Tilt Investment Management Holdings PBC Sells 2,242 Shares of Abbott Laboratories (NYSE:ABT)

Tilt Investment Management Holdings PBC reduced its stake in Abbott Laboratories (NYSE:ABT) by 24.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,010 shares of the healthcare product maker’s stock after selling 2,242 shares during the period. Abbott Laboratories makes up about 0.8% of Tilt Investment Management Holdings PBC’s holdings, making the stock its 27th largest holding. Tilt Investment Management Holdings PBC’s holdings in Abbott Laboratories were worth $772,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in ABT. Fairfield Bush & CO. bought a new position in shares of Abbott Laboratories in the first quarter worth $131,000. United Bank lifted its position in Abbott Laboratories by 7.2% during the first quarter. United Bank now owns 27,280 shares of the healthcare product maker’s stock valued at $3,229,000 after purchasing an additional 1,826 shares during the last quarter. Mackenzie Financial Corp grew its stake in Abbott Laboratories by 1.9% in the 1st quarter. Mackenzie Financial Corp now owns 813,253 shares of the healthcare product maker’s stock worth $96,257,000 after buying an additional 15,521 shares in the last quarter. Kinneret Advisory LLC increased its holdings in shares of Abbott Laboratories by 2.3% in the 1st quarter. Kinneret Advisory LLC now owns 19,467 shares of the healthcare product maker’s stock worth $2,304,000 after buying an additional 436 shares during the last quarter. Finally, Lumature Wealth Partners LLC raised its position in shares of Abbott Laboratories by 636.2% during the 1st quarter. Lumature Wealth Partners LLC now owns 2,216 shares of the healthcare product maker’s stock valued at $262,000 after buying an additional 1,915 shares in the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ABT has been the topic of a number of research analyst reports. Raymond James increased their target price on Abbott Laboratories from $124.00 to $127.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Barclays boosted their target price on Abbott Laboratories from $133.00 to $141.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Evercore ISI lifted their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Citigroup upped their price objective on shares of Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Finally, TheStreet raised shares of Abbott Laboratories from a “c+” rating to a “b-” rating in a research note on Thursday, December 21st. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average target price of $121.31.

Abbott Laboratories Price Performance

ABT stock traded down $1.37 during trading on Thursday, hitting $104.53. 3,990,830 shares of the company’s stock traded hands, compared to its average volume of 5,651,644. Abbott Laboratories has a 52 week low of $89.67 and a 52 week high of $121.64. The stock has a market capitalization of $181.38 billion, a price-to-earnings ratio of 32.29, a P/E/G ratio of 2.63 and a beta of 0.74. The business has a fifty day simple moving average of $114.42 and a 200 day simple moving average of $107.59. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.16 and a current ratio of 1.64.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. Abbott Laboratories had a net margin of 14.27% and a return on equity of 20.65%. The firm had revenue of $9.96 billion during the quarter, compared to the consensus estimate of $9.88 billion. During the same quarter last year, the firm earned $1.03 EPS. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, research analysts expect that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Friday, April 12th. Abbott Laboratories’s dividend payout ratio (DPR) is 67.48%.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 12,500 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $9,444,480. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Abbott Laboratories news, EVP Andrea F. Wainer sold 12,500 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the sale, the executive vice president now directly owns 78,704 shares in the company, valued at $9,444,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Andrea F. Wainer sold 42,500 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $112.50, for a total value 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 approximately $7,315,537.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,435 shares of company stock worth $6,451,298. 1.10% of the stock is currently owned by insiders.

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.