Alpha Cubed Investments LLC Has $942,000 Stake in Abbott Laboratories (NYSE:ABT)

Alpha Cubed Investments LLC decreased its position in shares of Abbott Laboratories (NYSE:ABT) by 1.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,558 shares of the healthcare product maker’s stock after selling 160 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Abbott Laboratories were worth $942,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Alliance Wealth Advisors LLC UT increased its holdings in shares of Abbott Laboratories by 0.4% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 25,085 shares of the healthcare product maker’s stock worth $2,761,000 after purchasing an additional 92 shares during the period. Rappaport Reiches Capital Management LLC increased its stake in Abbott Laboratories by 0.8% in the fourth quarter. Rappaport Reiches Capital Management LLC now owns 12,287 shares of the healthcare product maker’s stock valued at $1,352,000 after acquiring an additional 94 shares during the last quarter. Avion Wealth increased its stake in Abbott Laboratories by 19.4% in the fourth quarter. Avion Wealth now owns 591 shares of the healthcare product maker’s stock valued at $65,000 after acquiring an additional 96 shares during the last quarter. Renaissance Investment Group LLC increased its stake 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 acquiring an additional 100 shares during the last quarter. Finally, Drive Wealth Management LLC increased its stake in Abbott Laboratories by 1.5% in the fourth quarter. Drive Wealth Management LLC now owns 6,712 shares of the healthcare product maker’s stock valued at $739,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of ABT opened at $105.97 on Wednesday. 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 one year low of $89.67 and a one year high of $121.64. The company has a 50-day simple moving average of $113.29 and a two-hundred day simple moving average of $108.44. The firm has a market capitalization of $183.88 billion, a PE ratio of 33.00, a price-to-earnings-growth ratio of 2.58 and a beta of 0.74.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.32%. The business had revenue of $9.96 billion during the quarter, compared to the consensus estimate of $9.88 billion. During the same quarter last year, the firm earned $1.03 earnings per share. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, analysts anticipate that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently announced 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 dividend yield of 2.08%. The ex-dividend date is Friday, April 12th. Abbott Laboratories’s dividend payout ratio is 68.54%.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 963 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $118.50, for a total transaction of $114,115.50. Following the completion of the transaction, the executive vice president now owns 125,697 shares of the company’s stock, valued at $14,895,094.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Daniel Gesua Sive Salvadori sold 963 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were 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 of the company’s stock, valued at $14,895,094.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 sale, the executive vice president now directly owns 78,704 shares of the company’s stock, valued at approximately $9,444,480. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,935 shares of company stock valued at $1,670,048. Corporate insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

ABT has been the topic of a number of research analyst reports. Barclays reduced their target price on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a research note on Monday, April 22nd. Raymond James reiterated a “buy” rating and set a $124.00 target price on shares of Abbott Laboratories in a report on Wednesday, April 24th. Citigroup increased their target price on shares of Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. 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. Finally, Evercore ISI increased their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $121.50.

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.