Abbott Laboratories (NYSE:ABT) Shares Sold by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. decreased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 3.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 18,650 shares of the healthcare product maker’s stock after selling 702 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Abbott Laboratories were worth $2,053,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rise Advisors LLC purchased a new stake in Abbott Laboratories during the 4th quarter worth $37,000. Stuart Chaussee & Associates Inc. increased its stake in Abbott Laboratories by 236.0% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 336 shares of the healthcare product maker’s stock worth $37,000 after buying an additional 236 shares during the period. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in Abbott Laboratories during the 3rd quarter worth $40,000. Cornerstone Planning Group LLC increased its stake in Abbott Laboratories by 79.4% during the 3rd quarter. Cornerstone Planning Group LLC now owns 454 shares of the healthcare product maker’s stock worth $44,000 after buying an additional 201 shares during the period. Finally, Legacy Financial Group LLC purchased a new stake in Abbott Laboratories during the 3rd quarter worth $46,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Transactions at Abbott Laboratories

In other news, EVP Andrea F. Wainer sold 12,500 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 78,704 shares of the company’s stock, valued at approximately $9,444,480. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Daniel Gesua Sive Salvadori sold 963 shares of the business’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 $114,115.50. Following the sale, the executive vice president now directly owns 125,697 shares in the company, valued at approximately $14,895,094.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Andrea F. Wainer sold 12,500 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were 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 approximately $9,444,480. The disclosure for this sale can be found here. In the last three months, insiders sold 13,935 shares of company stock valued at $1,670,048. Company insiders own 0.47% of the company’s stock.

Abbott Laboratories Stock Performance

Abbott Laboratories stock traded down $0.26 during midday trading on Monday, reaching $107.27. 3,305,056 shares of the stock traded hands, compared to its average volume of 5,632,248. The company has a current ratio of 1.64, a quick ratio of 1.16 and a debt-to-equity ratio of 0.35. The firm has a fifty day moving average price of $113.64 and a two-hundred day moving average price of $108.22. The firm has a market cap of $186.13 billion, a price-to-earnings ratio of 33.66, a PEG ratio of 2.59 and a beta of 0.74. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. The firm had revenue of $9.96 billion during 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%. Abbott Laboratories’s revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.03 EPS. On average, equities research analysts forecast that Abbott Laboratories will post 4.62 earnings per share for the current year.

Abbott Laboratories Announces Dividend

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

Analyst Upgrades and Downgrades

ABT has been the subject of several research analyst reports. Citigroup boosted their target price on shares of Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Raymond James reissued a “buy” rating and issued a $124.00 target price on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Royal Bank of Canada dropped their target price on shares of Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a research report on Thursday, April 18th. Evercore ISI boosted their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Finally, Barclays decreased their price target on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a report on Monday, April 22nd. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $121.50.

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.