Tufton Capital Management Cuts Holdings in Abbott Laboratories (NYSE:ABT)

Tufton Capital Management decreased its stake in shares of Abbott Laboratories (NYSE:ABT) by 0.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 71,257 shares of the healthcare product maker’s stock after selling 146 shares during the quarter. Abbott Laboratories makes up 1.5% of Tufton Capital Management’s investment portfolio, making the stock its 27th biggest holding. Tufton Capital Management’s holdings in Abbott Laboratories were worth $8,060,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of ABT. Groupama Asset Managment boosted its position in shares of Abbott Laboratories by 22.2% in the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock valued at $26,000 after purchasing an additional 41,557 shares during the period. Peterson Financial Group Inc. acquired a new stake in Abbott Laboratories during the 3rd quarter worth approximately $32,000. Valued Wealth Advisors LLC lifted its position in Abbott Laboratories by 78.4% during the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after acquiring an additional 127 shares during the period. Wingate Wealth Advisors Inc. acquired a new stake in Abbott Laboratories during the 4th quarter worth approximately $34,000. Finally, Highline Wealth Partners LLC acquired a new stake in Abbott Laboratories during the 3rd quarter worth approximately $37,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

NYSE ABT opened at $135.89 on Friday. The stock has a market capitalization of $235.67 billion, a P/E ratio of 17.76, a P/E/G ratio of 2.52 and a beta of 0.75. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $136.99. The business’s fifty day moving average is $122.60 and its two-hundred day moving average is $117.56. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60.

Abbott Laboratories (NYSE:ABT) last announced 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 net margin of 31.95% and a return on equity of 20.74%. The company had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $11.03 billion. During the same period in the previous year, the business earned $1.19 EPS. The company’s revenue was up 7.2% on a year-over-year basis. On average, research analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories’s dividend payout ratio is presently 30.85%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company increased their target price on Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Evercore ISI increased their target price on Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Stifel Nicolaus raised their price objective on Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Barclays reaffirmed an “overweight” rating and issued a $158.00 price objective (up from $149.00) on shares of Abbott Laboratories in a research note on Monday, January 27th. Finally, UBS Group raised their price objective on Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average price target of $133.06.

Insider Activity

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the firm’s 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 completion of the transaction, the executive vice president now owns 125,697 shares in the company, valued at $16,152,064.50. This trade represents a 15.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is currently owned by company 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.