Abbott Laboratories (NYSE:ABT) Shares Sold by One Charles Private Wealth Services LLC

One Charles Private Wealth Services LLC lowered its position in Abbott Laboratories (NYSE:ABT) by 13.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,757 shares of the healthcare product maker’s stock after selling 585 shares during the quarter. One Charles Private Wealth Services LLC’s holdings in Abbott Laboratories were worth $414,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Alliance Wealth Advisors LLC UT raised its position in shares of Abbott Laboratories by 0.4% in the 4th quarter. Alliance Wealth Advisors LLC UT now owns 25,085 shares of the healthcare product maker’s stock valued at $2,761,000 after purchasing an additional 92 shares in the last quarter. Rappaport Reiches Capital Management LLC grew its holdings in 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 worth $1,352,000 after acquiring an additional 94 shares in the last quarter. Avion Wealth increased its position in shares of 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 purchasing an additional 96 shares during the last quarter. Renaissance Investment Group LLC raised its stake in shares of 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 valued at $1,563,000 after purchasing an additional 100 shares in the last quarter. Finally, Drive Wealth Management LLC grew its stake in Abbott Laboratories by 1.5% in the fourth quarter. Drive Wealth Management LLC now owns 6,712 shares of the healthcare product maker’s stock worth $739,000 after purchasing an additional 100 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Price Performance

Abbott Laboratories stock traded down $0.02 during trading hours on Friday, hitting $105.90. 3,610,492 shares of the company traded hands, compared to its average volume of 5,320,693. The firm’s 50-day simple moving average is $112.52 and its two-hundred day simple moving average is $108.51. The firm has a market cap of $183.76 billion, a P/E ratio of 32.99, a P/E/G ratio of 2.55 and a beta of 0.76. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.35.

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

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Friday, April 12th. Abbott Laboratories’s payout ratio is 68.54%.

Insider Transactions at Abbott Laboratories

In related news, EVP Daniel Gesua Sive Salvadori sold 963 shares of the firm’s 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 $114,115.50. Following the completion of the sale, the executive vice president now directly owns 125,697 shares in the company, valued at $14,895,094.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Daniel Gesua Sive Salvadori sold 963 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $114,115.50. Following the completion of the sale, the executive vice president now directly owns 125,697 shares of the company’s stock, valued at $14,895,094.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Andrea F. Wainer sold 12,500 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $120.00, for a total value of $1,500,000.00. Following the sale, the executive vice president now owns 78,704 shares in the company, valued at approximately $9,444,480. The disclosure for this sale can be found here. Insiders have sold 13,935 shares of company stock valued at $1,670,048 in the last quarter. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on ABT. Evercore ISI increased their target price on Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Raymond James reiterated a “buy” rating and set a $124.00 target price on shares of Abbott Laboratories in a research note on Wednesday, April 24th. Royal Bank of Canada decreased their price target on shares of Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a report on Thursday, April 18th. Citigroup raised their target price on shares of Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Finally, Barclays lowered their target price on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a report 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, the stock has an average rating of “Moderate Buy” and an average target price of $121.50.

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.