Autumn Glory Partners LLC Sells 319 Shares of Abbott Laboratories (NYSE:ABT)

Autumn Glory Partners LLC cut its stake in Abbott Laboratories (NYSE:ABT) by 9.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,980 shares of the healthcare product maker’s stock after selling 319 shares during the period. Autumn Glory Partners LLC’s holdings in Abbott Laboratories were worth $337,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. State Street Corp lifted its position in Abbott Laboratories by 3.1% in the third quarter. State Street Corp now owns 76,720,429 shares of the healthcare product maker’s stock worth $8,746,896,000 after buying an additional 2,323,807 shares during the last quarter. Geode Capital Management LLC lifted its position in Abbott Laboratories by 1.4% in the third quarter. Geode Capital Management LLC now owns 34,903,198 shares of the healthcare product maker’s stock worth $3,963,974,000 after buying an additional 488,764 shares during the last quarter. Wellington Management Group LLP lifted its position in Abbott Laboratories by 1.1% in the third quarter. Wellington Management Group LLP now owns 25,810,977 shares of the healthcare product maker’s stock worth $2,942,709,000 after buying an additional 280,441 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Abbott Laboratories by 25.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker’s stock worth $1,518,539,000 after buying an additional 2,711,586 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its position in shares of Abbott Laboratories by 5.6% during the third quarter. Fisher Asset Management LLC now owns 11,102,204 shares of the healthcare product maker’s stock worth $1,265,762,000 after purchasing an additional 585,915 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors.

Insider Transactions at Abbott Laboratories

In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the business’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the sale, the executive vice president now owns 125,697 shares in the company, valued at approximately $16,152,064.50. The trade was 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 accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on ABT shares. Evercore ISI lifted their target price on Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. Barclays reiterated an “overweight” rating and set a $158.00 target price (up from $149.00) on shares of Abbott Laboratories in a research report on Monday, January 27th. StockNews.com downgraded Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Wells Fargo & Company lifted their target price on Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Finally, Argus upgraded Abbott Laboratories to a “strong-buy” rating in a research note on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $133.06.

Abbott Laboratories Price Performance

ABT opened at $130.63 on Friday. The business’s 50-day moving average is $118.67 and its two-hundred day moving average is $115.82. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $132.65. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The firm has a market capitalization of $226.56 billion, a PE ratio of 17.08, a price-to-earnings-growth ratio of 2.39 and a beta of 0.75.

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

Abbott Laboratories Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th were paid a dividend of $0.59 per share. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date was Wednesday, January 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.81%. Abbott Laboratories’s payout ratio is presently 30.85%.

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.