Blue Barn Wealth LLC Sells 159 Shares of Abbott Laboratories (NYSE:ABT)

Blue Barn Wealth LLC reduced its stake in shares of Abbott Laboratories (NYSE:ABT) by 4.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,223 shares of the healthcare product maker’s stock after selling 159 shares during the period. Blue Barn Wealth LLC’s holdings in Abbott Laboratories were worth $365,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Noble Wealth Management PBC bought a new stake in Abbott Laboratories in the 4th quarter worth about $26,000. NewSquare Capital LLC grew its holdings in shares of Abbott Laboratories by 78.4% in the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock valued at $27,000 after acquiring an additional 105 shares in the last quarter. Peterson Financial Group Inc. purchased a new stake in shares of Abbott Laboratories during the third quarter valued at approximately $32,000. Wingate Wealth Advisors Inc. bought a new stake in Abbott Laboratories during the fourth quarter worth $34,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in Abbott Laboratories in the fourth quarter worth $37,000. Institutional investors own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ABT. Citigroup lifted their target price on Abbott Laboratories from $135.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday. Wells Fargo & Company boosted their target price on shares of Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. StockNews.com lowered shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Barclays reiterated an “overweight” rating and issued 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 report on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $137.19.

Abbott Laboratories Trading Up 0.1 %

Shares of Abbott Laboratories stock opened at $137.68 on Thursday. The company’s 50-day moving average price is $124.51 and its 200-day moving average price is $118.42. The company has a market cap of $238.79 billion, a price-to-earnings ratio of 18.00, a PEG ratio of 2.52 and a beta of 0.75. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $141.23. 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 (NYSE:ABT) last announced its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, meeting the consensus estimate of $1.34. The firm had revenue of $10.97 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the firm earned $1.19 EPS. On average, equities analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm 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 dividend yield of 1.71%. Abbott Laboratories’s payout ratio is currently 30.85%.

Insider Activity

In related news, EVP Andrea F. Wainer sold 949 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $138.17, for a total value of $131,123.33. Following the sale, the executive vice president now directly owns 74,381 shares of the company’s stock, valued at $10,277,222.77. This trade represents a 1.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Eric Shroff sold 562 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $138.17, for a total transaction of $77,651.54. Following the completion of the transaction, the senior vice president now directly owns 31,970 shares of the company’s stock, valued at approximately $4,417,294.90. This represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,282 shares of company stock worth $3,263,348. 1.10% of the stock is currently owned by insiders.

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.