Ferguson Wellman Capital Management Inc. Sells 6,340 Shares of Abbott Laboratories (NYSE:ABT)

Ferguson Wellman Capital Management Inc. lowered its position in Abbott Laboratories (NYSE:ABT) by 2.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 228,429 shares of the healthcare product maker’s stock after selling 6,340 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Abbott Laboratories were worth $25,838,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Liberty Capital Management Inc. boosted its position in Abbott Laboratories by 0.6% during the fourth quarter. Liberty Capital Management Inc. now owns 43,939 shares of the healthcare product maker’s stock valued at $4,970,000 after acquiring an additional 276 shares during the last quarter. Stiles Financial Services Inc boosted its position in shares of Abbott Laboratories by 2.5% during the 4th quarter. Stiles Financial Services Inc now owns 25,863 shares of the healthcare product maker’s stock valued at $2,925,000 after purchasing an additional 623 shares in the last quarter. Legacy Financial Strategies LLC grew its stake in Abbott Laboratories by 0.7% during the fourth quarter. Legacy Financial Strategies LLC now owns 25,400 shares of the healthcare product maker’s stock worth $2,881,000 after purchasing an additional 180 shares during the period. Washburn Capital Management Inc. bought a new stake in Abbott Laboratories in the fourth quarter worth approximately $279,000. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of Abbott Laboratories during the 4th quarter worth approximately $37,000. 75.18% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Raymond James reiterated a “buy” rating and issued a $129.00 price objective (up previously from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Jefferies Financial Group increased their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. Wells Fargo & Company boosted their target price on Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Argus raised Abbott Laboratories to a “strong-buy” rating in a research note on Tuesday, January 28th. Finally, Piper Sandler upped their target price on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $133.06.

Abbott Laboratories Stock Performance

NYSE ABT opened at $129.11 on Monday. The company’s 50 day simple moving average is $117.46 and its two-hundred day simple moving average is $115.18. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $132.50. The stock has a market capitalization of $223.93 billion, a PE ratio of 16.88, a P/E/G ratio of 2.39 and a beta of 0.75.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.34. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The company had revenue of $10.97 billion during the quarter, compared to analyst estimates of $11.03 billion. During the same quarter last year, the company earned $1.19 earnings per share. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. Analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a yield of 1.83%. Abbott Laboratories’s payout ratio is presently 30.85%.

Insider Transactions at Abbott Laboratories

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the transaction, the executive vice president now directly owns 125,697 shares of the company’s stock, valued at approximately $16,152,064.50. This trade represents a 15.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.10% of the company’s stock.

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.