Patriot Financial Group Insurance Agency LLC Lowers Position in Abbott Laboratories (NYSE:ABT)

Patriot Financial Group Insurance Agency LLC lowered its stake in Abbott Laboratories (NYSE:ABT) by 16.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,364 shares of the healthcare product maker’s stock after selling 449 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Abbott Laboratories were worth $267,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in ABT. Groupama Asset Managment lifted its holdings in Abbott Laboratories by 22.2% during the third quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock valued at $26,000 after purchasing an additional 41,557 shares in the last quarter. Future Financial Wealth Managment LLC bought a new position in Abbott Laboratories in the 3rd quarter worth $31,000. Peterson Financial Group Inc. bought a new stake in Abbott Laboratories during the third quarter valued at about $32,000. Valued Wealth Advisors LLC lifted its position in shares of Abbott Laboratories by 78.4% in the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after acquiring an additional 127 shares in the last quarter. Finally, Highline Wealth Partners LLC purchased a new stake in shares of Abbott Laboratories during the third quarter worth about $37,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Price Performance

Abbott Laboratories stock opened at $127.86 on Thursday. The firm has a market capitalization of $221.77 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 2.51 and a beta of 0.73. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $129.85. The firm has a 50-day moving average price of $115.71 and a 200-day moving average price of $113.80. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, meeting analysts’ consensus estimates of $1.34. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The firm had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $11.03 billion. During the same quarter in the prior year, the firm posted $1.19 earnings per share. The company’s quarterly revenue was up 7.2% on a year-over-year basis. As a group, equities research analysts forecast that Abbott Laboratories will post 5.15 EPS for the current year.

Abbott Laboratories Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.85%. Abbott Laboratories’s dividend payout ratio is presently 30.85%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ABT shares. Evercore ISI boosted their price target on Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. Stifel Nicolaus upped their target price on shares of Abbott Laboratories from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Jefferies Financial Group lifted their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, October 17th. Mizuho raised their price objective on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, Oppenheimer started coverage on Abbott Laboratories in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $133.06.

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.