TCI Wealth Advisors Inc. Sells 261 Shares of Abbott Laboratories (NYSE:ABT)

TCI Wealth Advisors Inc. trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT) by 1.4% during the fourth quarter, HoldingsChannel reports. The firm owned 18,744 shares of the healthcare product maker’s stock after selling 261 shares during the quarter. TCI Wealth Advisors Inc.’s holdings in Abbott Laboratories were worth $2,063,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in ABT. Signature Resources Capital Management LLC bought a new stake in Abbott Laboratories in the 4th quarter valued at about $29,000. Rise Advisors LLC bought a new stake in Abbott Laboratories in the 4th quarter valued at about $37,000. Stuart Chaussee & Associates Inc. raised its stake in Abbott Laboratories by 236.0% in the 4th quarter. Stuart Chaussee & Associates Inc. now owns 336 shares of the healthcare product maker’s stock valued at $37,000 after acquiring an additional 236 shares during the period. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in Abbott Laboratories in the 3rd quarter valued at about $40,000. Finally, Cornerstone Planning Group LLC raised its stake in Abbott Laboratories by 79.4% in the 3rd quarter. Cornerstone Planning Group LLC now owns 454 shares of the healthcare product maker’s stock valued at $44,000 after acquiring an additional 201 shares during the period. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Price Performance

ABT traded down $0.02 during midday trading on Friday, hitting $105.90. The stock had a trading volume of 3,610,492 shares, compared to its average volume of 5,320,693. The company has a market cap of $183.76 billion, a P/E ratio of 32.99, a price-to-earnings-growth ratio of 2.55 and a beta of 0.76. The business has a fifty day moving average of $112.52 and a 200 day moving average of $108.71. 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 has a 1 year low of $89.67 and a 1 year high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its earnings results 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. The business had revenue of $9.96 billion during the quarter, compared to analyst estimates of $9.88 billion. Abbott Laboratories had a return on equity of 20.32% and a net margin of 13.96%. Abbott Laboratories’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.03 earnings per share. As a group, equities analysts forecast that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ABT. Royal Bank of Canada lowered their price objective on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating on the stock in a research note on Thursday, April 18th. Raymond James reiterated a “buy” rating and set a $124.00 price target on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Citigroup upped their price target on Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Evercore ISI upped their price target on Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Finally, Barclays cut their price objective 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 research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $121.50.

Insiders Place Their Bets

In other news, EVP Andrea F. Wainer sold 12,500 shares of the 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 completion of the sale, the executive vice president now owns 78,704 shares of the company’s stock, valued at $9,444,480. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, VP John A. Jr. Mccoy sold 472 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $2,223,060. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Andrea F. Wainer sold 12,500 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were 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 directly owns 78,704 shares of the company’s stock, valued at approximately $9,444,480. The disclosure for this sale can be found here. Insiders sold a total of 13,935 shares of company stock valued at $1,670,048 over the last quarter. 1.10% of the stock is owned by corporate insiders.

About Abbott Laboratories

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.