Sequent Asset Management LLC Trims Position in Abbott Laboratories (NYSE:ABT)

Sequent Asset Management LLC reduced its stake in shares of Abbott Laboratories (NYSE:ABT) by 4.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,407 shares of the healthcare product maker’s stock after selling 330 shares during the quarter. Sequent Asset Management LLC’s holdings in Abbott Laboratories were worth $705,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ABT. Rise Advisors LLC purchased a new position in Abbott Laboratories during the fourth quarter valued at $37,000. Stuart Chaussee & Associates Inc. grew its holdings in Abbott Laboratories by 236.0% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 336 shares of the healthcare product maker’s stock worth $37,000 after purchasing an additional 236 shares during the period. Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of Abbott Laboratories during the third quarter valued at approximately $40,000. Cornerstone Planning Group LLC lifted its holdings 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 valued at $44,000 after purchasing an additional 201 shares during the last quarter. Finally, Legacy Financial Group LLC bought a new stake in shares of Abbott Laboratories in the 3rd quarter worth approximately $46,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Abbott Laboratories news, VP John A. Jr. Mccoy sold 472 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $118.50, for a total value of $55,932.00. Following the completion of the transaction, the vice president now directly owns 18,760 shares in the company, valued at approximately $2,223,060. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Andrea F. Wainer sold 12,500 shares of the company’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 transaction of $1,500,000.00. Following the sale, the executive vice president now directly owns 78,704 shares of the company’s stock, valued at approximately $9,444,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP John A. Jr. Mccoy sold 472 shares of the business’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 $55,932.00. Following the completion of the sale, the vice president now owns 18,760 shares in the company, valued at approximately $2,223,060. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,935 shares of company stock worth $1,670,048. Company insiders own 0.47% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock traded down $1.33 during trading hours on Tuesday, reaching $105.94. 5,073,568 shares of the stock traded hands, compared to its average volume of 5,625,535. The company has a 50 day moving average price of $113.29 and a 200 day moving average price of $108.44. Abbott Laboratories has a one year low of $89.67 and a one 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. The firm has a market capitalization of $183.82 billion, a price-to-earnings ratio of 33.00, a P/E/G ratio of 2.59 and a beta of 0.74.

Abbott Laboratories (NYSE:ABT) last announced its 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 13.96% and a return on equity of 20.32%. The business had revenue of $9.96 billion during the quarter, compared to analysts’ expectations of $9.88 billion. During the same period in the prior year, the company earned $1.03 earnings per share. The firm’s revenue was up 2.2% on a year-over-year basis. On average, equities research analysts expect that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on ABT shares. Raymond James reissued a “buy” rating and issued a $124.00 target price on shares of Abbott Laboratories in a report on Wednesday, April 24th. Royal Bank of Canada reduced their price objective on shares of Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a research note on Thursday, April 18th. Evercore ISI upped their target price 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. Barclays decreased their price objective on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a report on Monday, April 22nd. Finally, Citigroup lifted their target price on Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.