Van Cleef Asset Management Inc Has $598,000 Position in Abbott Laboratories (NYSE:ABT)

Van Cleef Asset Management Inc trimmed its holdings in Abbott Laboratories (NYSE:ABTFree Report) by 8.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 5,290 shares of the healthcare product maker’s stock after selling 500 shares during the quarter. Van Cleef Asset Management Inc’s holdings in Abbott Laboratories were worth $598,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ABT. Fort Sheridan Advisors LLC lifted its position in Abbott Laboratories by 10.7% in the 4th quarter. Fort Sheridan Advisors LLC now owns 15,539 shares of the healthcare product maker’s stock valued at $1,758,000 after acquiring an additional 1,500 shares in the last quarter. CORDA Investment Management LLC. lifted its holdings in shares of Abbott Laboratories by 1.0% in the fourth quarter. CORDA Investment Management LLC. now owns 15,103 shares of the healthcare product maker’s stock valued at $1,708,000 after purchasing an additional 151 shares in the last quarter. QRG Capital Management Inc. boosted its position in shares of Abbott Laboratories by 6.7% during the fourth quarter. QRG Capital Management Inc. now owns 321,008 shares of the healthcare product maker’s stock valued at $36,309,000 after buying an additional 20,088 shares during the last quarter. Heritage Oak Wealth Advisors LLC bought a new stake in Abbott Laboratories during the fourth quarter worth $201,000. Finally, Motiv8 Investments LLC raised its position in Abbott Laboratories by 22.9% in the 4th quarter. Motiv8 Investments LLC now owns 10,477 shares of the healthcare product maker’s stock valued at $1,185,000 after buying an additional 1,953 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Stock Performance

NYSE ABT opened at $135.89 on Friday. The company’s 50 day moving average is $122.60 and its 200-day moving average is $117.56. The firm has a market cap of $235.67 billion, a P/E ratio of 17.76, a price-to-earnings-growth ratio of 2.52 and a beta of 0.75. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $136.99. 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:ABTGet Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, hitting analysts’ consensus estimates of $1.34. The firm 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 business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period last year, the company earned $1.19 earnings per share. Sell-side analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Tuesday, April 15th. Abbott Laboratories’s dividend payout ratio is presently 30.85%.

Insider Activity

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the firm’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $128.50, for a total value of $3,054,573.50. Following the completion of the transaction, the executive vice president now directly owns 125,697 shares of the company’s stock, valued at $16,152,064.50. This trade represents a 15.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ABT shares. Stifel Nicolaus upped their target price on shares of Abbott Laboratories from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Wells Fargo & Company lifted their target price on shares of Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. StockNews.com lowered Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. UBS Group lifted their price target on Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Finally, Argus upgraded Abbott Laboratories to a “strong-buy” rating in a research note on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $133.06.

Read Our Latest Research Report on ABT

Abbott Laboratories Company 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.

See Also

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

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