Courier Capital LLC Sells 3,744 Shares of Abbott Laboratories (NYSE:ABT)

Courier Capital LLC reduced its position in Abbott Laboratories (NYSE:ABT) by 10.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 30,501 shares of the healthcare product maker’s stock after selling 3,744 shares during the period. Courier Capital LLC’s holdings in Abbott Laboratories were worth $3,450,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Miracle Mile Advisors LLC lifted its holdings in Abbott Laboratories by 228.6% during the 4th quarter. Miracle Mile Advisors LLC now owns 35,829 shares of the healthcare product maker’s stock valued at $4,053,000 after purchasing an additional 24,925 shares during the last quarter. Horizon Wealth Management LLC lifted its stake in shares of Abbott Laboratories by 35.9% during the 4th quarter. Horizon Wealth Management LLC now owns 3,180 shares of the healthcare product maker’s stock worth $360,000 after buying an additional 840 shares during the last quarter. Sunflower Bank N.A. grew its stake in Abbott Laboratories by 1.2% in the 4th quarter. Sunflower Bank N.A. now owns 14,363 shares of the healthcare product maker’s stock valued at $1,625,000 after buying an additional 170 shares during the last quarter. Bar Harbor Wealth Management raised its holdings in Abbott Laboratories by 1.1% in the 4th quarter. Bar Harbor Wealth Management now owns 140,792 shares of the healthcare product maker’s stock valued at $15,925,000 after acquiring an additional 1,570 shares during the period. Finally, Consilio Wealth Advisors LLC boosted its holdings in shares of Abbott Laboratories by 16.5% during the fourth quarter. Consilio Wealth Advisors LLC now owns 2,126 shares of the healthcare product maker’s stock worth $241,000 after acquiring an additional 301 shares during the period. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

NYSE ABT traded up $0.81 during trading hours on Monday, hitting $113.12. The company had a trading volume of 4,409,484 shares, compared to its average volume of 4,756,693. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $121.64. The firm has a market capitalization of $196.20 billion, a price-to-earnings ratio of 34.38, a PEG ratio of 2.69 and a beta of 0.73. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The firm has a 50 day simple moving average of $115.33 and a 200 day simple moving average of $112.54.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.01. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The business had revenue of $10.64 billion for the quarter, compared to analysts’ expectations of $10.55 billion. During the same period in the prior year, the company posted $1.14 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. Equities research analysts expect that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a $0.59 dividend. The ex-dividend date is Wednesday, January 15th. 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 2.09%. Abbott Laboratories’s payout ratio is 71.73%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ABT. UBS Group lifted their price target on Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Jefferies Financial Group increased 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. Barclays upped their target price on Abbott Laboratories from $143.00 to $149.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Royal Bank of Canada raised their price target on Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Finally, Sanford C. Bernstein increased their price objective on shares of Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $131.57.

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.