Consolidated Planning Corp Sells 94 Shares of Abbott Laboratories (NYSE:ABT)

Consolidated Planning Corp lowered its position in Abbott Laboratories (NYSE:ABT) by 4.2% during the 4th quarter, Holdings Channel reports. The firm owned 2,126 shares of the healthcare product maker’s stock after selling 94 shares during the quarter. Consolidated Planning Corp’s holdings in Abbott Laboratories were worth $234,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Alliance Wealth Advisors LLC UT grew its stake in Abbott Laboratories by 0.4% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 25,085 shares of the healthcare product maker’s stock worth $2,761,000 after purchasing an additional 92 shares in the last quarter. Rappaport Reiches Capital Management LLC lifted its holdings in shares of Abbott Laboratories by 0.8% during the 4th quarter. Rappaport Reiches Capital Management LLC now owns 12,287 shares of the healthcare product maker’s stock valued at $1,352,000 after purchasing an additional 94 shares during the last quarter. Avion Wealth raised its stake in Abbott Laboratories by 19.4% in the 4th quarter. Avion Wealth now owns 591 shares of the healthcare product maker’s stock worth $65,000 after acquiring an additional 96 shares during the last quarter. Renaissance Investment Group LLC raised its stake in Abbott Laboratories by 0.7% in the 4th quarter. Renaissance Investment Group LLC now owns 14,204 shares of the healthcare product maker’s stock worth $1,563,000 after acquiring an additional 100 shares during the last quarter. Finally, Drive Wealth Management LLC raised its stake in Abbott Laboratories by 1.5% in the 4th quarter. Drive Wealth Management LLC now owns 6,712 shares of the healthcare product maker’s stock worth $739,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Evercore ISI lifted their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Citigroup lifted their price objective on Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Royal Bank of Canada reduced their price objective on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a research note on Thursday, April 18th. Raymond James reiterated a “buy” rating and set a $124.00 price objective on shares of Abbott Laboratories in a research note on Wednesday. Finally, Barclays reduced their price objective on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a research note on Monday, April 22nd. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $121.50.

Abbott Laboratories Price Performance

ABT stock traded up $0.67 during trading on Friday, hitting $107.53. The stock had a trading volume of 3,575,566 shares, compared to its average volume of 5,219,304. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.64 and a quick ratio of 1.16. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64. The stock has a market capitalization of $186.58 billion, a P/E ratio of 33.50, a PEG ratio of 2.59 and a beta of 0.74. The company’s 50-day moving average price is $113.64 and its two-hundred day moving average price is $108.11.

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

Abbott Laboratories Dividend Announcement

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

Insider Transactions at Abbott Laboratories

In other news, EVP Andrea F. Wainer sold 42,500 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $112.50, for a total transaction of $4,781,250.00. Following the transaction, the executive vice president now directly owns 65,027 shares in the company, valued at approximately $7,315,537.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Andrea F. Wainer sold 42,500 shares of Abbott Laboratories 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 sale, the executive vice president now owns 65,027 shares of the company’s stock, valued at approximately $7,315,537.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP John A. Jr. Mccoy sold 472 shares of Abbott Laboratories stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $118.50, for a total transaction of $55,932.00. Following the sale, the vice president now directly owns 18,760 shares in the company, valued at approximately $2,223,060. The disclosure for this sale can be found here. Insiders have sold a total of 56,435 shares of company stock worth $6,451,298 in the last ninety days. 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.