Abbott Laboratories (NYSE:ABT) Holdings Decreased by Corbyn Investment Management Inc. MD

Corbyn Investment Management Inc. MD cut its holdings in shares of Abbott Laboratories (NYSE:ABT) by 10.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,054 shares of the healthcare product maker’s stock after selling 1,342 shares during the quarter. Corbyn Investment Management Inc. MD’s holdings in Abbott Laboratories were worth $1,327,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ABT. Rise Advisors LLC acquired a new position in Abbott Laboratories in the 4th quarter valued at approximately $37,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of Abbott Laboratories in the third quarter worth $40,000. Cornerstone Planning Group LLC boosted its position in Abbott Laboratories by 79.4% during the third quarter. Cornerstone Planning Group LLC now owns 454 shares of the healthcare product maker’s stock valued at $44,000 after purchasing an additional 201 shares during the last quarter. Bfsg LLC purchased a new position in Abbott Laboratories in the fourth quarter valued at about $51,000. Finally, Legacy Financial Group LLC acquired a new position in Abbott Laboratories in the 3rd quarter worth about $46,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

ABT has been the subject of several recent research reports. Evercore ISI boosted their price target on Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Citigroup raised their price target on shares of Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Royal Bank of Canada decreased their price objective on shares of Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a report on Thursday, April 18th. Barclays cut their target price on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Raymond James reissued a “buy” rating and set a $124.00 price objective on shares of Abbott Laboratories in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $121.50.

Abbott Laboratories Stock Performance

Shares of ABT traded up $0.56 during mid-day trading on Friday, hitting $107.42. The company’s stock had a trading volume of 1,423,835 shares, compared to its average volume of 5,633,082. Abbott Laboratories has a one year low of $89.67 and a one year high of $121.64. The stock’s 50-day moving average is $113.77 and its two-hundred day moving average is $107.96. The firm has a market capitalization of $186.39 billion, a PE ratio of 33.22, a price-to-earnings-growth ratio of 2.57 and a beta of 0.74. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.16 and a current ratio of 1.64.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.02. The company had revenue of $9.96 billion for the quarter, compared to analyst estimates of $9.88 billion. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.32%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the business posted $1.03 EPS. As a group, sell-side analysts anticipate that Abbott Laboratories will post 4.62 EPS for the current year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be given a $0.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.05%. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

Insider Activity

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 42,500 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $112.50, for a total value of $4,781,250.00. Following the sale, the executive vice president now owns 65,027 shares of the company’s stock, valued at approximately $7,315,537.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, VP John A. Jr. Mccoy sold 472 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $118.50, for a total value of $55,932.00. Following the sale, the vice president now owns 18,760 shares of the company’s stock, valued at approximately $2,223,060. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Andrea F. Wainer sold 42,500 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $112.50, for a total value of $4,781,250.00. Following the transaction, the executive vice president now owns 65,027 shares of the company’s stock, valued at $7,315,537.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,435 shares of company stock worth $6,451,298. Company insiders own 1.10% of the company’s stock.

Abbott Laboratories Company Profile

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.