1900 Wealth Management LLC Sells 1,096 Shares of Abbott Laboratories (NYSE:ABT)

1900 Wealth Management LLC lowered its stake in shares of Abbott Laboratories (NYSE:ABT) by 18.6% during the fourth quarter, Holdings Channel reports. The firm owned 4,795 shares of the healthcare product maker’s stock after selling 1,096 shares during the period. 1900 Wealth Management LLC’s holdings in Abbott Laboratories were worth $528,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Wellington Management Group LLP boosted its holdings in shares of Abbott Laboratories by 4.3% during the third quarter. Wellington Management Group LLP now owns 31,208,711 shares of the healthcare product maker’s stock worth $3,022,564,000 after purchasing an additional 1,298,219 shares during the period. Northern Trust Corp boosted its stake in Abbott Laboratories by 1.5% in the third quarter. Northern Trust Corp now owns 23,016,235 shares of the healthcare product maker’s stock valued at $2,229,122,000 after acquiring an additional 343,559 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Abbott Laboratories by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,153,877 shares of the healthcare product maker’s stock valued at $1,164,611,000 after purchasing an additional 32,157 shares during the last quarter. Flossbach Von Storch AG raised its holdings in Abbott Laboratories by 1.5% in the 4th quarter. Flossbach Von Storch AG now owns 9,149,611 shares of the healthcare product maker’s stock worth $1,007,098,000 after acquiring an additional 135,821 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Abbott Laboratories by 0.4% during the 3rd quarter. Invesco Ltd. now owns 5,949,700 shares of the healthcare product maker’s stock worth $576,228,000 after acquiring an additional 20,851 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ABT shares. Citigroup upped their price target on Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Raymond James upped their price target on Abbott Laboratories from $124.00 to $127.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Barclays decreased their price target on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a research note on Monday. Royal Bank of Canada decreased their target price on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a research report on Thursday, April 18th. Finally, Evercore ISI upped their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $121.80.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 42,500 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $112.50, for a total value of $4,781,250.00. Following the completion of the transaction, the executive vice president now owns 65,027 shares in the company, valued at $7,315,537.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Andrea F. Wainer sold 42,500 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $112.50, for a total value of $4,781,250.00. Following the sale, the executive vice president now directly owns 65,027 shares in the company, valued at approximately $7,315,537.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP John A. Jr. Mccoy sold 472 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were 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 of the company’s stock, valued at $2,223,060. The disclosure for this sale can be found here. Insiders sold 56,435 shares of company stock valued at $6,451,298 over the last quarter. 0.47% of the stock is currently owned by insiders.

Abbott Laboratories Price Performance

Shares of NYSE:ABT traded up $0.54 during trading on Tuesday, hitting $107.61. 800,429 shares of the stock were exchanged, compared to its average volume of 5,687,465. The company has a fifty day moving average price of $114.08 and a two-hundred day moving average price of $107.90. The company has a market cap of $186.72 billion, a PE ratio of 33.36, a P/E/G ratio of 2.58 and a beta of 0.74. Abbott Laboratories has a 12-month low of $89.67 and a 12-month high of $121.64. The company has a current ratio of 1.64, a quick ratio of 1.16 and a debt-to-equity ratio of 0.35.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data 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 company had revenue of $9.96 billion for the quarter, compared to the consensus estimate of $9.88 billion. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.32%. The business’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.03 EPS. On average, analysts forecast that Abbott Laboratories will post 4.62 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend is Friday, April 12th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 68.54%.

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.