Mission Wealth Management LP Cuts Position in Abbott Laboratories (NYSE:ABT)

Mission Wealth Management LP lessened its stake in Abbott Laboratories (NYSE:ABT) by 0.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,855 shares of the healthcare product maker’s stock after selling 98 shares during the quarter. Mission Wealth Management LP’s holdings in Abbott Laboratories were worth $1,525,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Certuity LLC increased its holdings in shares of Abbott Laboratories by 3.2% in the 4th quarter. Certuity LLC now owns 5,008 shares of the healthcare product maker’s stock valued at $551,000 after purchasing an additional 157 shares in the last quarter. Duff & Phelps Investment Management Co. increased its holdings in shares of Abbott Laboratories by 0.5% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 19,280 shares of the healthcare product maker’s stock valued at $2,122,000 after purchasing an additional 100 shares in the last quarter. Kestra Private Wealth Services LLC increased its holdings in Abbott Laboratories by 0.7% during the 4th quarter. Kestra Private Wealth Services LLC now owns 102,339 shares of the healthcare product maker’s stock valued at $11,264,000 after acquiring an additional 687 shares in the last quarter. Amica Mutual Insurance Co. increased its holdings in Abbott Laboratories by 14.7% during the 4th quarter. Amica Mutual Insurance Co. now owns 117,532 shares of the healthcare product maker’s stock valued at $12,937,000 after acquiring an additional 15,087 shares in the last quarter. Finally, Ledyard National Bank increased its holdings in Abbott Laboratories by 11.6% during the 4th quarter. Ledyard National Bank now owns 21,871 shares of the healthcare product maker’s stock valued at $2,407,000 after acquiring an additional 2,278 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Royal Bank of Canada dropped their target price on shares of Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a report on Thursday, April 18th. Evercore ISI raised their target price 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. Citigroup raised their target price 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. Barclays decreased their price target on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a research note on Monday, April 22nd. Finally, Raymond James reaffirmed a “buy” rating and set a $124.00 price target on shares of Abbott Laboratories in a research note on Wednesday, April 24th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $121.50.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 12,500 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $120.00, for a total value of $1,500,000.00. Following the transaction, the executive vice president now owns 78,704 shares of the company’s stock, valued at $9,444,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Andrea F. Wainer sold 12,500 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $9,444,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Daniel Gesua Sive Salvadori sold 963 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $114,115.50. Following the completion of the sale, the executive vice president now owns 125,697 shares in the company, valued at $14,895,094.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,935 shares of company stock valued at $1,670,048. Insiders own 0.47% of the company’s stock.

Abbott Laboratories Trading Down 1.2 %

Shares of ABT opened at $105.94 on Wednesday. The company has a current ratio of 1.64, a quick ratio of 1.16 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $183.82 billion, a P/E ratio of 33.00, a price-to-earnings-growth ratio of 2.58 and a beta of 0.74. The stock’s fifty day simple moving average is $113.29 and its 200 day simple moving average is $108.44. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.02. The business had revenue of $9.96 billion for the quarter, compared to analyst estimates of $9.88 billion. Abbott Laboratories had a return on equity of 20.32% and a net margin of 13.96%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the company posted $1.03 EPS. On average, equities research analysts forecast 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. Stockholders of record on Monday, April 15th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $2.20 annualized dividend and a dividend yield of 2.08%. Abbott Laboratories’s dividend payout ratio is presently 68.54%.

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.