Carret Asset Management LLC Has $5.62 Million Stock Holdings in Abbott Laboratories (NYSE:ABT)

Carret Asset Management LLC decreased its position in Abbott Laboratories (NYSE:ABT) by 0.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 49,719 shares of the healthcare product maker’s stock after selling 424 shares during the period. Carret Asset Management LLC’s holdings in Abbott Laboratories were worth $5,624,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ABT. Groupama Asset Managment grew its holdings in shares of Abbott Laboratories by 22.2% in the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock valued at $26,000 after buying an additional 41,557 shares during the period. Noble Wealth Management PBC acquired a new position in shares of Abbott Laboratories in the 4th quarter valued at $26,000. NewSquare Capital LLC grew 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 valued at $27,000 after buying an additional 105 shares during the period. Rialto Wealth Management LLC acquired a new position in shares of Abbott Laboratories in the 4th quarter valued at $29,000. Finally, Peterson Financial Group Inc. acquired a new position in shares of Abbott Laboratories in the 3rd quarter valued at $32,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Trading Down 0.4 %

Abbott Laboratories stock opened at $129.71 on Friday. Abbott Laboratories has a one year low of $99.71 and a one year high of $141.23. The company has a market cap of $224.97 billion, a price-to-earnings ratio of 16.96, a P/E/G ratio of 2.52 and a beta of 0.69. The firm has a 50-day moving average of $126.90 and a 200-day moving average of $119.29. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14.

Abbott Laboratories (NYSE:ABT) last issued its 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 the consensus estimate of $11.03 billion. During the same period last year, the business posted $1.19 EPS. Abbott Laboratories’s revenue was up 7.2% on a year-over-year basis. On average, equities analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $2.36 annualized dividend and a yield of 1.82%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 30.85%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Barclays reissued an “overweight” rating and issued a $158.00 price target (up previously from $149.00) on shares of Abbott Laboratories in a report on Monday, January 27th. Evercore ISI increased their target price on Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. Argus upgraded Abbott Laboratories to a “strong-buy” rating in a report on Tuesday, January 28th. Royal Bank of Canada reiterated an “outperform” rating and set a $135.00 target price on shares of Abbott Laboratories in a report on Tuesday, January 21st. Finally, UBS Group increased their target price on Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Four analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $137.94.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the completion of the sale, the executive vice president now directly owns 125,697 shares in the company, valued at $16,152,064.50. This trade represents a 15.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Eric Shroff sold 562 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 transaction of $77,651.54. Following the sale, the senior vice president now owns 31,970 shares of the company’s stock, valued at $4,417,294.90. This trade represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 116,449 shares of company stock worth $15,463,316. Insiders own 0.47% of the company’s stock.

Abbott Laboratories 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.