Abbott Laboratories (NYSE:ABT) Shares Sold by Blue Barn Wealth LLC

Blue Barn Wealth LLC decreased its position in Abbott Laboratories (NYSE:ABT) by 9.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,802 shares of the healthcare product maker’s stock after selling 286 shares during the period. Blue Barn Wealth LLC’s holdings in Abbott Laboratories were worth $308,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Zevenbergen Capital Investments LLC lifted its holdings in shares of Abbott Laboratories by 0.6% in the third quarter. Zevenbergen Capital Investments LLC now owns 21,419 shares of the healthcare product maker’s stock valued at $2,074,000 after purchasing an additional 130 shares in the last quarter. Perigon Wealth Management LLC boosted its stake in shares of Abbott Laboratories by 5.2% during the 4th quarter. Perigon Wealth Management LLC now owns 47,080 shares of the healthcare product maker’s stock worth $5,182,000 after purchasing an additional 2,317 shares during the last quarter. Rockland Trust Co. grew its holdings in shares of Abbott Laboratories by 1.5% during the third quarter. Rockland Trust Co. now owns 91,868 shares of the healthcare product maker’s stock worth $8,897,000 after buying an additional 1,343 shares in the last quarter. Boston Partners raised its position in shares of Abbott Laboratories by 634.6% in the third quarter. Boston Partners now owns 29,758 shares of the healthcare product maker’s stock valued at $2,882,000 after buying an additional 25,707 shares during the last quarter. Finally, VisionPoint Advisory Group LLC boosted its position in Abbott Laboratories by 7.4% during the third quarter. VisionPoint Advisory Group LLC now owns 3,106 shares of the healthcare product maker’s stock worth $301,000 after acquiring an additional 215 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Evercore ISI increased their price target on Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Royal Bank of Canada dropped their price objective on shares of Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a research note on Thursday, April 18th. Raymond James restated a “buy” rating and issued a $124.00 target price on shares of Abbott Laboratories in a report on Wednesday, April 24th. Barclays cut their price target on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a research note on Monday, April 22nd. Finally, Citigroup upped their price objective on Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and an average price target of $121.50.

Insider Buying and Selling at Abbott Laboratories

In related news, EVP Andrea F. Wainer sold 12,500 shares of Abbott Laboratories stock in a transaction dated 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 directly owns 78,704 shares in the company, valued at $9,444,480. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Daniel Gesua Sive Salvadori sold 963 shares of Abbott Laboratories stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $114,115.50. Following the transaction, the executive vice president now directly owns 125,697 shares of the company’s stock, valued at $14,895,094.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Andrea F. Wainer sold 12,500 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 78,704 shares of the company’s stock, valued at approximately $9,444,480. The disclosure for this sale can be found here. Insiders have sold 13,935 shares of company stock valued at $1,670,048 in the last quarter. Corporate insiders own 0.47% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT traded down $1.23 on Wednesday, reaching $104.94. 6,195,241 shares of the company’s stock were exchanged, compared to its average volume of 5,559,903. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The business’s 50-day moving average is $112.00 and its two-hundred day moving average is $108.85. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64. The firm has a market capitalization of $182.56 billion, a price-to-earnings ratio of 32.73, a PEG ratio of 2.55 and a beta of 0.76.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data 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 business had revenue of $9.96 billion during the quarter, compared to analyst estimates of $9.88 billion. Abbott Laboratories had a return on equity of 20.18% 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 quarter in the previous year, the firm posted $1.03 EPS. As a group, equities research analysts forecast that Abbott Laboratories will post 4.62 EPS for the current year.

Abbott Laboratories Announces Dividend

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 2.10%. The ex-dividend date of this dividend is Friday, April 12th. Abbott Laboratories’s dividend payout ratio (DPR) is 68.54%.

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.