EverSource Wealth Advisors LLC Has $2.32 Million Stock Position in Abbott Laboratories (NYSE:ABT)

EverSource Wealth Advisors LLC cut its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 20.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,500 shares of the healthcare product maker's stock after selling 5,423 shares during the period. EverSource Wealth Advisors LLC's holdings in Abbott Laboratories were worth $2,319,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in ABT. Groupama Asset Managment lifted its position in Abbott Laboratories by 22.2% during the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker's stock valued at $26,000 after purchasing an additional 41,557 shares during the period. Noble Wealth Management PBC acquired a new stake in shares of Abbott Laboratories in the 4th quarter valued at approximately $26,000. NewSquare Capital LLC raised its position in shares of Abbott Laboratories by 78.4% in the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker's stock valued at $27,000 after acquiring an additional 105 shares during the period. Rialto Wealth Management LLC acquired a new stake in shares of Abbott Laboratories in the 4th quarter valued at approximately $29,000. Finally, Peterson Financial Group Inc. acquired a new stake in shares of Abbott Laboratories in the 3rd quarter valued at approximately $32,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Abbott Laboratories

In related news, EVP Andrea F. Wainer sold 949 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 value of $131,123.33. Following the completion of 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 trade represents a 1.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $77,651.54. Following the sale, the senior vice president now directly owns 31,970 shares of the company's stock, valued at $4,417,294.90. This represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 116,449 shares of company stock valued at $15,463,316. 0.47% of the stock is owned by corporate insiders.

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Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Barclays reiterated an "overweight" rating and issued a $158.00 price target (up from $149.00) on shares of Abbott Laboratories in a research report on Monday, January 27th. UBS Group increased their price target on shares of Abbott Laboratories from $146.00 to $148.00 and gave the company a "buy" rating in a research report on Thursday, January 23rd. The Goldman Sachs Group increased their price target on shares of Abbott Laboratories from $138.00 to $154.00 and gave the company a "buy" rating in a research report on Tuesday, March 4th. StockNews.com cut Abbott Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 12th. Finally, Bank of America increased their target price on Abbott Laboratories from $133.00 to $150.00 and gave the stock a "buy" rating in a research note on Monday. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $137.94.

Abbott Laboratories Stock Down 0.4 %

Shares of ABT traded down $0.57 during mid-day trading on Thursday, hitting $129.71. 8,998,190 shares of the company's stock were exchanged, compared to its average volume of 5,584,649. The company has a market cap of $224.97 billion, a PE ratio of 16.96, a P/E/G ratio of 2.52 and a beta of 0.69. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $141.23. The company has a 50-day simple moving average of $126.90 and a 200 day simple moving average of $119.29. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14.

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

Abbott Laboratories Dividend Announcement

The company also recently announced 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. The ex-dividend date is Tuesday, April 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.82%. 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.