Abbott Laboratories (NYSE:ABT) Stock Position Decreased by Geller Advisors LLC

Geller Advisors LLC lowered its holdings in Abbott Laboratories (NYSE:ABT) by 1.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,384 shares of the healthcare product maker’s stock after selling 168 shares during the period. Geller Advisors LLC’s holdings in Abbott Laboratories were worth $1,061,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Redwood Park Advisors LLC acquired a new position in Abbott Laboratories during the 4th quarter valued at approximately $25,000. Noble Wealth Management PBC bought a new stake in Abbott Laboratories in the fourth quarter valued at $26,000. NewSquare Capital LLC boosted its holdings in shares of Abbott Laboratories by 78.4% during the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock valued at $27,000 after acquiring an additional 105 shares during the period. WealthTrak Capital Management LLC bought a new position in shares of Abbott Laboratories during the fourth quarter worth about $28,000. Finally, Rialto Wealth Management LLC acquired a new stake in shares of Abbott Laboratories in the 4th quarter worth about $29,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Price Performance

NYSE ABT opened at $133.50 on Friday. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23. The business’s fifty day moving average is $129.80 and its two-hundred day moving average is $123.46. The stock has a market capitalization of $232.27 billion, a P/E ratio of 17.45, a P/E/G ratio of 2.52 and a beta of 0.74. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The company had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.38 billion. On average, research analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.77%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 30.61%.

Wall Street Analysts Forecast Growth

ABT has been the subject of several recent analyst reports. Morgan Stanley upped their target price on shares of Abbott Laboratories from $117.00 to $127.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 17th. UBS Group raised their target price on Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Argus upgraded Abbott Laboratories to a “strong-buy” rating in a research report on Tuesday, January 28th. The Goldman Sachs Group raised their price target on Abbott Laboratories from $138.00 to $154.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Finally, Bank of America upped their price objective on shares of Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Abbott Laboratories has an average rating of “Moderate Buy” and an average price target of $142.59.

Insider Activity

In related news, EVP Lisa D. Earnhardt sold 91,167 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $133.82, for a total transaction of $12,199,967.94. Following the transaction, the executive vice president now directly owns 71,928 shares of the company’s stock, valued at approximately $9,625,404.96. The trade was a 55.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sally E. Blount sold 2,600 shares of the stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $129.66, for a total value of $337,116.00. Following the completion of the sale, the director now directly owns 34,058 shares of the company’s stock, valued at approximately $4,415,960.28. This represents a 7.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 95,278 shares of company stock worth $12,745,859 over the last 90 days. 0.46% of the stock is owned by company insiders.

Abbott Laboratories 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.