Sunburst Financial Group LLC Has $218,000 Holdings in Abbott Laboratories (NYSE:ABT)

Sunburst Financial Group LLC decreased its stake in Abbott Laboratories (NYSE:ABT) by 7.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,925 shares of the healthcare product maker’s stock after selling 150 shares during the quarter. Sunburst Financial Group LLC’s holdings in Abbott Laboratories were worth $218,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABT. Peterson Financial Group Inc. acquired a new stake in shares of Abbott Laboratories in the 3rd quarter valued at approximately $32,000. Valued Wealth Advisors LLC increased its stake in Abbott Laboratories by 78.4% in the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after purchasing an additional 127 shares in the last quarter. Wingate Wealth Advisors Inc. bought a new position in shares of Abbott Laboratories during the fourth quarter worth $34,000. Highline Wealth Partners LLC acquired a new position in shares of Abbott Laboratories in the 3rd quarter valued at $37,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Abbott Laboratories in the 4th quarter valued at $37,000. Institutional investors own 75.18% of the company’s stock.

Insider Buying and Selling at Abbott Laboratories

In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $128.50, for a total value of $3,054,573.50. Following the transaction, the executive vice president now directly owns 125,697 shares of the company’s stock, valued at $16,152,064.50. This 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 can be accessed through this link. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

ABT has been the topic of several recent analyst reports. StockNews.com lowered Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Mizuho boosted their price objective on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Barclays restated an “overweight” rating and set a $158.00 target price (up from $149.00) on shares of Abbott Laboratories in a report on Monday, January 27th. Royal Bank of Canada reiterated an “outperform” rating and issued a $135.00 price target on shares of Abbott Laboratories in a report on Tuesday, January 21st. Finally, UBS Group raised their price objective on shares of Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Four research 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $133.06.

Abbott Laboratories Stock Up 1.0 %

NYSE:ABT opened at $131.83 on Friday. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $132.50. The firm has a market capitalization of $228.66 billion, a price-to-earnings ratio of 17.23, a price-to-earnings-growth ratio of 2.39 and a beta of 0.75. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The stock’s 50 day moving average price is $118.34 and its two-hundred day moving average price is $115.71.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.34. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The business 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 company earned $1.19 earnings per share. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. Equities research analysts expect 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 will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend is Wednesday, January 15th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s payout ratio is 30.85%.

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.