Cahaba Wealth Management Inc. Lowers Stock Holdings in Abbott Laboratories (NYSE:ABT)

Cahaba Wealth Management Inc. decreased its position in shares of Abbott Laboratories (NYSE:ABTFree Report) by 4.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,025 shares of the healthcare product maker’s stock after selling 195 shares during the period. Cahaba Wealth Management Inc.’s holdings in Abbott Laboratories were worth $443,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Zevenbergen Capital Investments LLC raised its position in Abbott Laboratories by 0.6% during the third quarter. Zevenbergen Capital Investments LLC now owns 21,419 shares of the healthcare product maker’s stock valued at $2,074,000 after purchasing an additional 130 shares in the last quarter. Rockland Trust Co. grew its stake in shares of Abbott Laboratories by 1.5% during the third quarter. Rockland Trust Co. now owns 91,868 shares of the healthcare product maker’s stock valued at $8,897,000 after buying an additional 1,343 shares during the last quarter. VisionPoint Advisory Group LLC grew its stake in shares of Abbott Laboratories by 7.4% during the third quarter. VisionPoint Advisory Group LLC now owns 3,106 shares of the healthcare product maker’s stock valued at $301,000 after buying an additional 215 shares during the last quarter. Gradient Investments LLC grew its stake in shares of Abbott Laboratories by 4.7% during the fourth quarter. Gradient Investments LLC now owns 257,508 shares of the healthcare product maker’s stock valued at $28,344,000 after buying an additional 11,508 shares during the last quarter. Finally, Boston Partners grew its stake in shares of Abbott Laboratories by 634.6% during the third quarter. Boston Partners now owns 29,758 shares of the healthcare product maker’s stock valued at $2,882,000 after buying an additional 25,707 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Barclays raised their price objective on Abbott Laboratories from $133.00 to $141.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Wells Fargo & Company raised their target price on Abbott Laboratories from $116.00 to $121.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 13th. Citigroup raised their target price on Abbott Laboratories from $123.00 to $126.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Raymond James raised their target price on Abbott Laboratories from $124.00 to $127.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $128.00 target price on shares of Abbott Laboratories in a research note on Wednesday, February 14th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and an average price target of $121.77.

Read Our Latest Analysis on Abbott Laboratories

Abbott Laboratories Stock Down 0.1 %

Abbott Laboratories stock traded down $0.07 during trading hours on Tuesday, hitting $112.02. 4,559,539 shares of the stock traded hands, compared to its average volume of 5,700,051. The firm’s 50-day moving average price is $115.06 and its two-hundred day moving average price is $106.67. The company has a current ratio of 1.64, a quick ratio of 1.16 and a debt-to-equity ratio of 0.35. The company has a market cap of $194.37 billion, a PE ratio of 34.24, a PEG ratio of 2.74 and a beta of 0.74. Abbott Laboratories has a one year low of $89.67 and a one year high of $121.64.

Abbott Laboratories (NYSE:ABTGet Free Report) last released its earnings results on Wednesday, January 24th. The healthcare product maker reported $1.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.19. Abbott Laboratories had a net margin of 14.27% and a return on equity of 20.65%. The firm had revenue of $10.24 billion during the quarter, compared to analyst estimates of $10.19 billion. During the same period last year, the business earned $1.03 earnings per share. The business’s revenue was up 1.5% on a year-over-year basis. On average, research analysts forecast that Abbott Laboratories will post 4.62 EPS for the current year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $2.20 annualized dividend and a dividend yield of 1.96%. Abbott Laboratories’s payout ratio is 67.48%.

Insider Activity

In other news, EVP Andrea F. Wainer sold 12,500 shares of the business’s stock in a transaction on 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 completion of the sale, the executive vice president now 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 SEC, which is available at this hyperlink. In related news, EVP Andrea F. Wainer sold 12,500 shares of the company’s 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 transaction, the executive vice president now 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 is available at this link. Also, EVP Andrea F. Wainer sold 42,500 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $112.50, for a total transaction of $4,781,250.00. Following the completion of the transaction, the executive vice president now directly owns 65,027 shares of the company’s stock, valued at approximately $7,315,537.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,435 shares of company stock worth $6,451,298. Insiders own 0.47% of the company’s stock.

About Abbott Laboratories

(Free Report)

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.

See Also

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

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