Phoenix Financial Ltd. decreased its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 12.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,570 shares of the healthcare product maker's stock after selling 5,030 shares during the quarter. Phoenix Financial Ltd.'s holdings in Abbott Laboratories were worth $3,911,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Noble Wealth Management PBC bought a new position in Abbott Laboratories during the fourth quarter valued at about $26,000. NewSquare Capital LLC boosted its stake in Abbott Laboratories by 78.4% in the fourth 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 last quarter. WealthTrak Capital Management LLC acquired a new position in shares of Abbott Laboratories during the 4th quarter worth about $28,000. Rialto Wealth Management LLC bought a new position in Abbott Laboratories during the fourth quarter worth about $29,000. Finally, Wingate Wealth Advisors Inc. acquired a new position in Abbott Laboratories in the 4th quarter worth $34,000. Institutional investors and hedge funds own 75.18% of the company's stock.
Abbott Laboratories Stock Performance
Shares of ABT stock traded up $5.24 during trading hours on Wednesday, reaching $131.46. The stock had a trading volume of 6,469,299 shares, compared to its average volume of 6,034,476. The firm has a market capitalization of $227.99 billion, a PE ratio of 17.18, a price-to-earnings-growth ratio of 2.52 and a beta of 0.80. The firm has a 50-day simple moving average of $130.62 and a 200-day simple moving average of $121.54. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $141.23. 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 announced its quarterly earnings data on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, beating analysts' consensus estimates of $1.07 by $0.02. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The firm had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.38 billion. As a group, equities analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current 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 of this dividend is Tuesday, April 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.80%. Abbott Laboratories's payout ratio is 30.85%.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on ABT. The Goldman Sachs Group raised their price objective on Abbott Laboratories from $138.00 to $154.00 and gave the company a "buy" rating in a research report on Tuesday, March 4th. Barclays reissued an "overweight" rating and issued a $158.00 price target (up previously from $149.00) on shares of Abbott Laboratories in a research note on Monday, January 27th. Citigroup increased their target price on shares of Abbott Laboratories from $135.00 to $160.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. StockNews.com cut Abbott Laboratories from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, February 12th. Finally, Argus upgraded shares of Abbott Laboratories to a "strong-buy" rating in a research note on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $137.94.
Read Our Latest Analysis on ABT
Insider Transactions at Abbott Laboratories
In other news, EVP Lisa D. Earnhardt sold 91,167 shares of the stock in a transaction on 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 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the 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 sale, the executive vice president now owns 125,697 shares in the company, valued at approximately $16,152,064.50. This trade represents a 15.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 116,449 shares of company stock valued at $15,463,316. Corporate insiders own 0.46% of the company's stock.
About Abbott Laboratories
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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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