Intact Investment Management Inc. Sells 8,600 Shares of Abbott Laboratories (NYSE:ABT)

Intact Investment Management Inc. reduced its position in shares of Abbott Laboratories (NYSE:ABT) by 8.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 98,400 shares of the healthcare product maker’s stock after selling 8,600 shares during the quarter. Intact Investment Management Inc.’s holdings in Abbott Laboratories were worth $11,130,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Cape Investment Advisory Inc. grew its stake in shares of Abbott Laboratories by 6.6% during the 4th quarter. Cape Investment Advisory Inc. now owns 1,236 shares of the healthcare product maker’s stock valued at $140,000 after acquiring an additional 76 shares during the period. LMG Wealth Partners LLC grew its stake in shares of Abbott Laboratories by 3.8% during the 4th quarter. LMG Wealth Partners LLC now owns 2,161 shares of the healthcare product maker’s stock valued at $244,000 after acquiring an additional 80 shares during the period. Jacobson & Schmitt Advisors LLC grew its stake in shares of Abbott Laboratories by 2.9% during the 4th quarter. Jacobson & Schmitt Advisors LLC now owns 2,827 shares of the healthcare product maker’s stock valued at $320,000 after acquiring an additional 80 shares during the period. Glass Wealth Management Co LLC grew its stake in shares of Abbott Laboratories by 3.2% during the 4th quarter. Glass Wealth Management Co LLC now owns 2,640 shares of the healthcare product maker’s stock valued at $299,000 after acquiring an additional 81 shares during the period. Finally, Austin Wealth Management LLC grew its stake in shares of Abbott Laboratories by 4.0% during the 4th quarter. Austin Wealth Management LLC now owns 2,134 shares of the healthcare product maker’s stock valued at $242,000 after acquiring an additional 83 shares during the period. 75.18% of the stock is currently owned by institutional investors.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 949 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 74,381 shares of the company’s stock, valued at approximately $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 SEC, which can be accessed through this link. Also, 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 value of $77,651.54. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders have sold a total of 116,449 shares of company stock valued at $15,463,316 over the last quarter. 0.47% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on ABT shares. StockNews.com cut Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Citigroup boosted their price target on Abbott Laboratories from $135.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Argus raised Abbott Laboratories to a “strong-buy” rating in a report on Tuesday, January 28th. Evercore ISI boosted their price target on Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. Finally, Barclays reissued an “overweight” rating and issued a $158.00 price target (up from $149.00) on shares of Abbott Laboratories in a report on Monday, January 27th. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.94.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $129.71 on Friday. The stock’s fifty day moving average is $126.90 and its 200 day moving average is $119.29. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $141.23. The firm has a market capitalization of $224.97 billion, a PE ratio of 16.96, a PEG ratio of 2.52 and a beta of 0.69. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share 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 company 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 posted $1.19 EPS. Abbott Laboratories’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders 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 1.82%. The ex-dividend date of this dividend is Tuesday, April 15th. Abbott Laboratories’s payout ratio is 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.