Modera Wealth Management LLC Sells 627 Shares of Abbott Laboratories (NYSE:ABT)

Modera Wealth Management LLC decreased its position in shares of Abbott Laboratories (NYSE:ABT) by 0.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 110,832 shares of the healthcare product maker’s stock after selling 627 shares during the quarter. Modera Wealth Management LLC’s holdings in Abbott Laboratories were worth $12,536,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the business’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $128.50, for a total value of $3,054,573.50. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. StockNews.com downgraded shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $135.00 price target on shares of Abbott Laboratories in a research note on Tuesday, January 21st. UBS Group increased their price objective on Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Stifel Nicolaus boosted their target price on Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Finally, Barclays reaffirmed an “overweight” rating and set a $158.00 price target (up from $149.00) on shares of Abbott Laboratories in a research note on Monday, January 27th. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.06.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $137.99 on Friday. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $138.37. The company has a market cap of $239.32 billion, a PE ratio of 18.04, a price-to-earnings-growth ratio of 2.52 and a beta of 0.75. The business’s 50 day moving average price is $123.08 and its two-hundred day moving average price is $117.83. 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 (NYSE:ABT) last posted its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.34. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The business had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $11.03 billion. During the same quarter in the prior year, the business earned $1.19 EPS. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

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

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.