Allred Capital Management LLC Decreases Holdings in Abbott Laboratories (NYSE:ABT)

by · The Cerbat Gem

Allred Capital Management LLC lowered its stake in Abbott Laboratories (NYSE:ABT – Free Report) by 1.7% in the 4th quarter, HoldingsChannel reports. The fund owned 5,776 shares of the healthcare product maker’s stock after selling 101 shares during the period. Allred Capital Management LLC’s holdings in Abbott Laboratories were worth $653,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ABT. Redwood Park Advisors LLC bought a new position in shares of Abbott Laboratories during the 4th quarter valued at approximately $25,000. Noble Wealth Management PBC purchased a new position in Abbott Laboratories during the fourth quarter worth $26,000. NewSquare Capital LLC raised its stake in shares of Abbott Laboratories by 78.4% in the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock valued at $27,000 after acquiring an additional 105 shares during the period. WealthTrak Capital Management LLC bought a new stake in shares of Abbott Laboratories in the 4th quarter worth about $28,000. Finally, Rialto Wealth Management LLC purchased a new position in shares of Abbott Laboratories during the 4th quarter worth about $29,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Abbott Laboratories

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the completion of the sale, the executive vice president now owns 125,697 shares of the company’s stock, valued at approximately $16,152,064.50. This represents a 15.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Eric Shroff sold 562 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $138.17, for a total value of $77,651.54. Following the completion of the sale, the senior vice president now owns 31,970 shares of the company’s stock, valued at $4,417,294.90. This trade represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 116,449 shares of company stock valued at $15,463,316. 0.46% of the stock is owned by corporate insiders.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $131.00 on Friday. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $141.23. The stock has a market cap of $227.20 billion, a PE ratio of 17.12, a price-to-earnings-growth ratio of 2.52 and a beta of 0.80. The business has a 50-day simple moving average of $130.63 and a 200-day simple moving average of $121.72. 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 – Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. The company had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.38 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. On average, equities analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend is Tuesday, April 15th. Abbott Laboratories’s payout ratio is 30.85%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Piper Sandler reissued an “overweight” rating and issued a $145.00 price objective (up from $133.00) on shares of Abbott Laboratories in a research report on Thursday. Evercore ISI lifted their target price on Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. Bank of America upped their target price on shares of Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Wells Fargo & Company increased their price target on Abbott Laboratories from $136.00 to $147.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Royal Bank of Canada boosted their price target on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $142.59.

Check Out Our Latest Report on ABT

About Abbott Laboratories

(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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