Chevy Chase Trust Holdings LLC Sells 22,903 Shares of Abbott Laboratories (NYSE:ABT)

Chevy Chase Trust Holdings LLC decreased its holdings in Abbott Laboratories (NYSE:ABT) by 2.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 944,323 shares of the healthcare product maker’s stock after selling 22,903 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.05% of Abbott Laboratories worth $106,812,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Insight Folios Inc raised its stake in Abbott Laboratories by 3.3% in the third quarter. Insight Folios Inc now owns 2,691 shares of the healthcare product maker’s stock valued at $307,000 after buying an additional 87 shares during the period. Sfmg LLC increased its stake in shares of Abbott Laboratories by 1.9% during the third quarter. Sfmg LLC now owns 4,622 shares of the healthcare product maker’s stock worth $527,000 after purchasing an additional 88 shares during the period. River Street Advisors LLC increased its stake in shares of Abbott Laboratories by 1.2% during the fourth quarter. River Street Advisors LLC now owns 7,370 shares of the healthcare product maker’s stock worth $834,000 after purchasing an additional 88 shares during the period. Wedge Capital Management L L P NC increased its stake in shares of Abbott Laboratories by 2.9% during the third quarter. Wedge Capital Management L L P NC now owns 3,153 shares of the healthcare product maker’s stock worth $359,000 after purchasing an additional 89 shares during the period. Finally, Silicon Valley Capital Partners increased its stake in shares of Abbott Laboratories by 8.7% during the third quarter. Silicon Valley Capital Partners now owns 1,108 shares of the healthcare product maker’s stock worth $126,000 after purchasing an additional 89 shares during the period. Institutional investors own 75.18% of the company’s stock.

Insider Buying and Selling

In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of Abbott Laboratories stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 125,697 shares of the company’s stock, valued at approximately $16,152,064.50. This trade represents a 15.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.10% of the stock is owned by corporate insiders.

Abbott Laboratories Trading Up 1.0 %

NYSE ABT opened at $131.83 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $132.50. The company has a market cap of $228.66 billion, a price-to-earnings ratio of 17.23, a price-to-earnings-growth ratio of 2.39 and a beta of 0.75. The business’s fifty day moving average is $118.34 and its 200 day moving average is $115.71.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, meeting the consensus estimate of $1.34. The company had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $11.03 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. Abbott Laboratories’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the business posted $1.19 EPS. As a group, sell-side analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a dividend of $0.59 per share. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 30.85%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ABT shares. Sanford C. Bernstein increased their target price on Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. UBS Group increased their target price on Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Barclays restated an “overweight” rating and set a $158.00 price objective (up previously from $149.00) on shares of Abbott Laboratories in a research note on Monday, January 27th. Stifel Nicolaus raised their price objective on Abbott Laboratories from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Finally, Morgan Stanley raised their price objective on Abbott Laboratories from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $133.06.

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.