Abbott Laboratories (NYSE:ABT) is Pacific Wealth Management’s 10th Largest Position

Pacific Wealth Management trimmed its position in Abbott Laboratories (NYSE:ABT) by 4.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,894 shares of the healthcare product maker’s stock after selling 1,081 shares during the quarter. Abbott Laboratories accounts for approximately 1.6% of Pacific Wealth Management’s holdings, making the stock its 10th biggest holding. Pacific Wealth Management’s holdings in Abbott Laboratories were worth $2,929,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ABT. Groupama Asset Managment raised its stake in shares of Abbott Laboratories by 22.2% during the third quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock valued at $26,000 after acquiring an additional 41,557 shares during the last quarter. Noble Wealth Management PBC purchased a new position in Abbott Laboratories during the 4th quarter valued at about $26,000. NewSquare Capital LLC lifted its holdings in Abbott Laboratories by 78.4% in the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock worth $27,000 after buying an additional 105 shares during the period. WealthTrak Capital Management LLC bought a new stake in shares of Abbott Laboratories in the 4th quarter worth approximately $28,000. Finally, Rialto Wealth Management LLC purchased a new position in shares of Abbott Laboratories during the fourth quarter valued at approximately $29,000. 75.18% of the stock is currently owned by institutional investors.

Insider Activity

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 949 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $138.17, for a total value of $131,123.33. Following the transaction, the executive vice president now owns 74,381 shares of the company’s stock, valued at $10,277,222.77. This represents a 1.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Lisa D. Earnhardt sold 91,167 shares of Abbott Laboratories stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $133.82, for a total value of $12,199,967.94. Following the sale, the executive vice president now owns 71,928 shares of the company’s stock, valued at approximately $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 90 days, insiders have sold 116,449 shares of company stock valued at $15,463,316. 0.46% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ABT. Evercore ISI lifted their target price on shares of Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. Wells Fargo & Company upped their target price on Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Bank of America raised their target price on Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Citigroup increased their price objective on Abbott Laboratories from $135.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Finally, Argus raised Abbott Laboratories to a “strong-buy” rating in a research report on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $137.94.

Abbott Laboratories Price Performance

NYSE:ABT opened at $132.10 on Thursday. The firm has a market capitalization of $229.10 billion, a price-to-earnings ratio of 17.27, a PEG ratio of 2.52 and a beta of 0.70. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The business has a 50 day simple moving average of $131.03 and a 200-day simple moving average of $120.69. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23.

Abbott Laboratories (NYSE:ABT) last issued its quarterly 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. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The company had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $11.03 billion. During the same period last year, the company earned $1.19 earnings per share. Abbott Laboratories’s revenue was up 7.2% on a year-over-year basis. Equities analysts forecast that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given 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 dividend yield of 1.79%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 30.85%.

Abbott Laboratories Company 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.