Lyell Wealth Management LP Sells 4,635 Shares of Abbott Laboratories (NYSE:ABT)

Lyell Wealth Management LP lowered its stake in Abbott Laboratories (NYSE:ABT) by 7.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,358 shares of the healthcare product maker’s stock after selling 4,635 shares during the quarter. Lyell Wealth Management LP’s holdings in Abbott Laboratories were worth $6,093,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in ABT. Rise Advisors LLC bought a new stake in Abbott Laboratories during the 4th quarter valued at approximately $37,000. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in Abbott Laboratories during the 3rd quarter valued at approximately $40,000. Cornerstone Planning Group LLC raised its stake in Abbott Laboratories by 79.4% during the 3rd quarter. Cornerstone Planning Group LLC now owns 454 shares of the healthcare product maker’s stock valued at $44,000 after purchasing an additional 201 shares during the period. Bfsg LLC bought a new stake in Abbott Laboratories during the 4th quarter valued at approximately $51,000. Finally, Legacy Financial Group LLC bought a new stake in Abbott Laboratories during the 3rd quarter valued at approximately $46,000. Institutional investors own 75.18% of the company’s stock.

Insiders Place Their Bets

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 42,500 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $112.50, for a total value of $4,781,250.00. Following the completion of the sale, the executive vice president now directly owns 65,027 shares in the company, valued at approximately $7,315,537.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, VP John A. Jr. Mccoy sold 472 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $55,932.00. Following the transaction, the vice president now directly owns 18,760 shares of the company’s stock, valued at approximately $2,223,060. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Andrea F. Wainer sold 42,500 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $112.50, for a total value of $4,781,250.00. Following the transaction, the executive vice president now directly owns 65,027 shares in the company, valued at $7,315,537.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,435 shares of company stock worth $6,451,298. 0.47% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Citigroup lifted their price objective on Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Evercore ISI lifted their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Barclays reduced their price objective on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a research note on Monday. Raymond James reaffirmed a “buy” rating and issued a $124.00 price objective on shares of Abbott Laboratories in a research note on Wednesday. Finally, Royal Bank of Canada dropped their target price on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a report on Thursday, April 18th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $121.50.

Abbott Laboratories Trading Down 0.7 %

ABT traded down $0.70 during trading hours on Wednesday, reaching $106.89. 5,050,066 shares of the company’s stock traded hands, compared to its average volume of 5,719,627. The firm has a 50-day moving average price of $113.90 and a 200 day moving average price of $107.97. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $185.47 billion, a PE ratio of 33.30, a PEG ratio of 2.58 and a beta of 0.74.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. Abbott Laboratories had a return on equity of 20.32% and a net margin of 13.96%. The company had revenue of $9.96 billion during the quarter, compared to analysts’ expectations of $9.88 billion. During the same quarter in the previous year, the business earned $1.03 EPS. Abbott Laboratories’s revenue was up 2.2% compared to the same quarter last year. As a group, sell-side analysts predict that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Friday, April 12th. Abbott Laboratories’s dividend payout ratio is 68.54%.

Abbott Laboratories Company 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.