Abbott Laboratories (NYSE:ABT) Shares Sold by Argus Investors Counsel Inc.

Argus Investors Counsel Inc. lowered its stake in shares of Abbott Laboratories (NYSE:ABTFree Report) by 4.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,267 shares of the healthcare product maker’s stock after selling 627 shares during the period. Argus Investors Counsel Inc.’s holdings in Abbott Laboratories were worth $1,350,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Halpern Financial Inc. purchased a new stake in shares of Abbott Laboratories in the 3rd quarter valued at $26,000. Altshuler Shaham Ltd purchased a new stake in Abbott Laboratories during the 4th quarter worth about $28,000. Cornerstone Planning Group LLC purchased a new position in shares of Abbott Laboratories in the 2nd quarter valued at about $28,000. CGC Financial Services LLC purchased a new position in shares of Abbott Laboratories in the 2nd quarter valued at about $32,000. Finally, FWL Investment Management LLC purchased a new position in shares of Abbott Laboratories in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 42,500 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $112.50, for a total transaction of $4,781,250.00. Following the completion of the sale, the executive vice president now owns 65,027 shares in the company, valued at approximately $7,315,537.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Andrea F. Wainer sold 42,500 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $112.50, for a total value of $4,781,250.00. Following the completion of the transaction, the executive vice president now directly owns 65,027 shares of the company’s stock, valued at approximately $7,315,537.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Andrea F. Wainer sold 12,500 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the transaction, the executive vice president now owns 78,704 shares of the company’s stock, valued at $9,444,480. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,435 shares of company stock worth $6,451,298. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ABT. Wells Fargo & Company upped their target price on Abbott Laboratories from $116.00 to $121.00 and gave the company an “overweight” rating in a research report on Wednesday, December 13th. Royal Bank of Canada reissued an “outperform” rating and set a $128.00 target price on shares of Abbott Laboratories in a research note on Wednesday, February 14th. Citigroup raised their price objective on Abbott Laboratories from $123.00 to $126.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Raymond James raised their price objective on Abbott Laboratories from $124.00 to $127.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Finally, Barclays raised their price target on Abbott Laboratories from $133.00 to $141.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus target price of $121.77.

View Our Latest Stock Report on Abbott Laboratories

Abbott Laboratories Stock Up 0.2 %

NYSE ABT opened at $113.66 on Monday. The company has a current ratio of 1.64, a quick ratio of 1.16 and a debt-to-equity ratio of 0.35. The stock’s 50 day moving average is $115.10 and its two-hundred day moving average is $106.58. The company has a market capitalization of $197.22 billion, a price-to-earnings ratio of 34.87, a PEG ratio of 2.74 and a beta of 0.75. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64.

Abbott Laboratories (NYSE:ABTGet Free Report) last announced its earnings results on Wednesday, January 24th. The healthcare product maker reported $1.19 EPS for the quarter, hitting the consensus estimate of $1.19. The business had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $10.19 billion. Abbott Laboratories had a return on equity of 20.65% and a net margin of 14.27%. Abbott Laboratories’s revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.03 EPS. Equities analysts forecast that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Friday, April 12th. Abbott Laboratories’s dividend payout ratio is 67.48%.

About Abbott Laboratories

(Free Report)

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.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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