Abbott Laboratories (NYSE:ABT) Position Cut by Panoramic Investment Advisors LLC

Panoramic Investment Advisors LLC cut its stake in shares of Abbott Laboratories (NYSE:ABTFree Report) by 6.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,442 shares of the healthcare product maker’s stock after selling 1,878 shares during the period. Abbott Laboratories accounts for about 2.4% of Panoramic Investment Advisors LLC’s portfolio, making the stock its 9th biggest position. Panoramic Investment Advisors LLC’s holdings in Abbott Laboratories were worth $2,800,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Patriot Investment Management Group Inc. increased its holdings in Abbott Laboratories by 3.1% in the fourth quarter. Patriot Investment Management Group Inc. now owns 3,236 shares of the healthcare product maker’s stock valued at $356,000 after buying an additional 96 shares during the last quarter. Shepherd Financial Partners LLC lifted its position in shares of Abbott Laboratories by 4.5% during the 4th quarter. Shepherd Financial Partners LLC now owns 2,275 shares of the healthcare product maker’s stock valued at $250,000 after acquiring an additional 99 shares during the period. Stonebridge Capital Advisors LLC lifted its position in shares of Abbott Laboratories by 0.5% during the 1st quarter. Stonebridge Capital Advisors LLC now owns 20,029 shares of the healthcare product maker’s stock valued at $2,371,000 after acquiring an additional 100 shares during the period. Landaas & Co. WI ADV increased its stake in shares of Abbott Laboratories by 1.8% during the 4th quarter. Landaas & Co. WI ADV now owns 5,534 shares of the healthcare product maker’s stock worth $608,000 after purchasing an additional 100 shares in the last quarter. Finally, Renaissance Investment Group LLC increased its stake in shares of Abbott Laboratories by 0.7% during the 4th quarter. Renaissance Investment Group LLC now owns 14,204 shares of the healthcare product maker’s stock worth $1,563,000 after purchasing an additional 100 shares in the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Down 0.1 %

Shares of Abbott Laboratories stock traded down $0.08 on Wednesday, hitting $111.94. The company had a trading volume of 1,624,764 shares, compared to its average volume of 5,635,197. The firm has a market capitalization of $194.24 billion, a P/E ratio of 34.28, a P/E/G ratio of 2.70 and a beta of 0.74. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.64 and a quick ratio of 1.16. The stock has a 50-day moving average of $115.02 and a 200-day moving average of $106.74.

Abbott Laboratories (NYSE:ABTGet Free Report) last announced its earnings results on Wednesday, January 24th. The healthcare product maker reported $1.19 EPS for the quarter, hitting the consensus estimate of $1.19. Abbott Laboratories had a net margin of 14.27% and a return on equity of 20.65%. The business had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $10.19 billion. During the same quarter in the prior year, the company posted $1.03 earnings per share. The firm’s revenue was up 1.5% on a year-over-year basis. Research analysts predict that Abbott Laboratories will post 4.62 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Friday, April 12th. Abbott Laboratories’s payout ratio is presently 67.48%.

Insider Activity

In other news, EVP Andrea F. Wainer sold 12,500 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $120.00, for a total value of $1,500,000.00. Following the transaction, the executive vice president now directly owns 78,704 shares of the company’s stock, valued at $9,444,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP John A. Jr. Mccoy sold 472 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $118.50, for a total value of $55,932.00. Following the sale, the vice president now directly owns 18,760 shares in the company, valued at approximately $2,223,060. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Andrea F. Wainer sold 12,500 shares of Abbott Laboratories stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the sale, the executive vice president now owns 78,704 shares in the company, valued at $9,444,480. The disclosure for this sale can be found here. Insiders have sold 56,435 shares of company stock valued at $6,451,298 over the last ninety days. 0.47% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

ABT has been the subject of several recent analyst reports. Raymond James lifted their target price on shares of Abbott Laboratories from $124.00 to $127.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. TheStreet upgraded shares of Abbott Laboratories from a “c+” rating to a “b-” rating in a report on Thursday, December 21st. Wells Fargo & Company upped their target price on shares of Abbott Laboratories from $116.00 to $121.00 and gave the company an “overweight” rating in a research note on Wednesday, December 13th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $128.00 price objective on shares of Abbott Laboratories in a research report on Wednesday, February 14th. Finally, Barclays boosted their price objective on shares of Abbott Laboratories from $133.00 to $141.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Abbott Laboratories presently has an average rating of “Moderate Buy” and an average price target of $121.92.

Get 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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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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