Abbott Laboratories (NYSE:ABT) Stock Position Lifted by Argent Trust Co

Argent Trust Co boosted its position in shares of Abbott Laboratories (NYSE:ABT) by 0.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 147,266 shares of the healthcare product maker’s stock after buying an additional 119 shares during the quarter. Argent Trust Co’s holdings in Abbott Laboratories were worth $16,657,000 at the end of the most recent quarter.

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

Abbott Laboratories Stock Down 1.4 %

Shares of ABT traded down $1.72 during trading hours on Thursday, reaching $125.32. 285,088 shares of the stock traded hands, compared to its average volume of 5,941,856. The company has a market cap of $217.35 billion, a price-to-earnings ratio of 16.33, a PEG ratio of 2.52 and a beta of 0.80. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $141.23. The stock has a fifty day simple moving average of $130.88 and a 200 day simple moving average of $121.17.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, hitting the consensus estimate of $1.34. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The firm had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $11.03 billion. During the same period last year, the company posted $1.19 EPS. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities analysts forecast that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend is Tuesday, April 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 30.85%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ABT shares. Barclays reiterated an “overweight” rating and issued a $158.00 price target (up from $149.00) on shares of Abbott Laboratories in a research note on Monday, January 27th. Stifel Nicolaus lifted their price objective on shares of Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Wells Fargo & Company upped their price target 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. The Goldman Sachs Group raised their price objective on shares of Abbott Laboratories from $138.00 to $154.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Finally, Citigroup lifted their target price on shares of Abbott Laboratories from $135.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $137.94.

Insider Buying and Selling

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $128.50, for a total value of $3,054,573.50. Following the transaction, the executive vice president now owns 125,697 shares in the company, valued at approximately $16,152,064.50. This trade represents a 15.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Andrea F. Wainer sold 949 shares of Abbott Laboratories stock in a transaction 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 transaction, the executive vice president now owns 74,381 shares in the company, 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. Over the last 90 days, insiders have sold 116,449 shares of company stock worth $15,463,316. Insiders own 0.46% of the company’s stock.

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.