Sageworth Trust Co Sells 15,853 Shares of Abbott Laboratories (NYSE:ABT)

Sageworth Trust Co lowered its position in Abbott Laboratories (NYSE:ABT) by 30.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,995 shares of the healthcare product maker’s stock after selling 15,853 shares during the quarter. Abbott Laboratories accounts for approximately 0.3% of Sageworth Trust Co’s investment portfolio, making the stock its 24th largest position. Sageworth Trust Co’s holdings in Abbott Laboratories were worth $4,071,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Golden State Wealth Management LLC acquired a new position in shares of Abbott Laboratories in the 4th quarter valued at about $254,000. Gilliland Jeter Wealth Management LLC raised its holdings in Abbott Laboratories by 7.4% during the fourth quarter. Gilliland Jeter Wealth Management LLC now owns 5,412 shares of the healthcare product maker’s stock worth $612,000 after buying an additional 372 shares during the last quarter. Global X Japan Co. Ltd. boosted its stake in Abbott Laboratories by 13.5% during the 4th quarter. Global X Japan Co. Ltd. now owns 4,464 shares of the healthcare product maker’s stock valued at $505,000 after purchasing an additional 531 shares during the last quarter. Fairvoy Private Wealth LLC purchased a new position in Abbott Laboratories during the 4th quarter worth $3,475,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Abbott Laboratories by 7.1% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 213,949 shares of the healthcare product maker’s stock worth $24,200,000 after buying an additional 14,266 shares in the last quarter. 75.18% of the stock is owned by institutional investors.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of Abbott Laboratories stock in a transaction dated 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 Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is owned by corporate insiders.

Abbott Laboratories Stock Performance

Shares of ABT opened at $129.11 on Friday. The stock has a fifty day moving average price of $117.25 and a 200-day moving average price of $114.93. The firm has a market cap of $223.93 billion, a PE ratio of 16.88, a P/E/G ratio of 2.39 and a beta of 0.74. 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 12 month low of $99.71 and a 12 month high of $132.50.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data 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 the consensus estimate of $11.03 billion. During the same period in the prior year, the firm earned $1.19 EPS. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. Equities research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.83%. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s dividend payout ratio (DPR) is presently 30.85%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Mizuho boosted their target price on shares of Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Jefferies Financial Group boosted their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a research note on Thursday, October 17th. Royal Bank of Canada reissued an “outperform” rating and set a $135.00 price objective on shares of Abbott Laboratories in a report on Tuesday, January 21st. Barclays reaffirmed an “overweight” rating and set a $158.00 price target (up previously from $149.00) on shares of Abbott Laboratories in a research note on Monday, January 27th. Finally, Stifel Nicolaus boosted their price target on shares of Abbott Laboratories from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $133.06.

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.