Carlson Capital Management Cuts Stake in Abbott Laboratories (NYSE:ABT)

Carlson Capital Management decreased its holdings in Abbott Laboratories (NYSE:ABT) by 76.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,977 shares of the healthcare product maker’s stock after selling 6,265 shares during the period. Carlson Capital Management’s holdings in Abbott Laboratories were worth $224,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Noble Wealth Management PBC purchased a new stake in shares of Abbott Laboratories in the 4th quarter valued at $26,000. NewSquare Capital LLC raised its holdings in Abbott Laboratories by 78.4% during the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock valued at $27,000 after buying an additional 105 shares during the last quarter. Rialto Wealth Management LLC bought a new stake in Abbott Laboratories during the 4th quarter valued at $29,000. Wingate Wealth Advisors Inc. bought a new stake in Abbott Laboratories during the 4th quarter valued at $34,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in Abbott Laboratories during the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insider Activity

In other news, EVP Andrea F. Wainer sold 949 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $138.17, for a total transaction of $131,123.33. Following the sale, the executive vice president now owns 74,381 shares of the company’s stock, valued at $10,277,222.77. This trade represents a 1.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Lisa D. Earnhardt sold 91,167 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $133.82, for a total transaction of $12,199,967.94. Following the sale, the executive vice president now directly owns 71,928 shares in the company, valued at approximately $9,625,404.96. The trade was a 55.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 116,449 shares of company stock valued at $15,463,316 in the last 90 days. 1.10% of the stock is currently owned by insiders.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $127.54 on Tuesday. Abbott Laboratories has a one year low of $99.71 and a one year high of $141.23. The company’s 50-day moving average is $127.45 and its 200 day moving average is $119.58. The company has a market capitalization of $221.19 billion, a price-to-earnings ratio of 16.67, a price-to-earnings-growth ratio of 2.52 and a beta of 0.70. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, meeting the consensus estimate of $1.34. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The company had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $11.03 billion. During the same period in the prior year, the firm posted $1.19 EPS. Abbott Laboratories’s revenue for the quarter was up 7.2% on a year-over-year basis. Sell-side analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories’s payout ratio is presently 30.85%.

Analyst Ratings Changes

A number of equities research analysts recently commented on ABT shares. The Goldman Sachs Group upped their price target on shares of Abbott Laboratories from $138.00 to $154.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Citigroup upped their price target on shares of Abbott Laboratories from $135.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Bank of America upped their price objective on shares of Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Wells Fargo & Company upped their price objective on shares of Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Finally, StockNews.com lowered shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and an average price target of $137.94.

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.