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

GC Wealth Management RIA LLC lowered its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 23.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,569 shares of the healthcare product maker's stock after selling 2,691 shares during the period. GC Wealth Management RIA LLC's holdings in Abbott Laboratories were worth $969,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Cape Investment Advisory Inc. boosted its stake in shares of Abbott Laboratories by 6.6% during the fourth quarter. Cape Investment Advisory Inc. now owns 1,236 shares of the healthcare product maker's stock valued at $140,000 after purchasing an additional 76 shares in the last quarter. LMG Wealth Partners LLC boosted its position in Abbott Laboratories by 3.8% during the 4th quarter. LMG Wealth Partners LLC now owns 2,161 shares of the healthcare product maker's stock valued at $244,000 after acquiring an additional 80 shares in the last quarter. Jacobson & Schmitt Advisors LLC increased its holdings in shares of Abbott Laboratories by 2.9% in the 4th quarter. Jacobson & Schmitt Advisors LLC now owns 2,827 shares of the healthcare product maker's stock valued at $320,000 after acquiring an additional 80 shares during the period. Glass Wealth Management Co LLC lifted its stake in shares of Abbott Laboratories by 3.2% during the 4th quarter. Glass Wealth Management Co LLC now owns 2,640 shares of the healthcare product maker's stock worth $299,000 after purchasing an additional 81 shares during the last quarter. Finally, Sfmg LLC boosted its position in Abbott Laboratories by 1.9% during the third quarter. Sfmg LLC now owns 4,622 shares of the healthcare product maker's stock valued at $527,000 after purchasing an additional 88 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ABT shares. Bank of America boosted their target price on shares of Abbott Laboratories from $133.00 to $150.00 and gave the stock a "buy" rating in a report on Monday. StockNews.com lowered shares of Abbott Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 12th. The Goldman Sachs Group raised their target price on shares of Abbott Laboratories from $138.00 to $154.00 and gave the company a "buy" rating in a research note on Tuesday, March 4th. Evercore ISI upped their price target on Abbott Laboratories to $136.00 and gave the stock a "buy" rating in a research report on Thursday, January 2nd. Finally, UBS Group raised their price objective on Abbott Laboratories from $146.00 to $148.00 and gave the stock a "buy" rating in a research report on Thursday, January 23rd. Four investment 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's stock. Based on data from MarketBeat, Abbott Laboratories presently has an average rating of "Moderate Buy" and an average price target of $137.94.

Abbott Laboratories Stock Performance

NYSE ABT traded down $2.57 on Wednesday, reaching $130.09. 4,638,844 shares of the company's stock traded hands, compared to its average volume of 5,545,554. The stock has a 50 day moving average price of $126.23 and a 200-day moving average price of $119.13. The firm has a market cap of $225.62 billion, a price-to-earnings ratio of 17.04, a P/E/G ratio of 2.52 and a beta of 0.69. 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 fifty-two week low of $99.71 and a fifty-two week high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, hitting analysts' consensus estimates of $1.34. The firm 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 company's revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.19 earnings per share. Equities research analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend is Tuesday, April 15th. Abbott Laboratories's dividend payout ratio (DPR) is presently 30.85%.

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 that occurred on 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lisa D. Earnhardt sold 91,167 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now 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. Over the last quarter, insiders have sold 116,449 shares of company stock worth $15,463,316. 0.47% of the stock is owned by company insiders.

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.