Sterling Capital Management LLC Reduces Position in Abbott Laboratories (NYSE:ABT)

Sterling Capital Management LLC lessened its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 10.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 474,809 shares of the healthcare product maker's stock after selling 53,018 shares during the quarter. Sterling Capital Management LLC's holdings in Abbott Laboratories were worth $53,706,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Redwood Park Advisors LLC acquired a new stake in Abbott Laboratories during the 4th quarter valued at approximately $25,000. Noble Wealth Management PBC bought a new stake in Abbott Laboratories in the fourth quarter valued at $26,000. NewSquare Capital LLC boosted its position in shares of Abbott Laboratories by 78.4% during the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker's stock worth $27,000 after purchasing an additional 105 shares in the last quarter. WealthTrak Capital Management LLC acquired a new position in Abbott Laboratories during the 4th quarter worth approximately $28,000. Finally, Rialto Wealth Management LLC bought a new position in Abbott Laboratories in the fourth quarter worth approximately $29,000. Institutional investors and hedge funds own 75.18% of the company's stock.

Abbott Laboratories Price Performance

NYSE:ABT traded up $4.12 during mid-day trading on Wednesday, hitting $130.34. 8,113,603 shares of the stock traded hands, compared to its average volume of 7,127,659. The business's 50-day moving average price is $130.62 and its 200 day moving average price is $121.54. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The company has a market cap of $226.05 billion, a PE ratio of 17.04, a price-to-earnings-growth ratio of 2.52 and a beta of 0.80. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $141.23.

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Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, topping the consensus estimate 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 analysts' expectations of $10.38 billion. On average, analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $2.36 annualized dividend and a yield of 1.81%. Abbott Laboratories's payout ratio is presently 30.85%.

Insiders Place Their Bets

In related news, EVP Lisa D. Earnhardt sold 91,167 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $133.82, for a total transaction of $12,199,967.94. Following the transaction, the executive vice president now directly owns 71,928 shares of the company's stock, valued at approximately $9,625,404.96. This trade represents a 55.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Andrea F. Wainer sold 949 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $138.17, for a total value of $131,123.33. Following the completion of the sale, 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. Insiders sold a total of 116,449 shares of company stock valued at $15,463,316 in the last quarter. Corporate insiders own 0.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ABT shares. Evercore ISI boosted their price target on shares of Abbott Laboratories to $136.00 and gave the company a "buy" rating in a research note on Thursday, January 2nd. UBS Group raised 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. Wells Fargo & Company raised their target price on Abbott Laboratories from $133.00 to $136.00 and gave the company an "overweight" rating in a report on Thursday, January 23rd. Royal Bank of Canada reaffirmed an "outperform" rating and set a $135.00 price objective on shares of Abbott Laboratories in a report on Tuesday, January 21st. Finally, Barclays reissued an "overweight" rating and set a $158.00 price target (up from $149.00) on shares of Abbott Laboratories in a research report on Monday, January 27th. Four investment 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's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $137.94.

About Abbott Laboratories

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.