Abbott Laboratories (NYSE:ABT) is Pacific Wealth Management’s 10th Largest Position

Pacific Wealth Management lowered its position in Abbott Laboratories (NYSE:ABT) by 4.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 25,894 shares of the healthcare product maker’s stock after selling 1,081 shares during the quarter. Abbott Laboratories comprises approximately 1.6% of Pacific Wealth Management’s investment portfolio, making the stock its 10th largest holding. Pacific Wealth Management’s holdings in Abbott Laboratories were worth $2,929,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. Groupama Asset Managment grew its stake in Abbott Laboratories by 22.2% during the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after buying an additional 41,557 shares during the last quarter. Noble Wealth Management PBC acquired a new stake in Abbott Laboratories in the fourth quarter worth about $26,000. NewSquare Capital LLC grew its stake in shares of Abbott Laboratories by 78.4% during the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock worth $27,000 after acquiring an additional 105 shares during the last quarter. WealthTrak Capital Management LLC purchased a new position in shares of Abbott Laboratories in the 4th quarter valued at approximately $28,000. Finally, Rialto Wealth Management LLC acquired a new stake in Abbott Laboratories in the 4th quarter worth approximately $29,000. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Up 0.3 %

ABT stock opened at $132.10 on Thursday. The company has a market cap of $229.10 billion, a price-to-earnings ratio of 17.27, a PEG ratio of 2.52 and a beta of 0.70. The firm has a 50-day moving average of $131.03 and a two-hundred day moving average of $120.69. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $141.23. 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 (NYSE:ABT) last announced its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, hitting analysts’ consensus estimates of $1.34. The firm had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $11.03 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.19 earnings per share. As a group, analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.79%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories’s payout ratio is currently 30.85%.

Insiders Place Their Bets

In other Abbott Laboratories news, SVP Eric Shroff sold 562 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $138.17, for a total value of $77,651.54. Following the transaction, the senior vice president now owns 31,970 shares of the company’s stock, valued at $4,417,294.90. This represents a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 sale, the executive vice president now owns 125,697 shares of the company’s stock, valued at approximately $16,152,064.50. This represents a 15.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 116,449 shares of company stock valued at $15,463,316 over the last ninety days. Company insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on ABT. Stifel Nicolaus lifted their price objective 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. UBS Group boosted their price target on Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Wells Fargo & Company raised their price objective on Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Citigroup increased their price target on shares of Abbott Laboratories from $135.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Finally, Bank of America lifted their price objective on shares of Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.94.

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.