Abbott Laboratories (NYSE:ABT) Shares Sold by Alpha Omega Wealth Management LLC

Alpha Omega Wealth Management LLC cut its stake in shares of Abbott Laboratories (NYSE:ABT) by 4.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 22,861 shares of the healthcare product maker’s stock after selling 1,058 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in Abbott Laboratories were worth $2,516,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of ABT. Altshuler Shaham Ltd bought a new position in Abbott Laboratories during the fourth quarter valued at about $28,000. Cornerstone Planning Group LLC acquired a new stake in Abbott Laboratories during the second quarter worth about $28,000. FWL Investment Management LLC acquired a new stake in Abbott Laboratories during the fourth quarter worth about $33,000. True Wealth Design LLC acquired a new stake in Abbott Laboratories during the fourth quarter worth about $33,000. Finally, Quarry LP boosted its holdings in Abbott Laboratories by 132.9% during the second quarter. Quarry LP now owns 333 shares of the healthcare product maker’s stock valued at $36,000 after purchasing an additional 190 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ABT shares. Barclays boosted their target price on Abbott Laboratories from $133.00 to $141.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. TheStreet upgraded shares of Abbott Laboratories from a “c+” rating to a “b-” rating in a research report on Thursday, December 21st. Citigroup boosted their price target on shares of Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Evercore ISI boosted their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Finally, Raymond James increased their target price on Abbott Laboratories from $124.00 to $127.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $122.14.

Insider Activity at Abbott Laboratories

In related news, EVP Andrea F. Wainer sold 12,500 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the transaction, the executive vice president now owns 78,704 shares of the company’s stock, valued at approximately $9,444,480. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Andrea F. Wainer sold 12,500 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the transaction, the executive vice president now owns 78,704 shares of the company’s stock, valued at approximately $9,444,480. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Andrea F. Wainer sold 42,500 shares of the stock in a transaction on Monday, January 29th. The shares were sold at an average price of $112.50, for a total transaction of $4,781,250.00. Following the transaction, the executive vice president now directly owns 65,027 shares in the company, valued at approximately $7,315,537.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,435 shares of company stock valued at $6,451,298. Insiders own 0.47% of the company’s stock.

Abbott Laboratories Stock Up 0.3 %

ABT stock traded up $0.32 during trading on Wednesday, reaching $109.21. The stock had a trading volume of 7,283,867 shares, compared to its average volume of 5,461,397. Abbott Laboratories has a one year low of $89.67 and a one year high of $121.64. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.35. The company’s 50 day moving average is $114.57 and its two-hundred day moving average is $107.60. The company has a market capitalization of $189.50 billion, a price-to-earnings ratio of 33.50, a P/E/G ratio of 2.62 and a beta of 0.74.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, January 24th. The healthcare product maker reported $1.19 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.19. Abbott Laboratories had a net margin of 14.27% and a return on equity of 20.65%. The business had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $10.19 billion. During the same period in the prior year, the firm posted $1.03 EPS. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. Equities research analysts forecast that Abbott Laboratories will post 4.62 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, April 12th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 67.48%.

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.