StrategIQ Financial Group LLC Sells 1,690 Shares of Abbott Laboratories (NYSE:ABT)

StrategIQ Financial Group LLC decreased its holdings in shares of Abbott Laboratories (NYSE:ABTFree Report) by 2.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 57,849 shares of the healthcare product maker’s stock after selling 1,690 shares during the period. StrategIQ Financial Group LLC’s holdings in Abbott Laboratories were worth $6,367,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp increased its position in shares of Abbott Laboratories by 1.9% during the second quarter. State Street Corp now owns 74,817,109 shares of the healthcare product maker’s stock valued at $8,156,561,000 after acquiring an additional 1,362,889 shares in the last quarter. Morgan Stanley boosted its holdings in Abbott Laboratories by 14.3% in the fourth quarter. Morgan Stanley now owns 38,966,499 shares of the healthcare product maker’s stock worth $4,278,132,000 after purchasing an additional 4,886,954 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Abbott Laboratories by 4.3% in 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 last quarter. Moneta Group Investment Advisors LLC boosted its holdings in Abbott Laboratories by 104,649.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 30,247,436 shares of the healthcare product maker’s stock worth $3,320,866,000 after purchasing an additional 30,218,560 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings 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 worth $2,229,122,000 after purchasing an additional 343,559 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Andrea F. Wainer sold 42,500 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $112.50, for a total transaction of $4,781,250.00. Following the transaction, the executive vice president now directly owns 65,027 shares in the company, valued at $7,315,537.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Andrea F. Wainer sold 42,500 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $112.50, for a total transaction of $4,781,250.00. Following the transaction, the executive vice president now directly owns 65,027 shares in the company, valued at $7,315,537.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Andrea F. Wainer sold 12,500 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 78,704 shares in the company, valued at $9,444,480. The disclosure for this sale can be found here. Insiders have sold 56,435 shares of company stock worth $6,451,298 in the last three months. Corporate insiders own 0.47% of the company’s stock.

Abbott Laboratories Trading Up 0.0 %

NYSE:ABT traded up $0.02 during mid-day trading on Wednesday, hitting $112.04. 543,920 shares of the stock traded hands, compared to its average volume of 5,617,399. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $194.41 billion, a price-to-earnings ratio of 34.36, a PEG ratio of 2.70 and a beta of 0.74. The firm’s 50 day moving average is $115.02 and its two-hundred day moving average is $106.74. Abbott Laboratories has a 52 week low of $89.67 and a 52 week high of $121.64.

Abbott Laboratories (NYSE:ABTGet Free Report) last issued its earnings results on Wednesday, January 24th. The healthcare product maker reported $1.19 EPS for the quarter, hitting analysts’ consensus estimates of $1.19. The business had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $10.19 billion. Abbott Laboratories had a net margin of 14.27% and a return on equity of 20.65%. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $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. Shareholders of record on Monday, April 15th will be paid a $0.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $2.20 dividend on an annualized basis and a yield of 1.96%. Abbott Laboratories’s dividend payout ratio is currently 67.48%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ABT. Royal Bank of Canada reissued an “outperform” rating and set a $128.00 price objective on shares of Abbott Laboratories in a research report on Wednesday, February 14th. Citigroup boosted their price target on shares of 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 boosted their price target on shares of Abbott Laboratories from $124.00 to $127.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. TheStreet upgraded shares of Abbott Laboratories from a “c+” rating to a “b-” rating in a research note on Thursday, December 21st. Finally, Wells Fargo & Company boosted their price target on shares of Abbott Laboratories from $116.00 to $121.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 13th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $121.77.

Check Out Our Latest Stock Analysis on Abbott Laboratories

Abbott Laboratories Profile

(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.

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

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