IHT Wealth Management LLC Sells 7,981 Shares of Abbott Laboratories (NYSE:ABT)

IHT Wealth Management LLC trimmed its position in Abbott Laboratories (NYSE:ABT - Free Report) by 17.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,371 shares of the healthcare product maker's stock after selling 7,981 shares during the period. IHT Wealth Management LLC's holdings in Abbott Laboratories were worth $4,340,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of ABT. Morse Asset Management Inc acquired a new position in Abbott Laboratories during the third quarter valued at approximately $380,000. Tudor Financial Inc. acquired a new position in Abbott Laboratories during the third quarter worth $302,000. Anchor Investment Management LLC raised its position in Abbott Laboratories by 2.9% during the third quarter. Anchor Investment Management LLC now owns 54,237 shares of the healthcare product maker's stock worth $6,184,000 after acquiring an additional 1,509 shares in the last quarter. Fulcrum Equity Management acquired a new stake in Abbott Laboratories in the third quarter valued at $239,000. Finally, Wilmington Savings Fund Society FSB grew its position in shares of Abbott Laboratories by 32.6% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 332,189 shares of the healthcare product maker's stock valued at $37,873,000 after acquiring an additional 81,669 shares during the period. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Price Performance

ABT stock traded down $0.49 during midday trading on Friday, reaching $128.90. The company had a trading volume of 4,849,055 shares, compared to its average volume of 6,063,204. The company has a market capitalization of $223.55 billion, a price-to-earnings ratio of 16.85, a price-to-earnings-growth ratio of 2.52 and a beta of 0.80. 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 has a 1-year low of $99.71 and a 1-year high of $141.23. The stock has a 50 day moving average price of $130.57 and a 200-day moving average price of $122.31.

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

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.83%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories's payout ratio is 30.61%.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, EVP Lisa D. Earnhardt sold 91,167 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $133.82, for a total value of $12,199,967.94. Following the completion of the transaction, the executive vice president now owns 71,928 shares of the company's stock, valued at $9,625,404.96. This represents a 55.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Andrea F. Wainer sold 949 shares of Abbott Laboratories stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $138.17, for a total value of $131,123.33. Following the sale, the executive vice president now directly owns 74,381 shares in the company, valued at $10,277,222.77. The trade was a 1.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 116,449 shares of company stock valued at $15,463,316. 0.46% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Stifel Nicolaus raised their target price on shares of Abbott Laboratories from $135.00 to $145.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. Royal Bank of Canada lifted their target price on Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a research note on Thursday, April 17th. Citigroup increased their price target on Abbott Laboratories from $135.00 to $160.00 and gave the company a "buy" rating in a research note on Tuesday, March 4th. Argus raised shares of Abbott Laboratories to a "strong-buy" rating in a research report on Tuesday, January 28th. Finally, Barclays increased their price objective on shares of Abbott Laboratories from $158.00 to $159.00 and gave the company an "overweight" rating in a research report on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Abbott Laboratories has a consensus rating of "Moderate Buy" and a consensus target price of $142.59.

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.