Abbott Laboratories (NYSE:ABT) Shares Sold by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. lowered its holdings in Abbott Laboratories (NYSE:ABT) by 2.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 113,924 shares of the healthcare product maker’s stock after selling 3,446 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Abbott Laboratories were worth $12,886,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Groupama Asset Managment raised its stake in shares of Abbott Laboratories by 22.2% during the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock valued at $26,000 after buying an additional 41,557 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new position in Abbott Laboratories during the third quarter valued at approximately $31,000. Peterson Financial Group Inc. purchased a new stake in Abbott Laboratories in the 3rd quarter worth approximately $32,000. Valued Wealth Advisors LLC increased its holdings in shares of Abbott Laboratories by 78.4% during 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. Finally, Highline Wealth Partners LLC acquired a new position in shares of Abbott Laboratories in the 3rd quarter valued at $37,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Trading Up 0.6 %

ABT opened at $129.18 on Wednesday. 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 company’s 50 day simple moving average is $116.58 and its two-hundred day simple moving average is $114.52. The firm has a market capitalization of $224.06 billion, a price-to-earnings ratio of 16.89, a price-to-earnings-growth ratio of 2.39 and a beta of 0.74. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $129.85.

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, meeting the consensus estimate of $1.34. The company had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $11.03 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.19 EPS. Analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a dividend of $0.59 per share. The ex-dividend date is Wednesday, January 15th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 dividend on an annualized basis and a yield of 1.83%. Abbott Laboratories’s payout ratio is 30.85%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ABT. Raymond James reaffirmed a “buy” rating and issued a $129.00 price objective (up previously from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $135.00 price target on shares of Abbott Laboratories in a report on Tuesday, January 21st. Sanford C. Bernstein raised their price objective on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Argus raised Abbott Laboratories to a “strong-buy” rating in a research note on Tuesday, January 28th. Finally, Stifel Nicolaus lifted their price target on shares of Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and an average price target of $133.06.

Insider Transactions at Abbott Laboratories

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the firm’s stock in a transaction dated 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 completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.47% of the company’s stock.

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.