FAS Wealth Partners Inc. Sells 100 Shares of Abbott Laboratories (NYSE:ABT)

FAS Wealth Partners Inc. reduced its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,296 shares of the healthcare product maker’s stock after selling 100 shares during the quarter. FAS Wealth Partners Inc.’s holdings in Abbott Laboratories were worth $599,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Redwood Park Advisors LLC purchased a new stake in Abbott Laboratories during the 4th quarter valued at $25,000. Noble Wealth Management PBC purchased a new stake in shares of Abbott Laboratories in the fourth quarter valued at $26,000. NewSquare Capital LLC lifted its holdings in shares of Abbott Laboratories by 78.4% in the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock worth $27,000 after acquiring an additional 105 shares during the last quarter. WealthTrak Capital Management LLC purchased a new position in shares of Abbott Laboratories during the 4th quarter worth about $28,000. Finally, Rialto Wealth Management LLC bought a new position in Abbott Laboratories during the 4th quarter valued at about $29,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ABT shares. Morgan Stanley raised their price objective on shares of Abbott Laboratories from $117.00 to $127.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 17th. 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 report on Thursday, April 17th. Raymond James lifted their target price on Abbott Laboratories from $132.00 to $142.00 and gave the stock an “outperform” rating in a research report on Thursday, April 17th. Citigroup upped their price target on shares of Abbott Laboratories from $135.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Finally, StockNews.com cut shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $142.59.

Insider Buying and Selling at Abbott Laboratories

In related news, SVP Eric Shroff sold 562 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $138.17, for a total value of $77,651.54. Following the completion of the transaction, the senior vice president now owns 31,970 shares in the company, valued at $4,417,294.90. This trade represents a 1.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Lisa D. Earnhardt sold 91,167 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 71,928 shares in the company, valued at approximately $9,625,404.96. The trade was a 55.90 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 92,678 shares of company stock worth $12,408,743. 0.46% of the stock is owned by corporate insiders.

Abbott Laboratories Stock Up 0.2 %

Shares of Abbott Laboratories stock opened at $130.96 on Friday. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $141.23. The firm’s 50 day moving average price is $130.27 and its 200-day moving average price is $122.80. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The company has a market cap of $227.12 billion, a P/E ratio of 17.12, a PEG ratio of 2.52 and a beta of 0.80.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, beating the consensus estimate of $1.07 by $0.02. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The firm had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.38 billion. On average, sell-side analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.80%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories’s dividend payout ratio is presently 30.61%.

About Abbott Laboratories

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.