Abbott Laboratories (NYSE:ABT) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. trimmed its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 11.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,360,985 shares of the healthcare product maker's stock after selling 290,965 shares during the period. Prudential Financial Inc. owned 0.14% of Abbott Laboratories worth $267,051,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Hirtle Callaghan & Co LLC acquired a new stake in Abbott Laboratories during the 4th quarter worth approximately $289,000. Dillon & Associates Inc. grew its position in Abbott Laboratories by 1.3% in the 4th quarter. Dillon & Associates Inc. now owns 213,021 shares of the healthcare product maker's stock valued at $24,071,000 after buying an additional 2,674 shares during the last quarter. Clune & Associates LTD. acquired a new position in Abbott Laboratories in the 4th quarter valued at $1,645,000. Crowley Wealth Management Inc. purchased a new position in Abbott Laboratories during the 4th quarter worth $2,165,000. Finally, Vanguard Group Inc. lifted its stake in shares of Abbott Laboratories by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 168,645,397 shares of the healthcare product maker's stock worth $19,075,481,000 after acquiring an additional 739,260 shares during the period. Institutional investors and hedge funds own 75.18% of the company's stock.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the firm's stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $128.50, for a total value of $3,054,573.50. Following the sale, the executive vice president now directly owns 125,697 shares of the company's stock, valued at approximately $16,152,064.50. This trade represents a 15.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Andrea F. Wainer sold 949 shares of the company's 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 transaction, the executive vice president now directly owns 74,381 shares of the company's stock, valued at approximately $10,277,222.77. This represents a 1.26 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 116,449 shares of company stock valued at $15,463,316. Company insiders own 1.10% of the company's stock.

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Analyst Upgrades and Downgrades

ABT has been the subject of several analyst reports. The Goldman Sachs Group increased their price target on shares of Abbott Laboratories from $138.00 to $154.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Stifel Nicolaus raised their price target on Abbott Laboratories from $130.00 to $135.00 and gave the company a "buy" rating in a report on Thursday, January 23rd. Barclays reaffirmed an "overweight" rating and set a $158.00 price objective (up previously from $149.00) on shares of Abbott Laboratories in a report on Monday, January 27th. Evercore ISI raised their target price on Abbott Laboratories to $136.00 and gave the company a "buy" rating in a report on Thursday, January 2nd. Finally, UBS Group upped their price target on shares of Abbott Laboratories from $146.00 to $148.00 and gave the stock a "buy" rating in a research note on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $137.94.

Abbott Laboratories Price Performance

Shares of ABT traded down $1.75 during mid-day trading on Tuesday, reaching $125.46. 6,726,845 shares of the company's stock were exchanged, compared to its average volume of 5,475,835. The company has a 50-day simple moving average of $129.04 and a two-hundred day simple moving average of $120.12. The company has a market cap of $217.59 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 2.52 and a beta of 0.70. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.34. The business had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $11.03 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The business's revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.19 earnings per share. On average, sell-side analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories's dividend payout ratio is presently 30.85%.

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.