Silicon Valley Capital Partners Trims Holdings in Abbott Laboratories (NYSE:ABT)

Silicon Valley Capital Partners trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT) by 16.7% in the 4th quarter, Holdings Channel reports. The firm owned 923 shares of the healthcare product maker’s stock after selling 185 shares during the quarter. Silicon Valley Capital Partners’ holdings in Abbott Laboratories were worth $104,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in ABT. Peterson Financial Group Inc. bought a new position in Abbott Laboratories in the third quarter worth about $32,000. Valued Wealth Advisors LLC increased 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 during the period. Wingate Wealth Advisors Inc. purchased a new stake in Abbott Laboratories in the 4th quarter worth approximately $34,000. Highline Wealth Partners LLC purchased a new stake in Abbott Laboratories in the 3rd quarter worth approximately $37,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of Abbott Laboratories during the 4th quarter valued at approximately $37,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $129.11 on Monday. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $132.50. The firm has a market capitalization of $223.93 billion, a P/E ratio of 16.88, a P/E/G ratio of 2.39 and a beta of 0.75. The firm’s 50-day moving average price is $117.46 and its 200-day moving average price is $115.18.

Abbott Laboratories (NYSE:ABT) last released its 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 net margin of 31.95% and a return on equity of 20.74%. The firm had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $11.03 billion. During the same period in the prior year, the firm earned $1.19 EPS. The company’s revenue was up 7.2% compared to the same quarter last year. Equities research analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a dividend of $0.59 per share. The ex-dividend date is Wednesday, January 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.83%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s dividend payout ratio (DPR) is 30.85%.

Insider Activity

In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of Abbott Laboratories stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ABT shares. Morgan Stanley raised their price objective on Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Royal Bank of Canada reissued an “outperform” rating and set a $135.00 price objective on shares of Abbott Laboratories in a research report on Tuesday, January 21st. Jefferies Financial Group raised their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. Sanford C. Bernstein lifted their price objective on Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, Evercore ISI boosted their target price on Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $133.06.

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.