Portside Wealth Group LLC Sells 549 Shares of Abbott Laboratories (NYSE:ABT)

Portside Wealth Group LLC trimmed its position in shares of Abbott Laboratories (NYSE:ABT) by 1.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 49,193 shares of the healthcare product maker’s stock after selling 549 shares during the quarter. Abbott Laboratories comprises about 1.0% of Portside Wealth Group LLC’s investment portfolio, making the stock its 20th largest holding. Portside Wealth Group LLC’s holdings in Abbott Laboratories were worth $5,608,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ABT. Groupama Asset Managment boosted its holdings in Abbott Laboratories by 22.2% in the third quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after acquiring an additional 41,557 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new stake in Abbott Laboratories in the 3rd quarter worth approximately $31,000. Itau Unibanco Holding S.A. purchased a new stake in Abbott Laboratories during the 2nd quarter worth approximately $32,000. Peterson Financial Group Inc. purchased a new position in shares of Abbott Laboratories in the third quarter worth $32,000. Finally, Valued Wealth Advisors LLC lifted its stake in shares of Abbott Laboratories by 78.4% during the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after buying an additional 127 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Stock Down 0.4 %

ABT stock opened at $113.45 on Friday. The stock has a market capitalization of $196.78 billion, a P/E ratio of 34.48, a P/E/G ratio of 2.40 and a beta of 0.73. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $121.64. The firm has a 50-day simple moving average of $114.93 and a 200-day simple moving average of $112.73. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The business had revenue of $10.64 billion for the quarter, compared to the consensus estimate of $10.55 billion. During the same quarter last year, the business posted $1.14 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. Equities analysts forecast that Abbott Laboratories will post 4.67 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $0.59 per share. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.08%. Abbott Laboratories’s dividend payout ratio is presently 71.73%.

Wall Street Analyst Weigh In

ABT has been the topic of several research analyst reports. Raymond James reiterated a “buy” rating and set a $129.00 price target (up previously from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Evercore ISI lifted their price objective on shares of Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. UBS Group upped their price target on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Barclays boosted their price objective on Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Finally, Royal Bank of Canada raised their target price on Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Abbott Laboratories has an average rating of “Moderate Buy” and an average target price of $131.57.

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.