FineMark National Bank & Trust Sells 741 Shares of Abbott Laboratories (NYSE:ABT)

FineMark National Bank & Trust trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT) by 1.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 48,809 shares of the healthcare product maker’s stock after selling 741 shares during the period. FineMark National Bank & Trust’s holdings in Abbott Laboratories were worth $5,521,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Noble Wealth Management PBC bought a new stake in shares of Abbott Laboratories in the 4th quarter valued at approximately $26,000. NewSquare Capital LLC boosted its stake in 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 in the last quarter. Rialto Wealth Management LLC bought a new stake in Abbott Laboratories in the fourth quarter valued at $29,000. Wingate Wealth Advisors Inc. acquired a new position in Abbott Laboratories during the fourth quarter worth $34,000. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of Abbott Laboratories during the fourth quarter valued at $37,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ABT. Royal Bank of Canada reissued an “outperform” rating and set a $135.00 price target on shares of Abbott Laboratories in a report on Tuesday, January 21st. The Goldman Sachs Group lifted their target price on shares of Abbott Laboratories from $138.00 to $154.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Barclays restated an “overweight” rating and set a $158.00 price target (up from $149.00) on shares of Abbott Laboratories in a research report on Monday, January 27th. UBS Group lifted their price objective on Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Finally, Wells Fargo & Company increased their target price on Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $137.94.

Insider Buying and Selling at Abbott Laboratories

In related news, EVP Andrea F. Wainer sold 949 shares of the business’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 completion of the transaction, the executive vice president now directly owns 74,381 shares in the company, valued at approximately $10,277,222.77. The trade was a 1.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 $9,625,404.96. This trade represents a 55.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 116,449 shares of company stock valued at $15,463,316. Company insiders own 1.10% of the company’s stock.

Abbott Laboratories Trading Up 0.8 %

NYSE:ABT opened at $127.31 on Tuesday. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $141.23. The firm has a market capitalization of $220.79 billion, a price-to-earnings ratio of 16.64, a PEG ratio of 2.52 and a beta of 0.70. The business’s 50-day moving average price is $128.79 and its two-hundred day moving average price is $120.04.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, hitting the consensus estimate of $1.34. The business had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11.03 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. Abbott Laboratories’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.19 EPS. On average, equities analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend is Tuesday, April 15th. Abbott Laboratories’s payout ratio is presently 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.