Abbott Laboratories (NYSE:ABT) Shares Sold by Argonautica Private Wealth Management Inc.

Argonautica Private Wealth Management Inc. lowered its holdings in Abbott Laboratories (NYSE:ABT) by 0.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,622 shares of the healthcare product maker’s stock after selling 237 shares during the quarter. Abbott Laboratories accounts for 1.8% of Argonautica Private Wealth Management Inc.’s holdings, making the stock its 12th biggest position. Argonautica Private Wealth Management Inc.’s holdings in Abbott Laboratories were worth $4,361,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Rappaport Reiches Capital Management LLC boosted its position in Abbott Laboratories by 0.8% during the fourth quarter. Rappaport Reiches Capital Management LLC now owns 12,287 shares of the healthcare product maker’s stock worth $1,352,000 after purchasing an additional 94 shares during the period. Avion Wealth boosted its position in Abbott Laboratories by 19.4% during the fourth quarter. Avion Wealth now owns 591 shares of the healthcare product maker’s stock worth $65,000 after purchasing an additional 96 shares during the period. Renaissance Investment Group LLC boosted its position in shares of Abbott Laboratories by 0.7% in the fourth quarter. Renaissance Investment Group LLC now owns 14,204 shares of the healthcare product maker’s stock valued at $1,563,000 after acquiring an additional 100 shares during the period. Drive Wealth Management LLC boosted its position in shares of Abbott Laboratories by 1.5% in the fourth quarter. Drive Wealth Management LLC now owns 6,712 shares of the healthcare product maker’s stock valued at $739,000 after acquiring an additional 100 shares during the period. Finally, First Fiduciary Investment Counsel Inc. boosted its position in shares of Abbott Laboratories by 2.7% in the fourth quarter. First Fiduciary Investment Counsel Inc. now owns 3,776 shares of the healthcare product maker’s stock valued at $416,000 after acquiring an additional 101 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Citigroup increased their price objective on Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Barclays lowered their target price on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a research note on Monday, April 22nd. Royal Bank of Canada decreased their price target on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating on the stock in a report on Thursday, April 18th. Evercore ISI raised 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, Raymond James reiterated a “buy” rating and issued a $124.00 price target on shares of Abbott Laboratories in a report on Wednesday. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $121.50.

Abbott Laboratories Stock Performance

Shares of NYSE ABT traded up $0.67 during midday trading on Friday, hitting $107.53. 3,575,566 shares of the company’s stock were exchanged, compared to its average volume of 5,219,304. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.35. Abbott Laboratories has a 12 month low of $89.67 and a 12 month high of $121.64. The company’s 50 day moving average price is $113.64 and its 200 day moving average price is $108.03. The firm has a market capitalization of $186.58 billion, a PE ratio of 33.50, a price-to-earnings-growth ratio of 2.57 and a beta of 0.74.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.02. The business had revenue of $9.96 billion during the quarter, compared to the consensus estimate of $9.88 billion. Abbott Laboratories had a return on equity of 20.32% and a net margin of 13.96%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.03 EPS. As a group, analysts predict that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 2.05%. Abbott Laboratories’s payout ratio is 68.54%.

Insider Transactions at Abbott Laboratories

In other news, EVP Daniel Gesua Sive Salvadori sold 963 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 125,697 shares of the company’s stock, valued at approximately $14,895,094.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, VP John A. Jr. Mccoy sold 472 shares of the 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 completion of the sale, the vice president now directly owns 18,760 shares of the company’s stock, valued at $2,223,060. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Daniel Gesua Sive Salvadori sold 963 shares of the 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 $114,115.50. Following the sale, the executive vice president now directly owns 125,697 shares of the company’s stock, valued at $14,895,094.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,435 shares of company stock valued at $6,451,298. Corporate insiders own 1.10% of the company’s stock.

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.