C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Sells 386 Shares of Abbott Laboratories (NYSE:ABT)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors reduced its stake in Abbott Laboratories (NYSE:ABT) by 1.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,466 shares of the healthcare product maker’s stock after selling 386 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in Abbott Laboratories were worth $2,315,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its position in shares of Abbott Laboratories by 17.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 268,538 shares of the healthcare product maker’s stock worth $30,616,000 after buying an additional 40,783 shares in the last quarter. Koss Olinger Consulting LLC raised its position in shares of Abbott Laboratories by 10.7% in the third quarter. Koss Olinger Consulting LLC now owns 3,360 shares of the healthcare product maker’s stock worth $383,000 after buying an additional 325 shares in the last quarter. Trilogy Capital Inc. raised its position in shares of Abbott Laboratories by 5.6% in the third quarter. Trilogy Capital Inc. now owns 2,503 shares of the healthcare product maker’s stock worth $285,000 after buying an additional 132 shares in the last quarter. Copeland Capital Management LLC purchased a new stake in shares of Abbott Laboratories in the third quarter worth $142,000. Finally, Townsend Asset Management Corp NC ADV purchased a new stake in Abbott Laboratories during the third quarter valued at about $206,000. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Stock Down 0.4 %

NYSE ABT opened at $130.12 on Wednesday. The business’s 50-day moving average is $119.57 and its 200 day moving average is $116.42. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The stock has a market capitalization of $225.68 billion, a PE ratio of 17.01, a PEG ratio of 2.39 and a beta of 0.75. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $132.65.

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

Abbott Laboratories Increases Dividend

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

Insider Buying and Selling at Abbott Laboratories

In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $128.50, for a total value of $3,054,573.50. Following the sale, the executive vice president now directly owns 125,697 shares of the company’s stock, valued at $16,152,064.50. The trade was a 15.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ABT shares. Royal Bank of Canada restated an “outperform” rating and set a $135.00 price target on shares of Abbott Laboratories in a research report on Tuesday, January 21st. Stifel Nicolaus raised their price target on Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. StockNews.com downgraded Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. Wells Fargo & Company raised their price target on Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Finally, Argus upgraded Abbott Laboratories to a “strong-buy” rating in a report on Tuesday, January 28th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $133.06.

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.