Abbott Laboratories (NYSE:ABT) Holdings Trimmed by First Financial Bankshares Inc

First Financial Bankshares Inc lowered its holdings in Abbott Laboratories (NYSE:ABT) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 109,401 shares of the healthcare product maker’s stock after selling 2,179 shares during the period. First Financial Bankshares Inc’s holdings in Abbott Laboratories were worth $12,374,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Noble Wealth Management PBC acquired a new stake in shares of Abbott Laboratories during the fourth quarter worth approximately $26,000. NewSquare Capital LLC boosted its stake in shares of Abbott Laboratories by 78.4% during the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock valued at $27,000 after buying an additional 105 shares during the period. Rialto Wealth Management LLC acquired a new position in shares of Abbott Laboratories in the fourth quarter worth $29,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Abbott Laboratories during the fourth quarter worth $34,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Abbott Laboratories during the fourth quarter valued at $37,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 1.1 %

Shares of ABT opened at $126.18 on Wednesday. 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 company has a 50-day moving average price of $127.71 and a two-hundred day moving average price of $119.67. The stock has a market cap of $218.83 billion, a price-to-earnings ratio of 16.49, a P/E/G ratio of 2.52 and a beta of 0.70. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $141.23.

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

Abbott Laboratories Dividend Announcement

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 given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 30.85%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. StockNews.com lowered Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $135.00 price objective on shares of Abbott Laboratories in a research report on Tuesday, January 21st. Evercore ISI boosted their target price on shares of Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. Bank of America lifted their price objective on shares of Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Finally, Wells Fargo & Company increased their target price on shares of Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Four analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $137.94.

Insider Activity at Abbott Laboratories

In related news, SVP Eric Shroff sold 562 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $138.17, for a total transaction of $77,651.54. Following the completion of the sale, the senior vice president now directly owns 31,970 shares of the company’s stock, valued at $4,417,294.90. The trade was a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 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 approximately $16,152,064.50. This trade represents a 15.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 116,449 shares of company stock valued at $15,463,316 in the last ninety days. Insiders own 1.10% of the company’s stock.

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.