Strategy Asset Managers LLC Sells 5,524 Shares of Abbott Laboratories (NYSE:ABT)

Strategy Asset Managers LLC lessened its holdings in Abbott Laboratories (NYSE:ABT) by 58.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,868 shares of the healthcare product maker’s stock after selling 5,524 shares during the quarter. Strategy Asset Managers LLC’s holdings in Abbott Laboratories were worth $438,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Noble Wealth Management PBC purchased a new stake in Abbott Laboratories in the fourth quarter valued at approximately $26,000. NewSquare Capital LLC lifted its position in Abbott Laboratories by 78.4% in the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock worth $27,000 after buying an additional 105 shares during the last quarter. WealthTrak Capital Management LLC purchased a new stake in Abbott Laboratories in the fourth quarter worth approximately $28,000. Rialto Wealth Management LLC purchased a new position in shares of Abbott Laboratories during the fourth quarter worth approximately $29,000. Finally, Wingate Wealth Advisors Inc. bought a new stake in shares of Abbott Laboratories in the 4th quarter worth approximately $34,000. Institutional investors own 75.18% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Barclays reiterated an “overweight” rating and issued a $158.00 target price (up previously from $149.00) on shares of Abbott Laboratories in a research report on Monday, January 27th. Citigroup boosted their target price on Abbott Laboratories from $135.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Bank of America lifted their price target on Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Royal Bank of Canada reissued an “outperform” rating and set a $135.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, January 21st. Finally, Argus raised shares of Abbott Laboratories to a “strong-buy” rating in a research note on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.94.

Abbott Laboratories Trading Down 0.4 %

ABT opened at $130.81 on Friday. 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 52 week low of $99.71 and a 52 week high of $141.23. The stock has a market cap of $226.87 billion, a PE ratio of 17.10, a PEG ratio of 2.52 and a beta of 0.70. The business has a 50 day moving average of $130.05 and a 200-day moving average of $120.37.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, meeting analysts’ consensus estimates of $1.34. The firm had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $11.03 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.19 EPS. Equities research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.80%. Abbott Laboratories’s payout ratio is 30.85%.

Insider Transactions at Abbott Laboratories

In related news, EVP Lisa D. Earnhardt sold 91,167 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $133.82, for a total value of $12,199,967.94. Following the transaction, the executive vice president now owns 71,928 shares in the company, valued at $9,625,404.96. The trade was a 55.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Andrea F. Wainer sold 949 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $138.17, for a total transaction of $131,123.33. Following the sale, the executive vice president now owns 74,381 shares of the company’s stock, valued at approximately $10,277,222.77. This represents a 1.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 116,449 shares of company stock valued at $15,463,316 in the last ninety days. 0.46% of the stock is currently owned by corporate insiders.

About Abbott Laboratories

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.