Fiduciary Group LLC Trims Stake in Abbott Laboratories (NYSE:ABT)

Fiduciary Group LLC lowered its stake in Abbott Laboratories (NYSE:ABT) by 0.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,014 shares of the healthcare product maker’s stock after selling 109 shares during the period. Fiduciary Group LLC’s holdings in Abbott Laboratories were worth $1,873,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in ABT. Shufro Rose & Co. LLC raised its holdings in Abbott Laboratories by 20.9% in the 4th quarter. Shufro Rose & Co. LLC now owns 3,469 shares of the healthcare product maker’s stock worth $382,000 after purchasing an additional 600 shares during the period. Meridian Wealth Partners LLC increased its stake in Abbott Laboratories by 9.2% in the 4th quarter. Meridian Wealth Partners LLC now owns 3,096 shares of the healthcare product maker’s stock worth $341,000 after buying an additional 262 shares in the last quarter. Little House Capital LLC purchased a new stake in Abbott Laboratories in the 4th quarter worth $301,000. Legacy Capital Wealth Partners LLC purchased a new stake in Abbott Laboratories in the 4th quarter worth $618,000. Finally, Stonebrook Private Inc. purchased a new stake in Abbott Laboratories in the 4th quarter worth $489,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on ABT shares. Citigroup lifted their price target on Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Evercore ISI raised their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Barclays decreased their price objective on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a research note on Monday, April 22nd. Raymond James reissued a “buy” rating and issued a $124.00 price objective on shares of Abbott Laboratories in a research note on Wednesday, April 24th. Finally, Royal Bank of Canada reduced their price objective on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating on the stock in a report on Thursday, April 18th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $121.50.

Abbott Laboratories Trading Down 0.0 %

Shares of Abbott Laboratories stock opened at $107.51 on Monday. The stock has a market cap of $186.55 billion, a P/E ratio of 33.50, a P/E/G ratio of 2.59 and a beta of 0.74. The stock’s 50 day simple moving average is $113.64 and its 200-day simple moving average is $108.22. Abbott Laboratories has a 1-year low of $89.67 and a 1-year 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.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.02. The business had revenue of $9.96 billion for the quarter, compared to analysts’ expectations of $9.88 billion. Abbott Laboratories had a return on equity of 20.32% and a net margin of 13.96%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.03 EPS. Analysts predict that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

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

Insider Activity at Abbott Laboratories

In related news, VP John A. Jr. Mccoy sold 472 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 18,760 shares in the company, valued at $2,223,060. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Abbott Laboratories news, VP John A. Jr. Mccoy sold 472 shares of the business’s stock in a transaction that occurred 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 $2,223,060. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Andrea F. Wainer sold 12,500 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $120.00, for a total value of $1,500,000.00. Following the sale, the executive vice president now directly owns 78,704 shares in the company, valued at approximately $9,444,480. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,935 shares of company stock worth $1,670,048. Insiders own 0.47% of the company’s stock.

About Abbott Laboratories

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.