Cypress Capital Management LLC WY Sells 175 Shares of Abbott Laboratories (NYSE:ABT)

Cypress Capital Management LLC WY decreased its position in shares of Abbott Laboratories (NYSE:ABT) by 6.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,764 shares of the healthcare product maker’s stock after selling 175 shares during the quarter. Cypress Capital Management LLC WY’s holdings in Abbott Laboratories were worth $304,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Stuart Chaussee & Associates Inc. increased its holdings in shares of Abbott Laboratories by 236.0% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 336 shares of the healthcare product maker’s stock valued at $37,000 after acquiring an additional 236 shares in the last quarter. Rise Advisors LLC bought a new stake in Abbott Laboratories during the fourth quarter worth $37,000. Stonehage Fleming Financial Services Holdings Ltd bought a new position in Abbott Laboratories in the 3rd quarter valued at $40,000. Cornerstone Planning Group LLC grew its stake in Abbott Laboratories by 79.4% in the 3rd quarter. Cornerstone Planning Group LLC now owns 454 shares of the healthcare product maker’s stock valued at $44,000 after purchasing an additional 201 shares during the period. Finally, Bfsg LLC bought a new position in Abbott Laboratories in the 4th quarter valued at $51,000. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

ABT traded down $0.42 during trading on Monday, reaching $107.11. 2,210,805 shares of the company were exchanged, compared to its average volume of 5,616,255. The company has a market cap of $185.86 billion, a price-to-earnings ratio of 33.66, a P/E/G ratio of 2.59 and a beta of 0.74. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.35. The company’s 50-day moving average is $113.64 and its two-hundred day moving average is $108.22. Abbott Laboratories has a 12-month low of $89.67 and a 12-month high of $121.64.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. The business had revenue of $9.96 billion for the quarter, compared to analyst estimates of $9.88 billion. Abbott Laboratories had a return on equity of 20.32% and a net margin of 13.96%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.03 EPS. Research analysts forecast that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be given a dividend of $0.55 per share. The ex-dividend date is Friday, April 12th. This represents a $2.20 annualized dividend and a dividend yield of 2.05%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Insider Activity

In other news, EVP Daniel Gesua Sive Salvadori sold 963 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $114,115.50. Following the transaction, the executive vice president now directly owns 125,697 shares in the company, valued at approximately $14,895,094.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Daniel Gesua Sive Salvadori sold 963 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $114,115.50. Following the transaction, the executive vice president now directly owns 125,697 shares in the company, valued at approximately $14,895,094.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Andrea F. Wainer sold 12,500 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $120.00, for a total value of $1,500,000.00. Following the transaction, the executive vice president now owns 78,704 shares in the company, valued at $9,444,480. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,935 shares of company stock worth $1,670,048. 0.47% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ABT has been the subject of a number of recent analyst reports. Citigroup upped their price objective on Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Barclays dropped their price target on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a research report on Monday, April 22nd. Evercore ISI upped their price target on Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Raymond James reaffirmed a “buy” rating and set a $124.00 price target on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Finally, Royal Bank of Canada dropped their price target on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating on the stock in a research report on Thursday, April 18th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $121.50.

About Abbott Laboratories

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.