Frontier Asset Management LLC Decreases Stock Holdings in Abbott Laboratories (NYSE:ABT)

Frontier Asset Management LLC decreased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 1.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,587 shares of the healthcare product maker’s stock after selling 351 shares during the period. Abbott Laboratories comprises approximately 1.2% of Frontier Asset Management LLC’s investment portfolio, making the stock its 26th largest holding. Frontier Asset Management LLC’s holdings in Abbott Laboratories were worth $3,573,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. OFI Invest Asset Management purchased a new position in Abbott Laboratories in the 4th quarter valued at $1,332,000. Naviter Wealth LLC lifted its holdings in Abbott Laboratories by 14.2% in the 4th quarter. Naviter Wealth LLC now owns 24,876 shares of the healthcare product maker’s stock valued at $2,814,000 after purchasing an additional 3,090 shares in the last quarter. Rialto Wealth Management LLC purchased a new position in Abbott Laboratories in the 4th quarter valued at $29,000. Larson Financial Group LLC lifted its holdings in Abbott Laboratories by 32.4% in the 4th quarter. Larson Financial Group LLC now owns 16,349 shares of the healthcare product maker’s stock valued at $1,849,000 after purchasing an additional 4,005 shares in the last quarter. Finally, Blankinship & Foster LLC purchased a new position in Abbott Laboratories in the 4th quarter valued at $1,354,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

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 $118.76. 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 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 firm had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11.03 billion. During the same period in the prior year, the firm earned $1.19 earnings per share. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. Analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 1.72%. Abbott Laboratories’s payout ratio is 30.85%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ABT shares. Evercore ISI boosted their price target on shares of Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. Royal Bank of Canada reissued an “outperform” rating and set a $135.00 price target on shares of Abbott Laboratories in a research report on Tuesday, January 21st. Citigroup boosted their price objective on shares of Abbott Laboratories from $135.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. The Goldman Sachs Group boosted their price objective on shares of Abbott Laboratories from $138.00 to $154.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Finally, StockNews.com lowered shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $137.19.

Insider Buying and Selling

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was 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 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 SEC, which is available through this hyperlink. Also, EVP Lisa D. Earnhardt sold 91,167 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 71,928 shares of the company’s stock, valued at $9,625,404.96. This trade represents a 55.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 116,449 shares of company stock worth $15,463,316. Company insiders own 1.10% of the company’s stock.

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.