Nadler Financial Group Inc. Sells 5,272 Shares of Abbott Laboratories (NYSE:ABT)

Nadler Financial Group Inc. reduced its position in Abbott Laboratories (NYSE:ABT) by 37.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,902 shares of the healthcare product maker’s stock after selling 5,272 shares during the quarter. Nadler Financial Group Inc.’s holdings in Abbott Laboratories were worth $980,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new stake in Abbott Laboratories in the fourth quarter valued at approximately $37,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in shares of Abbott Laboratories during the third quarter worth about $40,000. Cornerstone Planning Group LLC increased its stake in shares of Abbott Laboratories by 79.4% during the third quarter. Cornerstone Planning Group LLC now owns 454 shares of the healthcare product maker’s stock worth $44,000 after purchasing an additional 201 shares in the last quarter. Legacy Financial Group LLC acquired a new position in Abbott Laboratories during the third quarter worth about $46,000. Finally, Briaud Financial Planning Inc acquired a new position in Abbott Laboratories during the third quarter worth about $48,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on ABT. Barclays decreased their target price on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a report on Monday. Raymond James restated a “buy” rating and issued a $124.00 price objective on shares of Abbott Laboratories in a report on Wednesday. Evercore ISI raised their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Citigroup lifted their price target on shares of Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Finally, Royal Bank of Canada lowered their price objective on shares of Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating on the stock in a research report on Thursday, April 18th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average price target of $121.50.

Abbott Laboratories Trading Up 0.5 %

Shares of NYSE:ABT traded up $0.57 during trading on Friday, reaching $107.43. The stock had a trading volume of 1,009,596 shares, compared to its average volume of 5,628,387. The business has a fifty day moving average price of $113.77 and a 200-day moving average price of $107.96. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.35. The stock has a market cap of $186.41 billion, a P/E ratio of 33.22, a PEG ratio of 2.57 and a beta of 0.74. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, topping the consensus estimate of $0.96 by $0.02. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.32%. The firm had revenue of $9.96 billion during the quarter, compared to analyst estimates of $9.88 billion. During the same quarter in the prior year, the business posted $1.03 earnings per share. Abbott Laboratories’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, analysts anticipate that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Friday, April 12th. Abbott Laboratories’s dividend payout ratio (DPR) is 68.54%.

Insider Buying and Selling

In related news, EVP Andrea F. Wainer sold 42,500 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $112.50, for a total transaction of $4,781,250.00. Following the completion of the transaction, the executive vice president now owns 65,027 shares of the company’s stock, valued at $7,315,537.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Abbott Laboratories news, EVP Andrea F. Wainer sold 42,500 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $112.50, for a total transaction of $4,781,250.00. Following the completion of the sale, the executive vice president now directly owns 65,027 shares in the company, valued at $7,315,537.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Daniel Gesua Sive Salvadori sold 963 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $118.50, for a total transaction of $114,115.50. Following the completion of the transaction, the executive vice president now owns 125,697 shares of the company’s stock, valued at $14,895,094.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 56,435 shares of company stock valued at $6,451,298. 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.