Abbott Laboratories (NYSE:ABT) Shares Sold by Highland Capital Management LLC

Highland Capital Management LLC cut its position in shares of Abbott Laboratories (NYSE:ABT) by 0.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 49,640 shares of the healthcare product maker’s stock after selling 220 shares during the quarter. Highland Capital Management LLC’s holdings in Abbott Laboratories were worth $5,615,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Gries Financial LLC increased its position in shares of Abbott Laboratories by 6.7% during the 4th quarter. Gries Financial LLC now owns 15,513 shares of the healthcare product maker’s stock valued at $1,755,000 after purchasing an additional 971 shares during the period. Hanson & Doremus Investment Management raised its position in shares of Abbott Laboratories by 15.3% during the fourth quarter. Hanson & Doremus Investment Management now owns 12,876 shares of the healthcare product maker’s stock worth $1,456,000 after purchasing an additional 1,711 shares during the period. Foster & Motley Inc. raised its position in shares of Abbott Laboratories by 17.7% during the fourth quarter. Foster & Motley Inc. now owns 5,309 shares of the healthcare product maker’s stock worth $600,000 after purchasing an additional 800 shares during the period. Invesco LLC raised its position in shares of Abbott Laboratories by 13.4% during the fourth quarter. Invesco LLC now owns 10,500 shares of the healthcare product maker’s stock worth $1,188,000 after purchasing an additional 1,244 shares during the period. Finally, Allen Capital Group LLC raised its position in shares of Abbott Laboratories by 7.1% during the fourth quarter. Allen Capital Group LLC now owns 5,033 shares of the healthcare product maker’s stock worth $569,000 after purchasing an additional 332 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Price Performance

NYSE ABT opened at $127.86 on Thursday. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $129.85. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The stock has a market capitalization of $221.77 billion, a PE ratio of 16.71, a P/E/G ratio of 2.51 and a beta of 0.73. The stock has a 50-day simple moving average of $115.71 and a 200 day simple moving average of $113.80.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, hitting the consensus estimate of $1.34. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The business had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $11.03 billion. During the same quarter in the previous year, the firm earned $1.19 EPS. The firm’s revenue was up 7.2% compared to the same quarter last year. Research analysts anticipate that Abbott Laboratories will post 5.15 EPS for the current year.

Abbott Laboratories Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $135.00 target price on shares of Abbott Laboratories in a research report on Tuesday, January 21st. Stifel Nicolaus boosted their target price on Abbott Laboratories from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Mizuho lifted their price target on Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. 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 report on Thursday, January 23rd. Finally, Raymond James reiterated a “buy” rating and set a $129.00 price target (up previously from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus price target of $133.06.

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.