Abbott Laboratories (NYSE:ABT) Position Cut by Roanoke Asset Management Corp NY

Roanoke Asset Management Corp NY lowered its position in shares of Abbott Laboratories (NYSE:ABT) by 0.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 52,840 shares of the healthcare product maker’s stock after selling 268 shares during the period. Abbott Laboratories accounts for 1.9% of Roanoke Asset Management Corp NY’s portfolio, making the stock its 17th biggest holding. Roanoke Asset Management Corp NY’s holdings in Abbott Laboratories were worth $5,977,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Groupama Asset Managment grew its position in Abbott Laboratories by 22.2% in the 3rd quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after purchasing an additional 41,557 shares during the last quarter. Peterson Financial Group Inc. acquired a new position in shares of Abbott Laboratories during the third quarter worth approximately $32,000. Valued Wealth Advisors LLC grew its holdings in Abbott Laboratories by 78.4% in the 3rd quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after buying an additional 127 shares in the last quarter. Wingate Wealth Advisors Inc. acquired a new stake in Abbott Laboratories in the 4th quarter valued at approximately $34,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in Abbott Laboratories during the 4th quarter worth $37,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Evercore ISI raised their price target on Abbott Laboratories to $136.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. Stifel Nicolaus raised their target price 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. Wells Fargo & Company boosted their price target on shares of Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Barclays reiterated 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. Finally, Argus raised Abbott Laboratories to a “strong-buy” rating in a research note on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Abbott Laboratories currently has an average rating of “Moderate Buy” and an average target price of $133.06.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories 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 transaction of $3,054,573.50. Following the transaction, the executive vice president now owns 125,697 shares of the company’s stock, valued at $16,152,064.50. The trade was a 15.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.10% of the company’s stock.

Abbott Laboratories Stock Up 1.6 %

Shares of Abbott Laboratories stock opened at $137.99 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 12-month low of $99.71 and a 12-month high of $138.37. The firm has a market capitalization 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 stock’s fifty day moving average is $123.08 and its 200-day moving average is $117.77.

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

Abbott Laboratories Dividend Announcement

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

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.