Abbott Laboratories (NYSE:ABT) Shares Sold by Dumont & Blake Investment Advisors LLC

Dumont & Blake Investment Advisors LLC trimmed its holdings in Abbott Laboratories (NYSE:ABTFree Report) by 5.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 11,541 shares of the healthcare product maker’s stock after selling 700 shares during the quarter. Dumont & Blake Investment Advisors LLC’s holdings in Abbott Laboratories were worth $1,270,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Patriot Investment Management Group Inc. lifted its holdings in shares of Abbott Laboratories by 3.1% during the fourth quarter. Patriot Investment Management Group Inc. now owns 3,236 shares of the healthcare product maker’s stock worth $356,000 after purchasing an additional 96 shares during the period. Shepherd Financial Partners LLC raised its holdings in Abbott Laboratories by 4.5% during the fourth quarter. Shepherd Financial Partners LLC now owns 2,275 shares of the healthcare product maker’s stock worth $250,000 after purchasing an additional 99 shares in the last quarter. Renaissance Investment Group LLC lifted its position in Abbott Laboratories by 0.7% in the fourth quarter. Renaissance Investment Group LLC now owns 14,204 shares of the healthcare product maker’s stock valued at $1,563,000 after purchasing an additional 100 shares during the period. Drive Wealth Management LLC increased its position in Abbott Laboratories by 1.5% during the 4th quarter. Drive Wealth Management LLC now owns 6,712 shares of the healthcare product maker’s stock worth $739,000 after purchasing an additional 100 shares during the period. Finally, Landaas & Co. WI ADV raised its stake in shares of Abbott Laboratories by 1.8% during the 4th quarter. Landaas & Co. WI ADV now owns 5,534 shares of the healthcare product maker’s stock worth $608,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on ABT shares. Barclays increased their price objective on Abbott Laboratories from $133.00 to $141.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Royal Bank of Canada reissued an “outperform” rating and set a $128.00 price objective on shares of Abbott Laboratories in a report on Wednesday, February 14th. TheStreet raised shares of Abbott Laboratories from a “c+” rating to a “b-” rating in a report on Thursday, December 21st. Citigroup boosted their price target on Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Raymond James lifted their price objective on Abbott Laboratories from $124.00 to $127.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $121.92.

Get Our Latest Report on Abbott Laboratories

Abbott Laboratories Trading Down 0.8 %

NYSE:ABT traded down $0.89 on Wednesday, reaching $111.13. The stock had a trading volume of 2,237,848 shares, compared to its average volume of 5,643,807. The company has a market cap of $192.83 billion, a price-to-earnings ratio of 34.28, a P/E/G ratio of 2.70 and a beta of 0.74. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.64 and a quick ratio of 1.16. Abbott Laboratories has a 12-month low of $89.67 and a 12-month high of $121.64. The firm’s fifty day moving average is $115.02 and its two-hundred day moving average is $106.74.

Abbott Laboratories (NYSE:ABTGet Free Report) last announced its quarterly earnings data on Wednesday, January 24th. The healthcare product maker reported $1.19 EPS for the quarter, meeting analysts’ consensus estimates of $1.19. Abbott Laboratories had a return on equity of 20.65% and a net margin of 14.27%. The business had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $10.19 billion. During the same quarter in the previous year, the business earned $1.03 earnings per share. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. Equities analysts expect that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Friday, April 12th. Abbott Laboratories’s dividend payout ratio is currently 67.48%.

Insider Activity

In related news, VP John A. Jr. Mccoy sold 472 shares of Abbott Laboratories stock in a transaction on Friday, March 1st. The stock was sold at an average price of $118.50, for a total value of $55,932.00. Following the transaction, the vice president now owns 18,760 shares in the company, valued at $2,223,060. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Abbott Laboratories news, EVP Andrea F. Wainer sold 12,500 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was 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 sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP John A. Jr. Mccoy sold 472 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $118.50, for a total value of $55,932.00. Following the sale, the vice president now owns 18,760 shares in the company, valued at $2,223,060. The disclosure for this sale can be found here. Insiders sold 56,435 shares of company stock valued at $6,451,298 in the last ninety days. Company insiders own 0.47% of the company’s stock.

Abbott Laboratories Company Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abbott Laboratories (NYSE:ABTFree Report).

Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.