Abbott Laboratories (NYSE:ABT) Stock Holdings Reduced by Peninsula Asset Management Inc.

Peninsula Asset Management Inc. trimmed its position in shares of Abbott Laboratories (NYSE:ABT) by 1.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,562 shares of the healthcare product maker’s stock after selling 375 shares during the quarter. Abbott Laboratories makes up about 1.7% of Peninsula Asset Management Inc.’s investment portfolio, making the stock its 22nd largest holding. Peninsula Asset Management Inc.’s holdings in Abbott Laboratories were worth $3,231,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ABT. Impax Asset Management Group plc lifted its stake in shares of Abbott Laboratories by 0.5% in the 3rd quarter. Impax Asset Management Group plc now owns 557,608 shares of the healthcare product maker’s stock valued at $63,573,000 after purchasing an additional 2,754 shares during the last quarter. United Bank increased its holdings in shares of Abbott Laboratories by 1.8% during the 3rd quarter. United Bank now owns 27,284 shares of the healthcare product maker’s stock valued at $3,111,000 after acquiring an additional 488 shares during the last quarter. Broderick Brian C raised its stake in shares of Abbott Laboratories by 0.3% in the 3rd quarter. Broderick Brian C now owns 115,876 shares of the healthcare product maker’s stock valued at $13,211,000 after acquiring an additional 290 shares in the last quarter. CIBC Asset Management Inc boosted its position in Abbott Laboratories by 2.2% during the third quarter. CIBC Asset Management Inc now owns 696,651 shares of the healthcare product maker’s stock worth $79,353,000 after purchasing an additional 14,708 shares during the period. Finally, Vectors Research Management LLC acquired a new position in Abbott Laboratories in the 3rd quarter valued at $1,642,000. Institutional investors own 75.18% of the company’s stock.

Insider Activity

In related news, EVP Lisa D. Earnhardt sold 91,167 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $133.82, for a total value of $12,199,967.94. Following the sale, the executive vice president now directly owns 71,928 shares of the company’s stock, valued at approximately $9,625,404.96. The trade was a 55.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Andrea F. Wainer sold 949 shares of the business’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 $131,123.33. Following the completion of the sale, the executive vice president now owns 74,381 shares in the company, valued at approximately $10,277,222.77. This trade represents a 1.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 116,449 shares of company stock valued at $15,463,316 in the last ninety days. 0.47% of the stock is owned by insiders.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT opened at $127.02 on Friday. The stock has a market capitalization of $220.29 billion, a P/E ratio of 16.60, a P/E/G ratio of 2.52 and a beta of 0.69. 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 has a 1-year low of $99.71 and a 1-year high of $141.23. The business has a 50-day moving average price of $127.16 and a two-hundred day moving average price of $119.38.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.34. The firm had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $11.03 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period last year, the firm earned $1.19 earnings per share. Equities analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 30.85%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus raised their price target on Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Wells Fargo & Company upped their price target on Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. StockNews.com downgraded shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $135.00 target price on shares of Abbott Laboratories in a research note on Tuesday, January 21st. Finally, Argus raised Abbott Laboratories to a “strong-buy” rating in a report on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to 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.