Dynamic Advisor Solutions LLC lowered its holdings in Abbott Laboratories (NYSE:ABT – Free Report) by 33.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 29,885 shares of the healthcare product maker’s stock after selling 15,282 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Abbott Laboratories were worth $3,744,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the business. Cloud Capital Management LLC bought a new position in shares of Abbott Laboratories in the third quarter valued at about $29,000. Guerra Advisors Inc bought a new stake in Abbott Laboratories during the 3rd quarter worth about $31,000. Delos Wealth Advisors LLC acquired a new stake in Abbott Laboratories in the 2nd quarter valued at about $32,000. Bridge Generations Wealth Management LLC acquired a new stake in Abbott Laboratories in the 3rd quarter valued at about $33,000. Finally, Copia Wealth Management bought a new position in shares of Abbott Laboratories in the third quarter worth about $38,000. Institutional investors own 75.18% of the company’s stock.
Abbott Laboratories Trading Down 0.6%
ABT opened at $104.87 on Tuesday. The firm has a 50 day simple moving average of $112.36 and a 200 day simple moving average of $122.77. Abbott Laboratories has a fifty-two week low of $104.10 and a fifty-two week high of $139.06. The company has a market cap of $182.65 billion, a price-to-earnings ratio of 28.19, a price-to-earnings-growth ratio of 1.68 and a beta of 0.74. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.58 and a quick ratio of 1.18.
Abbott Laboratories Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Wednesday, April 15th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Wednesday, April 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.4%. Abbott Laboratories’s payout ratio is 67.74%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on the stock. Daiwa Securities Group reduced their target price on shares of Abbott Laboratories from $136.00 to $113.00 and set an “outperform” rating on the stock in a research report on Friday, January 30th. Weiss Ratings cut shares of Abbott Laboratories from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 26th. Citigroup reduced their price objective on Abbott Laboratories from $140.00 to $136.00 and set a “buy” rating on the stock in a report on Wednesday, March 11th. Piper Sandler decreased their price objective on Abbott Laboratories from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday, January 23rd. Finally, Sanford C. Bernstein lowered their target price on Abbott Laboratories from $154.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, January 23rd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus price target of $136.16.
Insiders Place Their Bets
In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 885 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $115.58, for a total value of $102,288.30. Following the transaction, the executive vice president owned 146,377 shares of the company’s stock, valued at approximately $16,918,253.66. This represents a 0.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Elizabeth C. Cushman sold 263 shares of the firm’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $115.58, for a total value of $30,397.54. Following the transaction, the executive vice president owned 38,573 shares in the company, valued at approximately $4,458,267.34. This trade represents a 0.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,055 shares of company stock valued at $353,097 in the last ninety days. 0.46% of the stock is currently owned by insiders.
About Abbott Laboratories
Abbott Laboratories is a global healthcare company headquartered in Abbott Park, Illinois, that develops, manufactures and markets a broad portfolio of medical products and services. Founded in 1888, Abbott operates through multiple business areas that focus on diagnostics, medical devices, nutritionals and established pharmaceuticals. The company supplies hospitals, clinics, laboratories, retailers and direct-to-consumer channels with products intended to diagnose, treat and manage a wide range of health conditions.
In diagnostics, Abbott provides laboratory and point-of-care testing platforms and assays used to detect infectious diseases, chronic conditions and biomarkers; its Alinity family of instruments and rapid-test solutions are examples of this capability.
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