Abbott Laboratories (NYSE:ABT) Shares Sold by Evercore Wealth Management LLC

Evercore Wealth Management LLC lessened its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 1.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 777,664 shares of the healthcare product maker's stock after selling 7,565 shares during the period. Abbott Laboratories comprises approximately 1.3% of Evercore Wealth Management LLC's portfolio, making the stock its 27th largest position. Evercore Wealth Management LLC's holdings in Abbott Laboratories were worth $87,962,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Redwood Park Advisors LLC purchased a new stake in shares of Abbott Laboratories in the 4th quarter valued at $25,000. Noble Wealth Management PBC purchased a new stake in Abbott Laboratories during the fourth quarter worth about $26,000. NewSquare Capital LLC lifted its position 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 purchasing an additional 105 shares in the last quarter. WealthTrak Capital Management LLC purchased a new position in shares of Abbott Laboratories in the fourth quarter valued at approximately $28,000. Finally, Rialto Wealth Management LLC acquired a new position in shares of Abbott Laboratories in the fourth quarter valued at approximately $29,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $131.81 on Wednesday. The stock's 50-day moving average is $130.61 and its two-hundred day moving average is $122.15. 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 has a 1 year low of $99.71 and a 1 year high of $141.23. The firm has a market cap of $228.60 billion, a price-to-earnings ratio of 17.23, a PEG ratio of 2.52 and a beta of 0.80.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.07 by $0.02. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The firm had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.38 billion. Analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

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 given a $0.59 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $2.36 annualized dividend and a yield of 1.79%. Abbott Laboratories's dividend payout ratio (DPR) is 30.61%.

Analyst Ratings Changes

Several equities analysts have commented on ABT shares. Morgan Stanley raised their price target on shares of Abbott Laboratories from $117.00 to $127.00 and gave the company an "equal weight" rating in a research report on Thursday, April 17th. Piper Sandler reissued an "overweight" rating and set a $145.00 target price (up from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. UBS Group increased their price target on Abbott Laboratories from $146.00 to $148.00 and gave the company a "buy" rating in a research report on Thursday, January 23rd. Bank of America boosted their price objective on Abbott Laboratories from $133.00 to $150.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. Finally, Jefferies Financial Group raised their target price on shares of Abbott Laboratories from $135.00 to $137.00 and gave the company a "hold" rating in a report on Thursday, April 17th. Four analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $142.59.

Insider Buying and Selling

In other news, EVP Andrea F. Wainer sold 949 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $138.17, for a total transaction of $131,123.33. Following the completion of the sale, the executive vice president now owns 74,381 shares in the company, valued at approximately $10,277,222.77. This represents a 1.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Eric Shroff sold 562 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $138.17, for a total value of $77,651.54. Following the completion of the transaction, the senior vice president now owns 31,970 shares in the company, valued at $4,417,294.90. This trade represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 116,449 shares of company stock worth $15,463,316 in the last 90 days. Company insiders own 0.46% 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.

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