Mission Wealth Management LP Decreases Stake in Abbott Laboratories (NYSE:ABT)

Mission Wealth Management LP reduced its stake in Abbott Laboratories (NYSE:ABT) by 0.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,855 shares of the healthcare product maker’s stock after selling 98 shares during the period. Mission Wealth Management LP’s holdings in Abbott Laboratories were worth $1,525,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Rise Advisors LLC purchased a new position in shares of Abbott Laboratories during the fourth quarter valued at approximately $37,000. Stuart Chaussee & Associates Inc. boosted its holdings in Abbott Laboratories by 236.0% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 336 shares of the healthcare product maker’s stock worth $37,000 after acquiring an additional 236 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in Abbott Laboratories in the third quarter worth $40,000. Cornerstone Planning Group LLC boosted its holdings in Abbott Laboratories by 79.4% in the third quarter. Cornerstone Planning Group LLC now owns 454 shares of the healthcare product maker’s stock worth $44,000 after acquiring an additional 201 shares in the last quarter. Finally, Legacy Financial Group LLC bought a new stake in Abbott Laboratories in the third quarter worth $46,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ABT has been the topic of several analyst reports. Evercore ISI boosted their target price on Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Barclays lowered their price target on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a report on Monday, April 22nd. Raymond James reaffirmed a “buy” rating and set a $124.00 price target on shares of Abbott Laboratories in a report on Wednesday, April 24th. Citigroup upped their price target on Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Finally, Royal Bank of Canada lowered 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. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.50.

Insider Buying and Selling

In related news, VP John A. Jr. Mccoy sold 472 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $55,932.00. Following the completion of the sale, the vice president now owns 18,760 shares in the company, valued at $2,223,060. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Andrea F. Wainer sold 12,500 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the completion of the transaction, the executive vice president now directly owns 78,704 shares of the company’s stock, valued at $9,444,480. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP John A. Jr. Mccoy sold 472 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 $55,932.00. Following 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. Over the last 90 days, insiders sold 13,935 shares of company stock worth $1,670,048. 0.47% of the stock is owned by corporate insiders.

Abbott Laboratories Stock Down 1.2 %

Abbott Laboratories stock opened at $105.94 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.16 and a current ratio of 1.64. The stock has a fifty day moving average of $113.29 and a 200 day moving average of $108.44. The stock has a market cap of $183.82 billion, a PE ratio of 33.00, a price-to-earnings-growth ratio of 2.58 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:ABT) last issued its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. The business had revenue of $9.96 billion during the quarter, compared to analysts’ expectations of $9.88 billion. Abbott Laboratories had a return on equity of 20.32% and a net margin of 13.96%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.03 earnings per share. As a group, sell-side analysts predict 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. 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 dividend yield of 2.08%. The ex-dividend date of this dividend is Friday, April 12th. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

Abbott Laboratories Company 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.