Abbott Laboratories (NYSE:ABT) Shares Sold by Raab & Moskowitz Asset Management LLC

Raab & Moskowitz Asset Management LLC reduced its position in Abbott Laboratories (NYSE:ABT) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,428 shares of the healthcare product maker’s stock after selling 100 shares during the quarter. Raab & Moskowitz Asset Management LLC’s holdings in Abbott Laboratories were worth $1,808,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Rise Advisors LLC purchased a new position in Abbott Laboratories in the fourth quarter valued at $37,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in shares of Abbott Laboratories in the 3rd quarter valued at about $40,000. Cornerstone Planning Group LLC grew its position in shares of Abbott Laboratories by 79.4% during the third quarter. Cornerstone Planning Group LLC now owns 454 shares of the healthcare product maker’s stock worth $44,000 after buying an additional 201 shares in the last quarter. Legacy Financial Group LLC purchased a new stake in shares of Abbott Laboratories during the third quarter worth approximately $46,000. Finally, Briaud Financial Planning Inc acquired a new stake in Abbott Laboratories in the third quarter valued at approximately $48,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Activity at Abbott Laboratories

In related news, EVP Andrea F. Wainer sold 42,500 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $112.50, for a total value of $4,781,250.00. Following the transaction, the executive vice president now owns 65,027 shares in the company, valued at approximately $7,315,537.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Abbott Laboratories news, EVP Andrea F. Wainer sold 12,500 shares of Abbott Laboratories stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $120.00, for a total value of $1,500,000.00. Following the sale, the executive vice president now owns 78,704 shares of the company’s stock, valued at approximately $9,444,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Andrea F. Wainer sold 42,500 shares of Abbott Laboratories stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $112.50, for a total value of $4,781,250.00. Following the completion of the sale, the executive vice president now directly owns 65,027 shares in the company, valued at approximately $7,315,537.50. The disclosure for this sale can be found here. Insiders have sold 56,435 shares of company stock worth $6,451,298 in the last quarter. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on ABT shares. Barclays dropped their price objective on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a research report on Monday, April 22nd. Royal Bank of Canada cut their price target on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating on the stock in a research note on Thursday, April 18th. Citigroup raised their price target on Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Evercore ISI raised their price target on Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Finally, Raymond James restated a “buy” rating and issued a $124.00 price target on shares of Abbott Laboratories in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.50.

Abbott Laboratories Stock Up 0.6 %

ABT opened at $107.53 on Friday. The business’s 50-day simple moving average is $113.64 and its 200-day simple moving average is $108.11. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.16 and a current ratio of 1.64. Abbott Laboratories has a one year low of $89.67 and a one year high of $121.64. The stock has a market capitalization of $186.58 billion, a P/E ratio of 33.50, a price-to-earnings-growth ratio of 2.59 and a beta of 0.74.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. Abbott Laboratories had a return on equity of 20.32% and a net margin of 13.96%. The business had revenue of $9.96 billion for the quarter, compared to analysts’ expectations of $9.88 billion. During the same quarter in the previous year, the firm earned $1.03 earnings per share. The business’s revenue was up 2.2% compared to the same quarter last year. Analysts anticipate that Abbott Laboratories will post 4.62 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Friday, April 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

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.