Worth Financial Advisory Group LLC Sells 230 Shares of Abbott Laboratories (NYSE:ABT)

Worth Financial Advisory Group LLC decreased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 3.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,159 shares of the healthcare product maker’s stock after selling 230 shares during the period. Worth Financial Advisory Group LLC’s holdings in Abbott Laboratories were worth $697,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Noble Wealth Management PBC purchased a new position in Abbott Laboratories during the fourth quarter valued at $26,000. NewSquare Capital LLC raised its position in shares of Abbott Laboratories by 78.4% in the 4th quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker’s stock worth $27,000 after purchasing an additional 105 shares during the last quarter. Rialto Wealth Management LLC bought a new position in Abbott Laboratories in the 4th quarter worth about $29,000. Wingate Wealth Advisors Inc. purchased a new stake in Abbott Laboratories during the 4th quarter valued at about $34,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in Abbott Laboratories in the fourth quarter worth about $37,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Price Performance

Shares of Abbott Laboratories stock opened at $126.46 on Thursday. The stock’s fifty day moving average is $129.35 and its 200 day moving average is $120.16. Abbott Laboratories has a one year low of $99.71 and a one year high of $141.23. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The stock has a market cap of $219.31 billion, a P/E ratio of 16.53, a P/E/G ratio of 2.52 and a beta of 0.70.

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

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 30.85%.

Insider Buying and Selling

In related news, EVP Andrea F. Wainer sold 949 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $138.17, for a total transaction of $131,123.33. Following the completion of the transaction, the executive vice president now directly owns 74,381 shares of the company’s stock, valued at approximately $10,277,222.77. This trade represents a 1.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the business’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the completion of the sale, the executive vice president now owns 125,697 shares in the company, valued at approximately $16,152,064.50. The trade was a 15.90 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 116,449 shares of company stock valued at $15,463,316. Company insiders own 0.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. UBS Group raised their price target on shares of Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. StockNews.com lowered Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Argus raised Abbott Laboratories to a “strong-buy” rating in a report on Tuesday, January 28th. Royal Bank of Canada reiterated an “outperform” rating and issued a $135.00 price objective on shares of Abbott Laboratories in a report on Tuesday, January 21st. Finally, Barclays restated an “overweight” rating and set a $158.00 target price (up previously from $149.00) on shares of Abbott Laboratories in a research note on Monday, January 27th. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $137.94.

Abbott Laboratories Company Profile

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.