OneDigital Investment Advisors LLC cut its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 8.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,527 shares of the healthcare product maker's stock after selling 2,842 shares during the quarter. OneDigital Investment Advisors LLC's holdings in Abbott Laboratories were worth $3,566,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of ABT. Select Asset Management & Trust purchased a new stake in shares of Abbott Laboratories during the 4th quarter valued at approximately $588,000. Van Lanschot Kempen Investment Management N.V. raised its position in Abbott Laboratories by 39.8% in the fourth quarter. Van Lanschot Kempen Investment Management N.V. now owns 66,059 shares of the healthcare product maker's stock valued at $7,472,000 after purchasing an additional 18,802 shares during the period. Wealth Dimensions Group Ltd. lifted its stake in shares of Abbott Laboratories by 12.3% in the 4th quarter. Wealth Dimensions Group Ltd. now owns 4,255 shares of the healthcare product maker's stock valued at $481,000 after purchasing an additional 466 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Abbott Laboratories by 165.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 89,342 shares of the healthcare product maker's stock worth $10,105,000 after purchasing an additional 55,643 shares during the period. Finally, Transatlantique Private Wealth LLC raised its holdings in Abbott Laboratories by 16.1% in the 4th quarter. Transatlantique Private Wealth LLC now owns 10,795 shares of the healthcare product maker's stock valued at $1,221,000 after buying an additional 1,498 shares during the period. 75.18% of the stock is owned by hedge funds and other institutional investors.
Abbott Laboratories Stock Performance
NYSE ABT traded down $0.49 during trading hours on Friday, hitting $128.90. The company had a trading volume of 4,849,055 shares, compared to its average volume of 6,063,207. The business has a 50 day moving average of $130.54 and a 200-day moving average of $122.41. The company has a market cap of $223.55 billion, a PE ratio of 16.85, a price-to-earnings-growth ratio of 2.52 and a beta of 0.80. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $141.23. 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 - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.02. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The company had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.38 billion. As a group, equities research analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.
Abbott Laboratories Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.83%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories's payout ratio is 30.61%.
Insider Buying and Selling
In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of Abbott Laboratories stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the completion of the transaction, the executive vice president now directly owns 125,697 shares of the company's stock, valued at approximately $16,152,064.50. The trade was a 15.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Lisa D. Earnhardt sold 91,167 shares of the company's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $133.82, for a total value of $12,199,967.94. Following the completion of the sale, the executive vice president now directly owns 71,928 shares in the company, valued at $9,625,404.96. This trade represents a 55.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 116,449 shares of company stock valued at $15,463,316 over the last ninety days. Corporate insiders own 0.46% of the company's stock.
Analysts Set New Price Targets
A number of brokerages have weighed in on ABT. Morgan Stanley lifted 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. Wells Fargo & Company lifted their price objective on Abbott Laboratories from $136.00 to $147.00 and gave the company an "overweight" rating in a research note on Thursday, April 17th. Piper Sandler reiterated an "overweight" rating and set a $145.00 price target (up from $133.00) on shares of Abbott Laboratories in a research note on Thursday, April 17th. The Goldman Sachs Group upped their target price on shares of Abbott Laboratories from $138.00 to $154.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. Finally, Evercore ISI raised their price target on shares of Abbott Laboratories to $136.00 and gave the company a "buy" rating in a research report on Thursday, January 2nd. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Abbott Laboratories has an average rating of "Moderate Buy" and a consensus target price of $142.59.
Check Out Our Latest Analysis on Abbott Laboratories
Abbott Laboratories Company Profile
(
Free Report)
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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