Riverview Trust Co Trims Holdings in Abbott Laboratories (NYSE:ABT)

Riverview Trust Co lowered its holdings in shares of Abbott Laboratories (NYSE:ABT) by 4.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,099 shares of the healthcare product maker’s stock after selling 560 shares during the period. Abbott Laboratories accounts for 2.1% of Riverview Trust Co’s investment portfolio, making the stock its 18th largest holding. Riverview Trust Co’s holdings in Abbott Laboratories were worth $1,369,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Cape Investment Advisory Inc. boosted its position in Abbott Laboratories by 6.6% during the 4th quarter. Cape Investment Advisory Inc. now owns 1,236 shares of the healthcare product maker’s stock worth $140,000 after purchasing an additional 76 shares during the period. Jacobson & Schmitt Advisors LLC boosted its position in shares of Abbott Laboratories by 2.9% in the fourth quarter. Jacobson & Schmitt Advisors LLC now owns 2,827 shares of the healthcare product maker’s stock worth $320,000 after buying an additional 80 shares during the period. LMG Wealth Partners LLC grew its stake in shares of Abbott Laboratories by 3.8% in the fourth quarter. LMG Wealth Partners LLC now owns 2,161 shares of the healthcare product maker’s stock valued at $244,000 after buying an additional 80 shares in the last quarter. Sfmg LLC raised its holdings in shares of Abbott Laboratories by 1.9% during the 3rd quarter. Sfmg LLC now owns 4,622 shares of the healthcare product maker’s stock valued at $527,000 after buying an additional 88 shares during the period. Finally, River Street Advisors LLC lifted its position in Abbott Laboratories by 1.2% during the 4th quarter. River Street Advisors LLC now owns 7,370 shares of the healthcare product maker’s stock worth $834,000 after acquiring an additional 88 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Stock Up 1.6 %

Shares of NYSE:ABT opened at $137.99 on Friday. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $138.37. The company’s fifty day moving average is $123.08 and its two-hundred day moving average is $117.83. 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 stock has a market capitalization of $239.32 billion, a price-to-earnings ratio of 18.04, a price-to-earnings-growth ratio of 2.52 and a beta of 0.75.

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

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.71%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories’s dividend payout ratio is presently 30.85%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ABT. StockNews.com lowered shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Evercore ISI lifted their price target on shares of Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Barclays reissued an “overweight” rating and issued a $158.00 price objective (up from $149.00) on shares of Abbott Laboratories in a research report on Monday, January 27th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $135.00 target price on shares of Abbott Laboratories in a research report on Tuesday, January 21st. Finally, Wells Fargo & Company increased their price target on Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $133.06.

Insider Buying and Selling at Abbott Laboratories

In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the sale, the executive vice president now owns 125,697 shares of the company’s stock, valued at approximately $16,152,064.50. The trade was a 15.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.10% of the stock is currently owned by company insiders.

Abbott Laboratories 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.