Zacks Investment Management Has $60.83 Million Holdings in Abbott Laboratories (NYSE:ABT)

Zacks Investment Management lowered its stake in shares of Abbott Laboratories (NYSE:ABT) by 10.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 537,785 shares of the healthcare product maker’s stock after selling 62,891 shares during the quarter. Zacks Investment Management’s holdings in Abbott Laboratories were worth $60,829,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Redwood Park Advisors LLC acquired a new position in shares of Abbott Laboratories during the fourth quarter worth approximately $25,000. Noble Wealth Management PBC bought a new stake in Abbott Laboratories in the fourth quarter valued at approximately $26,000. NewSquare Capital LLC grew its stake 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 acquiring an additional 105 shares in the last quarter. WealthTrak Capital Management LLC acquired a new position in Abbott Laboratories in the 4th quarter valued at $28,000. Finally, Rialto Wealth Management LLC acquired a new position in shares of Abbott Laboratories in the 4th quarter valued at approximately $29,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 949 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 74,381 shares in the company, valued at approximately $10,277,222.77. This trade represents a 1.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $128.50, for a total value of $3,054,573.50. Following the completion of the sale, the executive vice president now owns 125,697 shares in the company, valued at $16,152,064.50. This trade represents a 15.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 116,449 shares of company stock worth $15,463,316 in the last three months. 0.46% of the stock is owned by insiders.

Abbott Laboratories Price Performance

Abbott Laboratories stock opened at $126.08 on Wednesday. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $141.23. The firm’s 50-day moving average is $130.62 and its two-hundred day moving average is $121.54. The stock has a market capitalization of $218.67 billion, a P/E ratio of 16.48, a P/E/G ratio of 2.52 and a beta of 0.80. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14.

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

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Tuesday, April 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 30.85%.

Analyst Ratings Changes

ABT has been the subject of several analyst reports. Argus raised Abbott Laboratories to a “strong-buy” rating in a research report on Tuesday, January 28th. Evercore ISI raised their price target on shares of Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. Bank of America increased their price target on shares of Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, March 10th. StockNews.com downgraded shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $135.00 price target on shares of Abbott Laboratories in a research report on Tuesday, January 21st. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $137.94.

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.