REDW Wealth LLC Sells 488 Shares of Abbott Laboratories (NYSE:ABT)

REDW Wealth LLC cut its holdings in shares of Abbott Laboratories (NYSE:ABT) by 19.1% in the 4th quarter, Holdings Channel reports. The firm owned 2,066 shares of the healthcare product maker’s stock after selling 488 shares during the period. REDW Wealth LLC’s holdings in Abbott Laboratories were worth $234,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Abbott Laboratories by 3.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 732,945 shares of the healthcare product maker’s stock valued at $82,903,000 after buying an additional 22,705 shares in the last quarter. Sound View Wealth Advisors Group LLC grew its holdings in shares of Abbott Laboratories by 3.8% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 28,289 shares of the healthcare product maker’s stock valued at $3,200,000 after purchasing an additional 1,046 shares during the last quarter. Sowell Financial Services LLC increased its position in Abbott Laboratories by 21.0% during the 4th quarter. Sowell Financial Services LLC now owns 32,083 shares of the healthcare product maker’s stock worth $3,629,000 after purchasing an additional 5,576 shares in the last quarter. Miramar Capital LLC lifted its stake in Abbott Laboratories by 0.4% in the 4th quarter. Miramar Capital LLC now owns 79,033 shares of the healthcare product maker’s stock valued at $8,939,000 after purchasing an additional 280 shares during the last quarter. Finally, OFI Invest Asset Management acquired a new stake in Abbott Laboratories in the fourth quarter valued at approximately $1,332,000. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $137.23 on Monday. The company has a market cap of $238.00 billion, a price-to-earnings ratio of 17.94, a price-to-earnings-growth ratio of 2.52 and a beta of 0.70. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $141.23. The firm has a 50 day moving average of $125.35 and a 200-day moving average of $118.82. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT) last issued 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. The business had revenue of $10.97 billion during the quarter, compared to analyst estimates of $11.03 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.19 EPS. On average, equities analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.72%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories’s payout ratio is currently 30.85%.

Insiders Place Their Bets

In related news, EVP Andrea F. Wainer sold 949 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $138.17, for a total transaction of $131,123.33. Following the transaction, the executive vice president now directly owns 74,381 shares in the company, valued at approximately $10,277,222.77. The trade was a 1.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Eric Shroff sold 562 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $138.17, for a total transaction of $77,651.54. Following the completion of the sale, the senior vice president now owns 31,970 shares of the company’s stock, valued at approximately $4,417,294.90. This trade represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 116,449 shares of company stock worth $15,463,316. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Evercore ISI increased their price target on Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. Wells Fargo & Company lifted their price target on Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. StockNews.com downgraded Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Argus upgraded shares of Abbott Laboratories to a “strong-buy” rating in a research report on Tuesday, January 28th. Finally, UBS Group upped their price target on shares of Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus target price of $137.19.

About Abbott Laboratories

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.