Pittenger & Anderson Inc. Cuts Stock Position in Abbott Laboratories (NYSE:ABT)

Pittenger & Anderson Inc. reduced its position in Abbott Laboratories (NYSE:ABT) by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,600 shares of the healthcare product maker’s stock after selling 450 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Abbott Laboratories were worth $7,551,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Zevenbergen Capital Investments LLC lifted its holdings in Abbott Laboratories by 0.6% during the 3rd quarter. Zevenbergen Capital Investments LLC now owns 21,419 shares of the healthcare product maker’s stock worth $2,074,000 after buying an additional 130 shares in the last quarter. Perigon Wealth Management LLC increased its position in shares of Abbott Laboratories by 5.2% during the fourth quarter. Perigon Wealth Management LLC now owns 47,080 shares of the healthcare product maker’s stock worth $5,182,000 after acquiring an additional 2,317 shares during the period. Rockland Trust Co. raised its stake in shares of Abbott Laboratories by 1.5% in the third quarter. Rockland Trust Co. now owns 91,868 shares of the healthcare product maker’s stock valued at $8,897,000 after acquiring an additional 1,343 shares in the last quarter. VisionPoint Advisory Group LLC grew its stake in Abbott Laboratories by 7.4% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 3,106 shares of the healthcare product maker’s stock worth $301,000 after purchasing an additional 215 shares in the last quarter. Finally, Gradient Investments LLC increased its holdings in Abbott Laboratories by 4.7% during the 4th quarter. Gradient Investments LLC now owns 257,508 shares of the healthcare product maker’s stock worth $28,344,000 after purchasing an additional 11,508 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock traded up $0.75 on Friday, hitting $107.61. The stock had a trading volume of 1,524,093 shares, compared to its average volume of 5,634,632. The company’s 50 day moving average price is $113.77 and its 200 day moving average price is $107.96. The stock has a market cap of $186.72 billion, a price-to-earnings ratio of 33.22, a P/E/G ratio of 2.57 and a beta of 0.74. The company has a current ratio of 1.64, a quick ratio of 1.16 and a debt-to-equity ratio of 0.35. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. The business had revenue of $9.96 billion for the quarter, compared to analysts’ expectations of $9.88 billion. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.32%. The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.03 EPS. On average, research analysts anticipate that Abbott Laboratories will post 4.62 EPS for the current year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a $0.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $2.20 dividend on an annualized basis and a yield of 2.04%. Abbott Laboratories’s dividend payout ratio (DPR) is 68.54%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ABT shares. Evercore ISI lifted their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Raymond James reiterated a “buy” rating and set a $124.00 price target on shares of Abbott Laboratories in a report on Wednesday. Barclays decreased their price objective on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a research report on Monday. Royal Bank of Canada dropped their target price on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating on the stock in a report on Thursday, April 18th. Finally, Citigroup lifted their price target on Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus target price of $121.50.

Insider Transactions at Abbott Laboratories

In related news, VP John A. Jr. Mccoy sold 472 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $118.50, for a total transaction of $55,932.00. Following the completion of the transaction, the vice president now directly owns 18,760 shares of the company’s stock, valued at $2,223,060. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Andrea F. Wainer sold 42,500 shares of the business’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $112.50, for a total transaction of $4,781,250.00. Following the sale, the executive vice president now owns 65,027 shares of the company’s stock, valued at $7,315,537.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP John A. Jr. Mccoy sold 472 shares of Abbott Laboratories stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $118.50, for a total transaction of $55,932.00. Following the sale, the vice president now owns 18,760 shares of the company’s stock, valued at $2,223,060. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,435 shares of company stock worth $6,451,298. Company 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.