Van Cleef Asset Management Inc Has $598,000 Stake in Abbott Laboratories (NYSE:ABT)

Van Cleef Asset Management Inc trimmed its stake in shares of Abbott Laboratories (NYSE:ABT) by 8.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 5,290 shares of the healthcare product maker’s stock after selling 500 shares during the quarter. Van Cleef Asset Management Inc’s holdings in Abbott Laboratories were worth $598,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ABT. Peterson Financial Group Inc. acquired a new stake in shares of Abbott Laboratories during the 3rd quarter worth approximately $32,000. Valued Wealth Advisors LLC lifted its stake in Abbott Laboratories by 78.4% during the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after purchasing an additional 127 shares during the last quarter. Wingate Wealth Advisors Inc. acquired a new stake in shares of Abbott Laboratories in the 4th quarter valued at $34,000. Highline Wealth Partners LLC acquired a new position in shares of Abbott Laboratories during the 3rd quarter worth $37,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Abbott Laboratories during the 4th quarter worth $37,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the transaction, the executive vice president now owns 125,697 shares of the company’s stock, valued at $16,152,064.50. This represents a 15.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.10% of the company’s stock.

Abbott Laboratories Stock Down 0.1 %

Shares of NYSE ABT opened at $135.89 on Friday. Abbott Laboratories has a 52-week low of $99.71 and a 52-week high of $136.99. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The company’s 50 day moving average price is $122.60 and its 200-day moving average price is $117.56. The company has a market capitalization of $235.67 billion, a P/E ratio of 17.76, a price-to-earnings-growth ratio of 2.52 and a beta of 0.75.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, meeting analysts’ consensus estimates of $1.34. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The business had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $11.03 billion. During the same quarter in the prior year, the firm posted $1.19 earnings per share. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. Equities analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.74%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 30.85%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ABT. Barclays reiterated an “overweight” rating and issued a $158.00 target price (up previously from $149.00) on shares of Abbott Laboratories in a research report on Monday, January 27th. Royal Bank of Canada reiterated an “outperform” rating and set a $135.00 price objective on shares of Abbott Laboratories in a research report on Tuesday, January 21st. Wells Fargo & Company raised their target price on shares of Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. UBS Group upped their price target on shares of Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Finally, Argus raised Abbott Laboratories to a “strong-buy” rating in a report on Tuesday, January 28th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $133.06.

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.