Abbott Laboratories (NYSE:ABT) Shares Sold by Platform Technology Partners

Platform Technology Partners lessened its position in shares of Abbott Laboratories (NYSE:ABT) by 2.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,579 shares of the healthcare product maker’s stock after selling 171 shares during the period. Platform Technology Partners’ holdings in Abbott Laboratories were worth $857,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ABT. Brookstone Capital Management lifted its stake in Abbott Laboratories by 2.4% during the third quarter. Brookstone Capital Management now owns 42,762 shares of the healthcare product maker’s stock worth $4,875,000 after purchasing an additional 991 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of Abbott Laboratories during the 3rd quarter worth approximately $31,000. Marcum Wealth LLC boosted its holdings in shares of Abbott Laboratories by 7.7% in the 3rd quarter. Marcum Wealth LLC now owns 5,671 shares of the healthcare product maker’s stock valued at $647,000 after buying an additional 407 shares in the last quarter. Wedmont Private Capital grew its position in shares of Abbott Laboratories by 6.6% in the 3rd quarter. Wedmont Private Capital now owns 13,639 shares of the healthcare product maker’s stock valued at $1,546,000 after buying an additional 846 shares during the last quarter. Finally, Patten Group Inc. lifted its position in Abbott Laboratories by 5.7% in the third quarter. Patten Group Inc. now owns 7,741 shares of the healthcare product maker’s stock valued at $883,000 after acquiring an additional 419 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Stock Performance

NYSE ABT opened at $129.11 on Friday. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The business’s 50 day moving average is $117.25 and its two-hundred day moving average is $114.93. The stock has a market capitalization of $223.93 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 2.39 and a beta of 0.74. 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 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.34. The firm had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $11.03 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. Abbott Laboratories’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.19 earnings per share. Research analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a dividend of $0.59 per share. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a yield of 1.83%. The ex-dividend date is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio is presently 30.85%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Morgan Stanley raised their price objective on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Jefferies Financial Group lifted their price target on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. Sanford C. Bernstein increased their price objective on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Argus raised shares of Abbott Laboratories to a “strong-buy” rating in a report on Tuesday, January 28th. Finally, Evercore ISI increased their price target on shares of Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $133.06.

Insider Buying and Selling at Abbott Laboratories

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $128.50, for a total value of $3,054,573.50. Following the sale, the executive vice president now owns 125,697 shares in the company, valued at $16,152,064.50. This represents a 15.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.47% of the stock is currently owned by corporate insiders.

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.