TFC Financial Management Inc. Has $856,000 Stock Holdings in Abbott Laboratories (NYSE:ABT)

TFC Financial Management Inc. cut its position in Abbott Laboratories (NYSE:ABT) by 1.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,565 shares of the healthcare product maker’s stock after selling 83 shares during the quarter. TFC Financial Management Inc.’s holdings in Abbott Laboratories were worth $856,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its stake in Abbott Laboratories by 25.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker’s stock valued at $1,518,539,000 after purchasing an additional 2,711,586 shares during the last quarter. State Street Corp lifted its position in shares of Abbott Laboratories by 3.1% during the 3rd quarter. State Street Corp now owns 76,720,429 shares of the healthcare product maker’s stock worth $8,746,896,000 after buying an additional 2,323,807 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Abbott Laboratories by 13,194.9% during the 3rd quarter. International Assets Investment Management LLC now owns 1,679,805 shares of the healthcare product maker’s stock worth $191,515,000 after buying an additional 1,667,170 shares in the last quarter. Sessa Capital IM L.P. lifted its position in shares of Abbott Laboratories by 47.1% during the 3rd quarter. Sessa Capital IM L.P. now owns 3,749,502 shares of the healthcare product maker’s stock worth $427,481,000 after buying an additional 1,200,409 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in shares of Abbott Laboratories by 22,372.2% during the 4th quarter. Jennison Associates LLC now owns 1,201,364 shares of the healthcare product maker’s stock worth $135,886,000 after buying an additional 1,196,018 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $128.50, for a total value of $3,054,573.50. Following the completion of the transaction, the executive vice president now directly owns 125,697 shares of the company’s stock, valued at $16,152,064.50. This represents a 15.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on ABT shares. UBS Group lifted their target price on shares of Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Evercore ISI lifted their target price on shares of Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. Jefferies Financial Group lifted their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. StockNews.com cut shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Finally, Wells Fargo & Company lifted their price target on shares of Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $133.06.

Abbott Laboratories Stock Down 0.7 %

Shares of NYSE:ABT opened at $130.48 on Thursday. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $132.50. The firm has a fifty day moving average of $118.05 and a 200 day moving average of $115.60. The firm has a market capitalization of $226.31 billion, a PE ratio of 17.06, a price-to-earnings-growth ratio of 2.39 and a beta of 0.75. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.34. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The business had revenue of $10.97 billion during the quarter, compared to analyst estimates of $11.03 billion. During the same period in the prior year, the business posted $1.19 earnings per share. The company’s revenue was up 7.2% on a year-over-year basis. As a group, research analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.81%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio is 30.85%.

Abbott Laboratories Company 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.