Abbott Laboratories (NYSE:ABT) Shares Sold by Bartlett & CO. Wealth Management LLC

Bartlett & CO. Wealth Management LLC trimmed its stake in shares of Abbott Laboratories (NYSE:ABT) by 0.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,067,626 shares of the healthcare product maker’s stock after selling 4,315 shares during the quarter. Abbott Laboratories accounts for 1.8% of Bartlett & CO. Wealth Management LLC’s holdings, making the stock its 13th largest holding. Bartlett & CO. Wealth Management LLC owned about 0.06% of Abbott Laboratories worth $120,759,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Future Financial Wealth Managment LLC purchased a new stake in shares of Abbott Laboratories during the third quarter worth approximately $31,000. Peterson Financial Group Inc. purchased a new stake in shares of Abbott Laboratories in the 3rd quarter valued at approximately $32,000. Valued Wealth Advisors LLC raised its holdings in shares of Abbott Laboratories by 78.4% in the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after purchasing an additional 127 shares in the last quarter. Highline Wealth Partners LLC purchased a new stake in shares of Abbott Laboratories during the 3rd quarter worth $37,000. Finally, JDM Financial Group LLC grew its stake in shares of Abbott Laboratories by 51.3% during the third quarter. JDM Financial Group LLC now owns 363 shares of the healthcare product maker’s stock worth $41,000 after purchasing an additional 123 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Raymond James reaffirmed a “buy” rating and set a $129.00 price target (up from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Sanford C. Bernstein upped their price target on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Royal Bank of Canada restated an “outperform” rating and set a $135.00 price objective on shares of Abbott Laboratories in a research report on Tuesday. Morgan Stanley increased their target price on shares of Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Finally, UBS Group upped their price objective on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus price target of $131.93.

Abbott Laboratories Price Performance

Abbott Laboratories stock opened at $117.76 on Thursday. The business has a 50 day simple moving average of $114.87 and a 200-day simple moving average of $113.04. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $121.64. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The stock has a market capitalization of $204.25 billion, a PE ratio of 35.79, a price-to-earnings-growth ratio of 2.43 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, hitting the consensus estimate of $1.34. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The company had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $11,029,400 billion. During the same quarter last year, the business earned $1.19 EPS. The business’s revenue was up 7.2% on a year-over-year basis. Equities analysts predict that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a $0.59 dividend. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 71.73%.

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.