Abbott Laboratories (NYSE:ABT) Shares Sold by Perkins Capital Management Inc.

Perkins Capital Management Inc. lessened its stake in Abbott Laboratories (NYSE:ABT) by 2.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,330 shares of the healthcare product maker’s stock after selling 500 shares during the period. Abbott Laboratories accounts for approximately 2.2% of Perkins Capital Management Inc.’s portfolio, making the stock its 13th largest position. Perkins Capital Management Inc.’s holdings in Abbott Laboratories were worth $2,526,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ABT. United Bank increased its position in Abbott Laboratories by 1.8% during the third quarter. United Bank now owns 27,284 shares of the healthcare product maker’s stock worth $3,111,000 after buying an additional 488 shares during the period. Great Valley Advisor Group Inc. grew its position in shares of Abbott Laboratories by 0.4% during the third quarter. Great Valley Advisor Group Inc. now owns 24,902 shares of the healthcare product maker’s stock worth $2,839,000 after acquiring an additional 100 shares during the last quarter. StoneX Group Inc. increased its holdings in shares of Abbott Laboratories by 10.9% in the 3rd quarter. StoneX Group Inc. now owns 12,915 shares of the healthcare product maker’s stock valued at $1,472,000 after acquiring an additional 1,268 shares during the period. Larson Financial Group LLC raised its position in Abbott Laboratories by 11.0% in the 3rd quarter. Larson Financial Group LLC now owns 12,344 shares of the healthcare product maker’s stock valued at $1,407,000 after purchasing an additional 1,224 shares during the last quarter. Finally, Borer Denton & Associates Inc. grew its position in Abbott Laboratories by 1.8% during the 3rd quarter. Borer Denton & Associates Inc. now owns 78,253 shares of the healthcare product maker’s stock worth $8,922,000 after purchasing an additional 1,370 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insider Activity at Abbott Laboratories

In other news, SVP Eric Shroff sold 562 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were 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 of the company’s stock, valued at $4,417,294.90. The trade was a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Lisa D. Earnhardt sold 91,167 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $133.82, for a total transaction 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. This trade represents a 55.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 116,449 shares of company stock valued at $15,463,316 over the last quarter. Insiders own 1.10% of the company’s stock.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $126.18 on Monday. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The company’s 50-day moving average price is $128.51 and its 200 day moving average price is $119.94. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $141.23. The stock has a market cap of $218.83 billion, a price-to-earnings ratio of 16.49, a PEG ratio of 2.52 and a beta of 0.70.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 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 for the quarter, compared to analyst estimates of $11.03 billion. During the same period in the prior year, the business earned $1.19 earnings per share. The company’s quarterly revenue was up 7.2% on a year-over-year basis. As a group, research analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a $0.59 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.87%. Abbott Laboratories’s dividend payout ratio (DPR) is 30.85%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. StockNews.com downgraded Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. UBS Group boosted their price target on shares of Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Stifel Nicolaus lifted their price objective on Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. 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 report on Thursday, January 23rd. Finally, Barclays reaffirmed an “overweight” rating and set a $158.00 price objective (up previously from $149.00) on shares of Abbott Laboratories in a report on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $137.94.

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.