Abbott Laboratories (NYSE:ABT) Shares Sold by Carret Asset Management LLC

Carret Asset Management LLC cut its holdings in shares of Abbott Laboratories (NYSE:ABT – Get Rating) by 0.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 54,424 shares of the healthcare product maker’s stock after selling 109 shares during the period. Abbott Laboratories comprises approximately 0.8% of Carret Asset Management LLC’s investment portfolio, making the stock its 27th biggest holding. Carret Asset Management LLC’s holdings in Abbott Laboratories were worth $5,975,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Insight Inv LLC acquired a new position in Abbott Laboratories during the second quarter valued at $26,000. EdgeRock Capital LLC acquired a new position in Abbott Laboratories during the third quarter valued at $29,000. Newbridge Financial Services Group Inc. lifted its position in Abbott Laboratories by 148.4% during the third quarter. Newbridge Financial Services Group Inc. now owns 477 shares of the healthcare product maker’s stock valued at $46,000 after purchasing an additional 285 shares during the period. Vienna Asset Management LLC acquired a new position in Abbott Laboratories during the third quarter valued at $51,000. Finally, Johnson Midwest Financial LLC lifted its position in Abbott Laboratories by 28.7% during the third quarter. Johnson Midwest Financial LLC now owns 560 shares of the healthcare product maker’s stock valued at $35,000 after purchasing an additional 125 shares during the period. 72.93% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Stock Down 2.0 %

Shares of NYSE ABT opened at $97.01 on Friday. Abbott Laboratories has a 12-month low of $93.25 and a 12-month high of $124.36. The stock has a market cap of $168.60 billion, a PE ratio of 24.81, a P/E/G ratio of 4.42 and a beta of 0.68. The company has a current ratio of 1.63, a quick ratio of 1.23 and a debt-to-equity ratio of 0.39. The company has a 50-day moving average of $106.80 and a 200 day moving average of $104.86.

Abbott Laboratories (NYSE:ABT – Get Rating) last announced its quarterly earnings data on Wednesday, January 25th. The healthcare product maker reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.13. Abbott Laboratories had a net margin of 15.88% and a return on equity of 26.09%. The company had revenue of $10.09 billion during the quarter, compared to analysts’ expectations of $9.69 billion. During the same quarter in the prior year, the company earned $1.32 EPS. Abbott Laboratories’s revenue was down 12.0% compared to the same quarter last year. As a group, sell-side analysts predict that Abbott Laboratories will post 4.38 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 15th. Investors of record on Friday, April 14th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Thursday, April 13th. This represents a $2.04 annualized dividend and a yield of 2.10%. Abbott Laboratories’s dividend payout ratio is presently 52.17%.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, SVP Julie L. Tyler sold 260 shares of the business’s stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $103.24, for a total value of $26,842.40. Following the transaction, the senior vice president now directly owns 40,896 shares in the company, valued at approximately $4,222,103.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Abbott Laboratories news, EVP Andrea F. Wainer sold 679 shares of the business’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $100.70, for a total value of $68,375.30. Following the transaction, the executive vice president now directly owns 70,427 shares in the company, valued at approximately $7,091,998.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Julie L. Tyler sold 260 shares of the business’s stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $103.24, for a total transaction of $26,842.40. Following the completion of the transaction, the senior vice president now owns 40,896 shares in the company, valued at $4,222,103.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,971 shares of company stock valued at $199,140. Corporate insiders own 0.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ABT. Barclays upped their price objective on shares of Abbott Laboratories from $122.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, January 27th. Citigroup upped their price objective on shares of Abbott Laboratories from $114.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, December 12th. Morgan Stanley upped their price objective on shares of Abbott Laboratories from $117.00 to $133.00 and gave the stock an “overweight” rating in a research report on Friday, January 6th. Raymond James upped their price objective on shares of Abbott Laboratories from $109.00 to $123.00 and gave the stock an “outperform” rating in a research report on Thursday, January 26th. Finally, Sanford C. Bernstein upped their price objective on shares of Abbott Laboratories from $125.00 to $132.00 and gave the stock an “outperform” rating in a research report on Thursday, January 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $124.67.

Abbott Laboratories Profile

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Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following business segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The Established Pharmaceutical Products segment refers to the international sales of a line of branded generic pharmaceutical products.