Abbott Laboratories (NYSE:ABT) Shares Sold by Creegan & Nassoura Financial Group LLC

Creegan & Nassoura Financial Group LLC lowered its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 13,120 shares of the healthcare product maker’s stock after selling 175 shares during the period. Creegan & Nassoura Financial Group LLC’s holdings in Abbott Laboratories were worth $1,484,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Cape Investment Advisory Inc. raised its holdings in Abbott Laboratories by 6.6% in the 4th quarter. Cape Investment Advisory Inc. now owns 1,236 shares of the healthcare product maker’s stock valued at $140,000 after acquiring an additional 76 shares in the last quarter. Capital Square LLC increased its position in shares of Abbott Laboratories by 2.7% during the fourth quarter. Capital Square LLC now owns 2,941 shares of the healthcare product maker’s stock valued at $368,000 after purchasing an additional 77 shares during the period. Cyrus J. Lawrence LLC raised its stake in shares of Abbott Laboratories by 9.0% in the fourth quarter. Cyrus J. Lawrence LLC now owns 954 shares of the healthcare product maker’s stock valued at $107,000 after purchasing an additional 79 shares in the last quarter. Jacobson & Schmitt Advisors LLC lifted its position in Abbott Laboratories by 2.9% in the fourth quarter. Jacobson & Schmitt Advisors LLC now owns 2,827 shares of the healthcare product maker’s stock worth $320,000 after purchasing an additional 80 shares during the period. Finally, LMG Wealth Partners LLC increased its holdings in Abbott Laboratories by 3.8% in the 4th quarter. LMG Wealth Partners LLC now owns 2,161 shares of the healthcare product maker’s stock valued at $244,000 after buying an additional 80 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, EVP Lisa D. Earnhardt sold 91,167 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $133.82, for a total value of $12,199,967.94. Following the transaction, the executive vice president now owns 71,928 shares of the company’s stock, valued at approximately $9,625,404.96. The trade was a 55.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Andrea F. Wainer sold 949 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $138.17, for a total transaction of $131,123.33. Following the sale, the executive vice president now directly owns 74,381 shares of the company’s stock, valued at $10,277,222.77. This represents a 1.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 116,449 shares of company stock worth $15,463,316 in the last ninety days. Company insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on ABT. Piper Sandler reaffirmed an “overweight” rating and set a $145.00 price objective (up from $133.00) on shares of Abbott Laboratories in a report on Thursday. Wells Fargo & Company upped their price objective on Abbott Laboratories from $136.00 to $147.00 and gave the company an “overweight” rating in a research note on Thursday. StockNews.com downgraded Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. Barclays upped their price target on Abbott Laboratories from $158.00 to $159.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Argus raised Abbott Laboratories to a “strong-buy” rating in a report on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus price target of $142.59.

Abbott Laboratories Stock Up 1.0 %

Shares of NYSE ABT opened at $131.00 on Monday. The firm’s 50-day moving average is $130.62 and its 200-day moving average is $121.96. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23. The firm has a market capitalization of $227.20 billion, a PE ratio of 17.12, a price-to-earnings-growth ratio of 2.52 and a beta of 0.80.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.02. The business had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.38 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. Equities analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a $0.59 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.80%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 30.61%.

Abbott Laboratories 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.