Bernardo Wealth Planning LLC trimmed its stake in Abbott Laboratories (NYSE:ABT – Get Rating) by 8.2% during the fourth quarter, Holdings Channel reports. The fund owned 2,400 shares of the healthcare product maker’s stock after selling 213 shares during the period. Bernardo Wealth Planning LLC’s holdings in Abbott Laboratories were worth $264,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JDM Financial Group LLC purchased a new stake in shares of Abbott Laboratories during the 4th quarter valued at approximately $26,000. EdgeRock Capital LLC purchased a new stake in shares of Abbott Laboratories during the 3rd quarter valued at approximately $29,000. Johnson Midwest Financial LLC lifted its stake in shares of Abbott Laboratories by 28.7% during the 3rd quarter. Johnson Midwest Financial LLC now owns 560 shares of the healthcare product maker’s stock valued at $35,000 after buying an additional 125 shares in the last quarter. Arcus Capital Partners LLC purchased a new stake in shares of Abbott Laboratories during the 4th quarter valued at approximately $35,000. Finally, Glassy Mountain Advisors Inc. purchased a new stake in shares of Abbott Laboratories during the 4th quarter valued at approximately $44,000. 72.93% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other news, EVP Andrea F. Wainer sold 679 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $100.70, for a total value of $68,375.30. Following the completion of the sale, the executive vice president now directly owns 70,427 shares of the company’s stock, valued at approximately $7,091,998.90. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, SVP Randel William Woodgrift sold 1,032 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $100.70, for a total value of $103,922.40. Following the completion of the sale, the senior vice president now directly owns 52,203 shares of the company’s stock, valued at approximately $5,256,842.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Andrea F. Wainer sold 679 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $100.70, for a total transaction of $68,375.30. Following the completion of the sale, the executive vice president now directly owns 70,427 shares of the company’s stock, valued at $7,091,998.90. The disclosure for this sale can be found here. Insiders have sold a total of 1,971 shares of company stock valued at $199,140 in the last quarter. Insiders own 1.10% of the company’s stock.
Analyst Ratings Changes
A number of brokerages recently commented on ABT. Wells Fargo & Company dropped their price target on shares of Abbott Laboratories from $140.00 to $136.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 5th. Sanford C. Bernstein increased their target price on shares of Abbott Laboratories from $125.00 to $132.00 and gave the stock an “outperform” rating in a research note on Thursday, January 26th. StockNews.com assumed coverage on shares of Abbott Laboratories in a research note on Thursday, March 16th. They issued a “buy” rating on the stock. SVB Leerink increased their target price on shares of Abbott Laboratories from $90.00 to $102.00 and gave the stock a “market perform” rating in a research note on Friday, March 31st. Finally, Barclays increased their target price on shares of Abbott Laboratories from $122.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, January 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $121.88.
Abbott Laboratories Price Performance
ABT stock opened at $103.70 on Tuesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.23 and a current ratio of 1.63. Abbott Laboratories has a 52 week low of $93.25 and a 52 week high of $124.35. The firm’s fifty day moving average is $102.99 and its 200 day moving average is $104.43. The firm has a market cap of $180.23 billion, a P/E ratio of 26.52, a P/E/G ratio of 4.71 and a beta of 0.67.
Abbott Laboratories (NYSE:ABT – Get Rating) last released its earnings results on Wednesday, January 25th. The healthcare product maker reported $1.03 EPS for the quarter, beating the consensus estimate of $0.90 by $0.13. The company had revenue of $10.09 billion for the quarter, compared to analyst estimates of $9.69 billion. Abbott Laboratories had a net margin of 15.88% and a return on equity of 26.09%. The firm’s quarterly revenue was down 12.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.32 EPS. Research analysts predict that Abbott Laboratories will post 4.38 earnings per share for the current year.
Abbott Laboratories Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, May 15th. Shareholders of record on Friday, April 14th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend is Thursday, April 13th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 52.17%.
Abbott Laboratories Company Profile
Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following business segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The Established Pharmaceutical Products segment refers to the international sales of a line of branded generic pharmaceutical products.
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