Wealthquest Corp Lowers Position in Abbott Laboratories (NYSE:ABT)

Wealthquest Corp cut its holdings in shares of Abbott Laboratories (NYSE:ABT) by 6.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,668 shares of the healthcare product maker’s stock after selling 790 shares during the quarter. Wealthquest Corp’s holdings in Abbott Laboratories were worth $1,013,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ABT. Heritage Wealth Advisors raised its position in shares of Abbott Laboratories by 1.9% during the 4th quarter. Heritage Wealth Advisors now owns 6,579 shares of the healthcare product maker’s stock worth $571,000 after acquiring an additional 120 shares in the last quarter. Hunter Associates Investment Management LLC raised its position in shares of Abbott Laboratories by 0.4% during the 4th quarter. Hunter Associates Investment Management LLC now owns 27,887 shares of the healthcare product maker’s stock worth $2,422,000 after acquiring an additional 120 shares in the last quarter. Private Advisory Group LLC raised its position in shares of Abbott Laboratories by 2.6% during the 4th quarter. Private Advisory Group LLC now owns 4,823 shares of the healthcare product maker’s stock worth $419,000 after acquiring an additional 123 shares in the last quarter. Usca Ria LLC raised its position in shares of Abbott Laboratories by 0.6% during the 4th quarter. Usca Ria LLC now owns 21,532 shares of the healthcare product maker’s stock worth $1,870,000 after acquiring an additional 125 shares in the last quarter. Finally, Circle Wealth Management LLC raised its position in shares of Abbott Laboratories by 3.8% during the 3rd quarter. Circle Wealth Management LLC now owns 3,468 shares of the healthcare product maker’s stock worth $290,000 after acquiring an additional 126 shares in the last quarter. Institutional investors and hedge funds own 75.02% of the company’s stock.

In other news, CFO Brian B. Yoor sold 509,850 shares of the business’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $89.73, for a total value of $45,748,840.50. Following the completion of the transaction, the chief financial officer now directly owns 155,610 shares of the company’s stock, valued at $13,962,885.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Philip P. Boudreau sold 10,600 shares of the business’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $82.00, for a total value of $869,200.00. Following the completion of the transaction, the vice president now directly owns 22,463 shares of the company’s stock, valued at $1,841,966. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 568,733 shares of company stock worth $50,878,762. 1.70% of the stock is owned by company insiders.

Several brokerages have recently weighed in on ABT. Goldman Sachs Group began coverage on Abbott Laboratories in a research report on Wednesday, February 12th. They set a “neutral” rating and a $96.00 target price on the stock. UBS Group lifted their price target on Abbott Laboratories from $99.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. lowered their target price on Abbott Laboratories from to in a research note on Thursday, January 23rd. Credit Suisse Group lowered their target price on Abbott Laboratories from $104.00 to $94.00 and set an “outperform” rating on the stock in a research note on Friday, March 6th. Finally, Raymond James lifted their target price on Abbott Laboratories from $90.00 to $99.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Abbott Laboratories has an average rating of “Buy” and an average price target of $96.13.

Shares of Abbott Laboratories stock traded up $1.06 during trading on Wednesday, reaching $70.75. The company’s stock had a trading volume of 9,350,996 shares, compared to its average volume of 7,626,521. The company has a quick ratio of 1.04, a current ratio of 1.44 and a debt-to-equity ratio of 0.53. Abbott Laboratories has a 12-month low of $61.61 and a 12-month high of $92.45. The company has a market capitalization of $110.78 billion, a P/E ratio of 34.34, a price-to-earnings-growth ratio of 1.65 and a beta of 1.17. The business has a 50 day moving average price of $81.95 and a 200-day moving average price of $84.07.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $0.95 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.95. Abbott Laboratories had a return on equity of 18.39% and a net margin of 11.56%. The firm had revenue of $8.31 billion for the quarter, compared to the consensus estimate of $8.26 billion. During the same period in the previous year, the business earned $0.81 earnings per share. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. Research analysts predict that Abbott Laboratories will post 3.6 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Wednesday, April 15th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 2.04%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Tuesday, April 14th. Abbott Laboratories’s payout ratio is presently 44.44%.

Abbott Laboratories Company Profile

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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