Cypress Capital Management LLC WY Sells 220 Shares of Abbott Laboratories (NYSE:ABT)

Cypress Capital Management LLC WY reduced its stake in Abbott Laboratories (NYSE:ABT) by 8.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,289 shares of the healthcare product maker’s stock after selling 220 shares during the quarter. Cypress Capital Management LLC WY’s holdings in Abbott Laboratories were worth $259,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in ABT. Mediolanum International Funds Ltd boosted its stake in Abbott Laboratories by 75.0% in the 4th quarter. Mediolanum International Funds Ltd now owns 314,605 shares of the healthcare product maker’s stock worth $35,400,000 after purchasing an additional 134,803 shares in the last quarter. Crews Bank & Trust bought a new position in shares of Abbott Laboratories in the fourth quarter worth approximately $722,000. Cairn Investment Group Inc. grew its holdings in shares of Abbott Laboratories by 71.9% during the fourth quarter. Cairn Investment Group Inc. now owns 3,179 shares of the healthcare product maker’s stock valued at $360,000 after buying an additional 1,330 shares during the last quarter. Baron Wealth Management LLC raised its holdings in Abbott Laboratories by 72.4% in the 4th quarter. Baron Wealth Management LLC now owns 3,544 shares of the healthcare product maker’s stock worth $401,000 after acquiring an additional 1,488 shares during the last quarter. Finally, Gries Financial LLC lifted its position in Abbott Laboratories by 6.7% in the 4th quarter. Gries Financial LLC now owns 15,513 shares of the healthcare product maker’s stock valued at $1,755,000 after acquiring an additional 971 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ABT shares. Stifel Nicolaus boosted their price target on Abbott Laboratories from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Barclays restated an “overweight” rating and set a $158.00 target price (up previously from $149.00) on shares of Abbott Laboratories in a research note on Monday. Evercore ISI lifted their price target on shares of Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Oppenheimer began coverage on shares of Abbott Laboratories in a research report on Tuesday, October 8th. They set an “outperform” rating and a $130.00 price objective on the stock. Finally, Jefferies Financial Group lifted their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus price target of $133.06.

Abbott Laboratories Stock Up 0.7 %

ABT stock opened at $128.75 on Friday. The business’s 50-day moving average price is $115.94 and its 200-day moving average price is $113.90. The stock has a market cap of $223.32 billion, a P/E ratio of 16.83, a PEG ratio of 2.51 and a beta of 0.73. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $129.85.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results 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 the consensus estimate of $11.03 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.19 earnings per share. On average, equities research analysts forecast that Abbott Laboratories will post 5.15 EPS for the current year.

Abbott Laboratories Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.83%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date is Wednesday, January 15th. Abbott Laboratories’s payout ratio is presently 30.85%.

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.