WestHill Financial Advisors Inc. Reduces Stake in Abbott Laboratories (NYSE:ABT)

WestHill Financial Advisors Inc. lowered its holdings in Abbott Laboratories (NYSE:ABT) by 18.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,937 shares of the healthcare product maker’s stock after selling 425 shares during the quarter. WestHill Financial Advisors Inc.’s holdings in Abbott Laboratories were worth $213,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of ABT. Altshuler Shaham Ltd purchased a new position in Abbott Laboratories in the 4th quarter worth approximately $28,000. Cornerstone Planning Group LLC purchased a new position in Abbott Laboratories in the 2nd quarter worth approximately $28,000. FWL Investment Management LLC purchased a new position in Abbott Laboratories in the 4th quarter worth approximately $33,000. True Wealth Design LLC purchased a new position in Abbott Laboratories in the 4th quarter worth approximately $33,000. Finally, Quarry LP grew its stake in Abbott Laboratories by 132.9% in the 2nd quarter. Quarry LP now owns 333 shares of the healthcare product maker’s stock worth $36,000 after buying an additional 190 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Insiders Place Their Bets

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 42,500 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $112.50, for a total value of $4,781,250.00. Following the transaction, the executive vice president now owns 65,027 shares of the company’s stock, valued at $7,315,537.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 963 shares of Abbott Laboratories stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $118.50, for a total value of $114,115.50. Following the transaction, the executive vice president now owns 125,697 shares in the company, valued at $14,895,094.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Andrea F. Wainer sold 42,500 shares of Abbott Laboratories stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $112.50, for a total transaction of $4,781,250.00. Following the completion of the transaction, the executive vice president now owns 65,027 shares in the company, valued at approximately $7,315,537.50. The disclosure for this sale can be found here. Insiders have sold 56,435 shares of company stock valued at $6,451,298 over the last quarter. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

ABT has been the subject of a number of research reports. Citigroup upped their price objective on shares of Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Evercore ISI boosted their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Raymond James boosted their price target on shares of Abbott Laboratories from $124.00 to $127.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Barclays boosted their price target on shares of Abbott Laboratories from $133.00 to $141.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $128.00 price target on shares of Abbott Laboratories in a research report on Wednesday, February 14th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and an average price target of $121.54.

Abbott Laboratories Trading Down 0.3 %

Shares of NYSE ABT traded down $0.28 during midday trading on Thursday, hitting $105.62. The stock had a trading volume of 1,800,499 shares, compared to its average volume of 5,624,748. The company has a market capitalization of $183.27 billion, a price-to-earnings ratio of 32.48, a PEG ratio of 2.63 and a beta of 0.74. Abbott Laboratories has a 1-year low of $89.67 and a 1-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 has a fifty day moving average price of $114.42 and a 200 day moving average price of $107.59.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. The business had revenue of $9.96 billion during the quarter, compared to the consensus estimate of $9.88 billion. Abbott Laboratories had a return on equity of 20.65% and a net margin of 14.27%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the firm earned $1.03 earnings per share. On average, analysts predict that Abbott Laboratories will post 4.62 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be issued a $0.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $2.20 dividend on an annualized basis and a yield of 2.08%. Abbott Laboratories’s dividend payout ratio is currently 67.48%.

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.