Farmers & Merchants Investments Inc. Cuts Holdings in Abbott Laboratories (NYSE:ABT)

Farmers & Merchants Investments Inc. lowered its holdings in Abbott Laboratories (NYSE:ABTFree Report) by 0.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 184,024 shares of the healthcare product maker’s stock after selling 1,175 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in Abbott Laboratories were worth $20,256,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of ABT. Fairfield Bush & CO. purchased a new stake in Abbott Laboratories during the 1st quarter worth about $131,000. United Bank lifted its holdings in shares of Abbott Laboratories by 7.2% in the first quarter. United Bank now owns 27,280 shares of the healthcare product maker’s stock worth $3,229,000 after buying an additional 1,826 shares in the last quarter. Mackenzie Financial Corp boosted its position in shares of Abbott Laboratories by 1.9% in the first quarter. Mackenzie Financial Corp now owns 813,253 shares of the healthcare product maker’s stock valued at $96,257,000 after acquiring an additional 15,521 shares during the period. Kinneret Advisory LLC grew its stake in Abbott Laboratories by 2.3% during the first quarter. Kinneret Advisory LLC now owns 19,467 shares of the healthcare product maker’s stock valued at $2,304,000 after acquiring an additional 436 shares in the last quarter. Finally, Lumature Wealth Partners LLC increased its holdings in Abbott Laboratories by 636.2% during the 1st quarter. Lumature Wealth Partners LLC now owns 2,216 shares of the healthcare product maker’s stock worth $262,000 after acquiring an additional 1,915 shares during the period. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Down 0.6 %

Shares of NYSE:ABT opened at $111.31 on Thursday. The company has a market cap of $193.14 billion, a PE ratio of 34.14, a P/E/G ratio of 2.70 and a beta of 0.74. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $121.64. The stock’s 50-day moving average is $115.03 and its 200 day moving average is $106.77. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.64 and a quick ratio of 1.16.

Abbott Laboratories (NYSE:ABTGet Free Report) last released its quarterly earnings results on Wednesday, January 24th. The healthcare product maker reported $1.19 earnings per share for the quarter, meeting the consensus estimate of $1.19. Abbott Laboratories had a net margin of 14.27% and a return on equity of 20.65%. The business had revenue of $10.24 billion for the quarter, compared to analysts’ expectations of $10.19 billion. During the same quarter in the previous year, the business posted $1.03 earnings per share. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. Sell-side analysts anticipate that Abbott Laboratories will post 4.62 EPS for the current year.

Abbott Laboratories Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, April 12th. This represents a $2.20 dividend on an annualized basis and a yield of 1.98%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 67.48%.

Insiders Place Their Bets

In other Abbott Laboratories news, VP John A. Jr. Mccoy sold 472 shares of Abbott Laboratories stock in a transaction on 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 transaction, the vice president now 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 can be accessed through this link. In other Abbott Laboratories news, VP John A. Jr. Mccoy sold 472 shares of the business’s stock in a transaction on Friday, March 1st. The shares were 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 directly owns 18,760 shares in the company, valued at approximately $2,223,060. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Andrea F. Wainer sold 12,500 shares of the firm’s 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 in the company, valued at approximately $9,444,480. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,435 shares of company stock worth $6,451,298. 0.47% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. TheStreet raised shares of Abbott Laboratories from a “c+” rating to a “b-” rating in a report on Thursday, December 21st. Raymond James boosted their target price on Abbott Laboratories from $124.00 to $127.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $128.00 price target on shares of Abbott Laboratories in a report on Wednesday, February 14th. Wells Fargo & Company boosted their price objective on Abbott Laboratories from $116.00 to $121.00 and gave the stock an “overweight” rating in a report on Wednesday, December 13th. Finally, Citigroup raised their target price on shares of Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $121.92.

Get 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.

Further Reading

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

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