Angeles Wealth Management LLC Lowers Stock Holdings in Abbott Laboratories (NYSE:ABT)

Angeles Wealth Management LLC lessened its stake in shares of Abbott Laboratories (NYSE:ABT) by 4.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,452 shares of the healthcare product maker’s stock after selling 409 shares during the period. Angeles Wealth Management LLC’s holdings in Abbott Laboratories were worth $1,069,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of ABT. Groupama Asset Managment grew its position in shares of Abbott Laboratories by 22.2% during the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after buying an additional 41,557 shares in the last quarter. Peterson Financial Group Inc. bought a new position in Abbott Laboratories during the 3rd quarter worth about $32,000. Valued Wealth Advisors LLC increased its position in Abbott Laboratories by 78.4% during the 3rd 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 during the period. Highline Wealth Partners LLC bought a new stake in shares of Abbott Laboratories in the 3rd quarter valued at about $37,000. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of Abbott Laboratories during the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of ABT opened at $129.11 on Monday. The stock has a 50-day moving average of $117.46 and a two-hundred day moving average of $115.18. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The stock has a market cap of $223.93 billion, a P/E ratio of 16.88, a P/E/G ratio of 2.39 and a beta of 0.75. Abbott Laboratories has a one year low of $99.71 and a one year high of $132.50.

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

Abbott Laboratories Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a dividend of $0.59 per share. The ex-dividend date is Wednesday, January 15th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 dividend on an annualized basis and a yield of 1.83%. Abbott Laboratories’s payout ratio is currently 30.85%.

Insiders Place Their Bets

In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 125,697 shares in the company, valued at $16,152,064.50. This represents a 15.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ABT has been the subject of a number of analyst reports. Evercore ISI upped their target price on Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. Argus upgraded Abbott Laboratories to a “strong-buy” rating in a research note on Tuesday, January 28th. Royal Bank of Canada reiterated an “outperform” rating and issued a $135.00 target price on shares of Abbott Laboratories in a research note on Tuesday, January 21st. Piper Sandler raised their price target on shares of Abbott Laboratories from $131.00 to $133.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Finally, Stifel Nicolaus boosted their price objective on shares of Abbott Laboratories from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.06.

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.