True North Advisors LLC Sells 845 Shares of Abbott Laboratories (NYSE:ABT)

True North Advisors LLC lessened its stake in Abbott Laboratories (NYSE:ABTFree Report) by 5.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,746 shares of the healthcare product maker’s stock after selling 845 shares during the quarter. True North Advisors LLC’s holdings in Abbott Laboratories were worth $1,623,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Chicago Capital LLC increased its stake in Abbott Laboratories by 81.8% in the 4th quarter. Chicago Capital LLC now owns 43,025 shares of the healthcare product maker’s stock worth $4,736,000 after acquiring an additional 19,359 shares during the last quarter. Wendell David Associates Inc. raised its position in shares of Abbott Laboratories by 0.3% during the 4th quarter. Wendell David Associates Inc. now owns 225,154 shares of the healthcare product maker’s stock valued at $24,783,000 after buying an additional 755 shares in the last quarter. Covenant Asset Management LLC lifted its holdings in shares of Abbott Laboratories by 8.7% in the 4th quarter. Covenant Asset Management LLC now owns 4,983 shares of the healthcare product maker’s stock valued at $548,000 after acquiring an additional 400 shares during the last quarter. Claro Advisors LLC grew its position in Abbott Laboratories by 10.2% in the fourth quarter. Claro Advisors LLC now owns 8,247 shares of the healthcare product maker’s stock worth $908,000 after acquiring an additional 765 shares in the last quarter. Finally, Miracle Mile Advisors LLC raised its position in Abbott Laboratories by 369.9% during the fourth quarter. Miracle Mile Advisors LLC now owns 51,634 shares of the healthcare product maker’s stock valued at $5,683,000 after purchasing an additional 40,646 shares during the period. 75.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ABT has been the topic of several recent research reports. Wells Fargo & Company increased their price target on Abbott Laboratories from $116.00 to $121.00 and gave the company an “overweight” rating in a report on Wednesday, December 13th. TheStreet upgraded shares of Abbott Laboratories from a “c+” rating to a “b-” rating in a report on Thursday, December 21st. Raymond James increased their price objective on shares of Abbott Laboratories from $124.00 to $127.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Citigroup boosted their target price on Abbott Laboratories from $123.00 to $126.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Finally, Barclays increased their price target on Abbott Laboratories from $133.00 to $141.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $121.77.

Check Out Our Latest Research Report on ABT

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, VP John A. Jr. Mccoy sold 472 shares of Abbott Laboratories stock in a transaction on Friday, March 1st. The shares were sold at an average price of $118.50, for a total value of $55,932.00. Following the transaction, the vice president now directly owns 18,760 shares of the company’s stock, valued at $2,223,060. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Andrea F. Wainer sold 12,500 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the sale, the executive vice president now directly owns 78,704 shares of the company’s stock, valued at $9,444,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP John A. Jr. Mccoy sold 472 shares of Abbott Laboratories stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $118.50, for a total value of $55,932.00. Following the sale, the vice president now directly owns 18,760 shares of the company’s stock, valued at approximately $2,223,060. The disclosure for this sale can be found here. Insiders sold 56,435 shares of company stock valued at $6,451,298 over the last 90 days. Insiders own 0.47% of the company’s stock.

Abbott Laboratories Price Performance

NYSE ABT opened at $112.09 on Tuesday. The company has a market cap of $194.50 billion, a PE ratio of 34.38, a P/E/G ratio of 2.74 and a beta of 0.74. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.16 and a current ratio of 1.64. The firm’s 50 day moving average price is $115.10 and its 200-day moving average price is $106.60.

Abbott Laboratories (NYSE:ABTGet Free Report) last announced its quarterly earnings results on Wednesday, January 24th. The healthcare product maker reported $1.19 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.19. Abbott Laboratories had a return on equity of 20.65% and a net margin of 14.27%. The business had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $10.19 billion. During the same period last year, the business posted $1.03 EPS. The business’s revenue was up 1.5% compared to the same quarter last year. Sell-side analysts forecast that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Friday, April 12th. Abbott Laboratories’s payout ratio is currently 67.48%.

Abbott Laboratories Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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