Abbott Laboratories (NYSE:ABT) Shares Sold by RKL Wealth Management LLC

RKL Wealth Management LLC trimmed its holdings in Abbott Laboratories (NYSE:ABT) by 2.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,773 shares of the healthcare product maker’s stock after selling 112 shares during the period. RKL Wealth Management LLC’s holdings in Abbott Laboratories were worth $427,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of ABT. Noble Wealth Management PBC purchased a new position in Abbott Laboratories in the 4th quarter worth approximately $26,000. NewSquare Capital LLC increased its holdings in shares of Abbott Laboratories by 78.4% in the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock valued at $27,000 after purchasing an additional 105 shares during the last quarter. Peterson Financial Group Inc. purchased a new position in Abbott Laboratories during the third quarter worth approximately $32,000. Wingate Wealth Advisors Inc. acquired a new position in Abbott Laboratories during the fourth quarter worth $34,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Abbott Laboratories in the 4th quarter valued at $37,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Up 1.6 %

Shares of NYSE:ABT opened at $137.23 on Friday. The firm’s 50-day moving average is $125.35 and its two-hundred day moving average is $118.71. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23. The firm has a market capitalization of $238.00 billion, a PE ratio of 17.94, a price-to-earnings-growth ratio of 2.52 and a beta of 0.70.

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

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $2.36 annualized dividend and a yield of 1.72%. Abbott Laboratories’s payout ratio is 30.85%.

Analyst Ratings Changes

Several brokerages have recently weighed in on ABT. The Goldman Sachs Group boosted their price target on shares of Abbott Laboratories from $138.00 to $154.00 and gave the company a “buy” rating in a research report on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $135.00 target price on shares of Abbott Laboratories in a report on Tuesday, January 21st. Barclays restated an “overweight” rating and set a $158.00 price target (up previously from $149.00) on shares of Abbott Laboratories in a report on Monday, January 27th. UBS Group upped their price objective on Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Finally, Stifel Nicolaus raised their target price on Abbott Laboratories from $130.00 to $135.00 and gave the stock 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 issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $137.19.

Insiders Place Their Bets

In related news, EVP Andrea F. Wainer sold 949 shares of Abbott Laboratories stock in a transaction that occurred on 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 transaction, the executive vice president now owns 74,381 shares in the company, valued at $10,277,222.77. The trade was a 1.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the stock in a transaction on 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 completion of the transaction, the executive vice president now directly owns 125,697 shares in the company, valued at $16,152,064.50. This trade represents a 15.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 116,449 shares of company stock worth $15,463,316 in the last quarter. 1.10% of the stock is owned by company insiders.

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.