Abbott Laboratories (NYSE:ABT) Shares Sold by Forefront Analytics LLC

Forefront Analytics LLC cut its holdings in Abbott Laboratories (NYSE:ABT) by 30.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,683 shares of the healthcare product maker’s stock after selling 1,200 shares during the quarter. Forefront Analytics LLC’s holdings in Abbott Laboratories were worth $304,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ABT. Redwood Park Advisors LLC acquired a new stake in shares of Abbott Laboratories during the fourth quarter valued at $25,000. Noble Wealth Management PBC purchased a new stake in shares of Abbott Laboratories during the fourth quarter worth about $26,000. NewSquare Capital LLC grew its holdings in shares of Abbott Laboratories by 78.4% during the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock worth $27,000 after buying an additional 105 shares in the last quarter. WealthTrak Capital Management LLC purchased a new position in shares of Abbott Laboratories during the fourth quarter valued at approximately $28,000. Finally, Rialto Wealth Management LLC acquired a new stake in Abbott Laboratories during the fourth quarter worth approximately $29,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT opened at $133.50 on Friday. The company has a market cap of $232.27 billion, a P/E ratio of 17.45, a PEG ratio of 2.52 and a beta of 0.74. Abbott Laboratories has a one year low of $99.71 and a one year high of $141.23. The business’s 50-day simple moving average is $129.80 and its 200 day simple moving average is $123.46. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The business had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.38 billion. On average, sell-side analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend is Tuesday, April 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 30.61%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ABT shares. Bank of America increased their price target on Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Piper Sandler reissued an “overweight” rating and issued a $145.00 price target (up from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. Argus raised shares of Abbott Laboratories to a “strong-buy” rating in a research note on Tuesday, January 28th. Morgan Stanley raised their target price on shares of Abbott Laboratories from $117.00 to $127.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 17th. Finally, Royal Bank of Canada upped their price target on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a research report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and an average target price of $142.59.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, SVP Eric Shroff sold 562 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $138.17, for a total transaction of $77,651.54. Following the completion of the transaction, the senior vice president now directly owns 31,970 shares of the company’s stock, valued at $4,417,294.90. This trade represents a 1.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Andrea F. Wainer sold 949 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $138.17, for a total transaction of $131,123.33. Following the transaction, the executive vice president now directly owns 74,381 shares in the company, valued at $10,277,222.77. The trade was a 1.26 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 95,278 shares of company stock valued at $12,745,859. Insiders own 0.46% of the company’s stock.

Abbott Laboratories Company 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.