Wealthspire Advisors LLC Lowers Holdings in Abbott Laboratories (NYSE:ABT)

Wealthspire Advisors LLC decreased its holdings in Abbott Laboratories (NYSE:ABT) by 1.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 40,138 shares of the healthcare product maker’s stock after selling 560 shares during the quarter. Wealthspire Advisors LLC’s holdings in Abbott Laboratories were worth $4,418,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Signature Resources Capital Management LLC acquired a new position in Abbott Laboratories in the 4th quarter worth about $29,000. Rise Advisors LLC acquired a new position in shares of Abbott Laboratories during the fourth quarter valued at approximately $37,000. Stuart Chaussee & Associates Inc. raised its holdings in shares of Abbott Laboratories by 236.0% during the fourth 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 last quarter. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of Abbott Laboratories during the third quarter valued at approximately $40,000. Finally, Cornerstone Planning Group LLC raised 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 acquiring an additional 201 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Trading Down 1.2 %

Abbott Laboratories stock traded down $1.23 during mid-day trading on Wednesday, hitting $104.94. The company’s stock had a trading volume of 6,149,178 shares, compared to its average volume of 5,560,422. The firm has a market capitalization of $182.56 billion, a PE ratio of 32.69, a price-to-earnings-growth 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 current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.32. The stock’s fifty day moving average is $112.00 and its two-hundred day moving average is $108.85.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.02. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.96%. The company had revenue of $9.96 billion during the quarter, compared to analyst estimates of $9.88 billion. During the same period in the prior year, the business posted $1.03 earnings per share. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, analysts anticipate that Abbott Laboratories will post 4.62 EPS for the current year.

Abbott Laboratories Dividend Announcement

The company also recently declared 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 is Friday, April 12th. This represents a $2.20 annualized dividend and a dividend yield of 2.10%. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

Insider Transactions at Abbott Laboratories

In other news, EVP Lisa D. Earnhardt sold 22,852 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total value of $2,428,025.00. Following the sale, the executive vice president now directly owns 61,462 shares in the company, valued at $6,530,337.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Lisa D. Earnhardt sold 22,852 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total value of $2,428,025.00. Following the sale, the executive vice president now directly owns 61,462 shares in the company, valued at $6,530,337.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Andrea F. Wainer sold 12,500 shares of the stock in a transaction 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 completion of the sale, the executive vice president now owns 78,704 shares in the company, valued at $9,444,480. The disclosure for this sale can be found here. Insiders sold a total of 36,787 shares of company stock worth $4,098,073 over the last ninety days. Company insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

ABT has been the subject of a number of research analyst reports. Raymond James reissued a “buy” rating and set a $124.00 target price on shares of Abbott Laboratories in a report on Wednesday, April 24th. Royal Bank of Canada cut their price target on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a report on Thursday, April 18th. Citigroup increased their price target on Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Evercore ISI increased their price target on Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Finally, Barclays cut their price target 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 stock. Based on data from MarketBeat.com, Abbott Laboratories currently 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.