M&R Capital Management Inc. Sells 299 Shares of Abbott Laboratories (NYSE:ABT)

M&R Capital Management Inc. lessened its stake in Abbott Laboratories (NYSE:ABT – Get Rating) by 1.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,264 shares of the healthcare product maker’s stock after selling 299 shares during the period. M&R Capital Management Inc.’s holdings in Abbott Laboratories were worth $2,774,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Insight Inv LLC bought a new stake in shares of Abbott Laboratories in the second quarter valued at about $26,000. JDM Financial Group LLC bought a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $26,000. EdgeRock Capital LLC bought a new position in Abbott Laboratories during the third quarter worth about $29,000. Glassy Mountain Advisors Inc. bought a new position in Abbott Laboratories during the fourth quarter worth about $44,000. Finally, Newbridge Financial Services Group Inc. lifted its stake in Abbott Laboratories by 148.4% during the third quarter. Newbridge Financial Services Group Inc. now owns 477 shares of the healthcare product maker’s stock worth $46,000 after purchasing an additional 285 shares during the period. Institutional investors own 72.93% of the company’s stock.

Analyst Ratings Changes

ABT has been the subject of a number of analyst reports. Morgan Stanley raised their price target on shares of Abbott Laboratories from $117.00 to $133.00 and gave the stock an “overweight” rating in a research note on Friday, January 6th. Citigroup raised their price target on shares of Abbott Laboratories from $114.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, December 12th. Raymond James raised their price target on shares of Abbott Laboratories from $109.00 to $123.00 and gave the stock an “outperform” rating in a research note on Thursday, January 26th. Mizuho raised their price target on shares of Abbott Laboratories from $105.00 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 24th. Finally, Stifel Nicolaus lifted their target price on shares of Abbott Laboratories from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, January 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Abbott Laboratories currently has an average rating of “Moderate Buy” and an average price target of $124.67.

Insiders Place Their Bets

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 679 shares of Abbott Laboratories stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $100.70, for a total transaction of $68,375.30. Following the completion of the sale, the executive vice president now owns 70,427 shares of the company’s stock, valued at approximately $7,091,998.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Abbott Laboratories news, EVP Andrea F. Wainer sold 679 shares of Abbott Laboratories stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $100.70, for a total transaction of $68,375.30. Following the completion of the sale, the executive vice president now owns 70,427 shares of the company’s stock, valued at approximately $7,091,998.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Julie L. Tyler sold 260 shares of Abbott Laboratories stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $103.24, for a total transaction of $26,842.40. Following the sale, the senior vice president now directly owns 40,896 shares of the company’s stock, valued at approximately $4,222,103.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,971 shares of company stock valued at $199,140. Company insiders own 0.52% of the company’s stock.

Abbott Laboratories Price Performance

Shares of Abbott Laboratories stock traded down $2.02 during midday trading on Friday, reaching $97.01. The company had a trading volume of 10,848,298 shares, compared to its average volume of 5,170,376. The company has a current ratio of 1.63, a quick ratio of 1.23 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $168.60 billion, a price-to-earnings ratio of 24.81, a price-to-earnings-growth ratio of 4.42 and a beta of 0.68. The stock has a fifty day simple moving average of $106.80 and a 200 day simple moving average of $104.86. Abbott Laboratories has a 1-year low of $93.25 and a 1-year high of $124.36.

Abbott Laboratories (NYSE:ABT – Get Rating) last issued its quarterly earnings results on Wednesday, January 25th. The healthcare product maker reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.13. The business had revenue of $10.09 billion during the quarter, compared to analyst estimates of $9.69 billion. Abbott Laboratories had a net margin of 15.88% and a return on equity of 26.09%. Abbott Laboratories’s revenue for the quarter was down 12.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.32 earnings per share. As a group, equities research analysts forecast that Abbott Laboratories will post 4.38 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 15th. Shareholders of record on Friday, April 14th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Thursday, April 13th. Abbott Laboratories’s dividend payout ratio is presently 52.17%.

Abbott Laboratories Company Profile

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Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following business segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The Established Pharmaceutical Products segment refers to the international sales of a line of branded generic pharmaceutical products.