Corbyn Investment Management Inc. MD Sells 1,342 Shares of Abbott Laboratories (NYSE:ABT)

Corbyn Investment Management Inc. MD cut its stake in Abbott Laboratories (NYSE:ABT) by 10.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,054 shares of the healthcare product maker’s stock after selling 1,342 shares during the quarter. Corbyn Investment Management Inc. MD’s holdings in Abbott Laboratories were worth $1,327,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Wedge Capital Management L L P NC grew its stake in shares of Abbott Laboratories by 9.5% in the third quarter. Wedge Capital Management L L P NC now owns 3,413 shares of the healthcare product maker’s stock valued at $331,000 after acquiring an additional 296 shares in the last quarter. Cedar Brook Financial Partners LLC grew its position in shares of Abbott Laboratories by 19.4% during the 3rd quarter. Cedar Brook Financial Partners LLC now owns 5,221 shares of the healthcare product maker’s stock worth $506,000 after purchasing an additional 850 shares in the last quarter. Newbridge Financial Services Group Inc. increased its holdings in shares of Abbott Laboratories by 65.3% during the third quarter. Newbridge Financial Services Group Inc. now owns 762 shares of the healthcare product maker’s stock worth $74,000 after purchasing an additional 301 shares during the period. Meridian Wealth Management LLC boosted its stake in shares of Abbott Laboratories by 83.3% in the third quarter. Meridian Wealth Management LLC now owns 29,506 shares of the healthcare product maker’s stock valued at $2,858,000 after buying an additional 13,406 shares during the period. Finally, Nikulski Financial Inc. grew its position in Abbott Laboratories by 8.7% during the third quarter. Nikulski Financial Inc. now owns 11,168 shares of the healthcare product maker’s stock worth $1,082,000 after buying an additional 894 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Abbott Laboratories stock traded up $0.56 during mid-day trading on Friday, reaching $107.42. The company had a trading volume of 1,423,835 shares, compared to its average volume of 5,633,082. The business has a fifty day simple moving average of $113.77 and a 200 day simple moving average of $107.96. The company has a market cap of $186.39 billion, a P/E ratio of 33.22, a P/E/G ratio of 2.57 and a beta of 0.74. 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 has a fifty-two week low of $89.67 and a fifty-two week high of $121.64.

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 analysts’ consensus estimates of $0.96 by $0.02. The business had revenue of $9.96 billion for 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 quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 EPS. On average, equities research analysts predict that Abbott Laboratories will post 4.62 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Friday, April 12th. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

Insider Buying and Selling at Abbott Laboratories

In related news, VP John A. Jr. Mccoy sold 472 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $118.50, for a total value of $55,932.00. Following the sale, the vice president now directly owns 18,760 shares in the company, valued at $2,223,060. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Daniel Gesua Sive Salvadori sold 963 shares of the firm’s 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 $114,115.50. Following the completion of the sale, the executive vice president now owns 125,697 shares of the company’s stock, valued at $14,895,094.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP John A. Jr. Mccoy sold 472 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $2,223,060. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,435 shares of company stock worth $6,451,298. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Barclays dropped 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. Raymond James reaffirmed a “buy” rating and issued a $124.00 price target on shares of Abbott Laboratories in a research note on Wednesday. Evercore ISI increased their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Citigroup boosted their target price on shares of Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Finally, Royal Bank of Canada reduced their price target on shares of Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating on the stock in a research report on Thursday, April 18th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.50.

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.