Abbott Laboratories (NYSE:ABT) Shares Sold by Notis McConarty Edward

Notis McConarty Edward decreased its holdings in Abbott Laboratories (NYSE:ABT) by 2.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,794 shares of the healthcare product maker’s stock after selling 1,755 shares during the period. Abbott Laboratories comprises 3.3% of Notis McConarty Edward’s portfolio, making the stock its 8th largest holding. Notis McConarty Edward’s holdings in Abbott Laboratories were worth $6,876,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. United Bank boosted its stake in shares of Abbott Laboratories by 1.8% during the 3rd quarter. United Bank now owns 27,284 shares of the healthcare product maker’s stock valued at $3,111,000 after buying an additional 488 shares during the period. Morse Asset Management Inc acquired a new stake in Abbott Laboratories during the third quarter valued at $380,000. Resurgent Financial Advisors LLC acquired a new position in Abbott Laboratories in the 3rd quarter worth about $239,000. Wahed Invest LLC raised its stake in shares of Abbott Laboratories by 6.3% during the 3rd quarter. Wahed Invest LLC now owns 41,666 shares of the healthcare product maker’s stock worth $4,750,000 after purchasing an additional 2,456 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Abbott Laboratories by 1.1% during the 3rd quarter. Wellington Management Group LLP now owns 25,810,977 shares of the healthcare product maker’s stock valued at $2,942,709,000 after buying an additional 280,441 shares during the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ABT. Argus raised shares of Abbott Laboratories to a “strong-buy” rating in a research report on Tuesday, January 28th. 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. Barclays reissued an “overweight” rating and set a $158.00 target price (up from $149.00) on shares of Abbott Laboratories in a research report on Monday, January 27th. UBS Group boosted their price target on Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Finally, StockNews.com lowered Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $137.94.

Insider Buying and Selling at Abbott Laboratories

In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the company’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 in the company, valued at approximately $16,152,064.50. This represents a 15.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Andrea F. Wainer sold 949 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $138.17, for a total value of $131,123.33. Following the transaction, the executive vice president now owns 74,381 shares of the company’s stock, valued at $10,277,222.77. This trade represents a 1.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 116,449 shares of company stock valued at $15,463,316 in the last 90 days. 0.46% of the stock is currently owned by company insiders.

Abbott Laboratories Stock Performance

NYSE ABT opened at $124.46 on Friday. The company’s fifty day moving average is $131.18 and its two-hundred day moving average is $120.82. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $141.23. 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 firm has a market capitalization of $215.85 billion, a price-to-earnings ratio of 16.27, a P/E/G ratio of 2.52 and a beta of 0.70.

Abbott Laboratories (NYSE:ABT) last issued 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 return on equity of 20.74% and a net margin of 31.95%. The firm had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11.03 billion. During the same period in the previous year, the company posted $1.19 earnings per share. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. Equities research analysts forecast that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be paid a dividend of $0.59 per share. The ex-dividend date is Tuesday, April 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.90%. Abbott Laboratories’s dividend payout ratio is currently 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.