Carderock Capital Management Inc. cut its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,104 shares of the healthcare product maker’s stock after selling 849 shares during the period. Abbott Laboratories accounts for about 2.1% of Carderock Capital Management Inc.’s portfolio, making the stock its 21st biggest position. Carderock Capital Management Inc.’s holdings in Abbott Laboratories were worth $4,585,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently bought and sold shares of the company. Firestone Capital Management bought a new position in shares of Abbott Laboratories during the 4th quarter valued at approximately $68,000. Benjamin Edwards Inc. increased its position in Abbott Laboratories by 57.0% during the first quarter. Benjamin Edwards Inc. now owns 314 shares of the healthcare product maker’s stock valued at $25,000 after acquiring an additional 114 shares during the last quarter. Larson Financial Group LLC raised its stake in shares of Abbott Laboratories by 374.3% in the first quarter. Larson Financial Group LLC now owns 351 shares of the healthcare product maker’s stock valued at $28,000 after acquiring an additional 277 shares during the period. Howard Wealth Management LLC bought a new stake in shares of Abbott Laboratories in the 4th quarter worth about $32,000. Finally, Lion Street Advisors LLC purchased a new position in shares of Abbott Laboratories during the 1st quarter worth about $31,000. 74.89% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE ABT traded up $0.21 during midday trading on Friday, reaching $90.60. 2,723,230 shares of the company’s stock traded hands, compared to its average volume of 7,722,559. The company has a market cap of $159.36 billion, a price-to-earnings ratio of 45.30, a P/E/G ratio of 3.74 and a beta of 0.98. The stock’s 50 day simple moving average is $89.78 and its 200-day simple moving average is $85.71. The company has a quick ratio of 1.01, a current ratio of 1.43 and a debt-to-equity ratio of 0.55. Abbott Laboratories has a one year low of $61.61 and a one year high of $100.00.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 8th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.35%. Abbott Laboratories’s payout ratio is currently 44.44%.
Several analysts have issued reports on the stock. Stifel Nicolaus raised their price objective on shares of Abbott Laboratories from $85.00 to $108.00 in a research note on Friday, April 17th. UBS Group boosted their price objective on Abbott Laboratories from $105.00 to $109.00 and gave the company a “buy” rating in a report on Friday, April 17th. Cfra increased their target price on Abbott Laboratories from $99.00 to $101.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. JPMorgan Chase & Co. boosted their target price on shares of Abbott Laboratories from $88.00 to $98.00 and gave the company an “overweight” rating in a research note on Friday, April 17th. Finally, Citigroup raised their price target on shares of Abbott Laboratories from $87.00 to $109.00 and gave the stock a “buy” rating in a research note on Friday, April 17th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $99.47.
In other Abbott Laboratories news, VP Philip P. Boudreau sold 10,600 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $82.00, for a total value of $869,200.00. Following the completion of the sale, the vice president now directly owns 22,463 shares in the company, valued at $1,841,966. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Christopher J. Scoggins sold 414 shares of Abbott Laboratories stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $96.10, for a total transaction of $39,785.40. Following the completion of the transaction, the senior vice president now directly owns 39,706 shares in the company, valued at $3,815,746.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 166,186 shares of company stock worth $15,359,524. 1.70% of the stock is owned by corporate insiders.
About Abbott Laboratories
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.
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