 billion. Analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th were issued a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.77%. Abbott Laboratories’s payout ratio is 30.61%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. UBS Group lifted their price objective on Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Jefferies Financial Group increased their target price on shares of Abbott Laboratories from $135.00 to $137.00 and gave the stock a “hold” rating in a report on Thursday, April 17th. Wells Fargo & Company boosted their price target on shares of Abbott Laboratories from $136.00 to $147.00 and gave the stock an “overweight” rating in a research note on Thursday, April 17th. The Goldman Sachs Group increased their price objective on Abbott Laboratories from $138.00 to $154.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Finally, Royal Bank of Canada boosted their target price on Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a research note on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $142.59.

Read Our Latest Research Report on ABT

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.

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