Abbott Laboratories (NYSE:ABT) Shares Sold by Aster Capital Management DIFC Ltd

Aster Capital Management DIFC Ltd lessened its holdings in Abbott Laboratories (NYSE:ABT) by 89.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 929 shares of the healthcare product maker’s stock after selling 7,755 shares during the period. Aster Capital Management DIFC Ltd’s holdings in Abbott Laboratories were worth $105,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Groupama Asset Managment raised its stake in Abbott Laboratories by 22.2% during the third quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after acquiring an additional 41,557 shares during the period. Noble Wealth Management PBC bought a new position in shares of Abbott Laboratories during the fourth quarter valued at approximately $26,000. NewSquare Capital LLC raised its position in shares of Abbott Laboratories by 78.4% during 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 period. WealthTrak Capital Management LLC acquired a new position in Abbott Laboratories during the 4th quarter valued at approximately $28,000. Finally, Rialto Wealth Management LLC acquired a new position in Abbott Laboratories during the 4th quarter valued at approximately $29,000. Institutional investors own 75.18% of the company’s stock.

Insider Activity at Abbott Laboratories

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $128.50, for a total value 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. This represents a 15.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lisa D. Earnhardt sold 91,167 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $133.82, for a total transaction of $12,199,967.94. Following the transaction, the executive vice president now owns 71,928 shares in the company, valued at approximately $9,625,404.96. The trade was a 55.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 116,449 shares of company stock worth $15,463,316 in the last quarter. 0.46% of the stock is owned by company insiders.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $123.63 on Wednesday. The company has a 50-day moving average of $130.93 and a 200-day moving average of $121.04. The firm has a market cap of $214.41 billion, a price-to-earnings ratio of 16.16, a price-to-earnings-growth ratio of 2.52 and a beta of 0.80. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $141.23.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.34. The firm had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $11.03 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the firm posted $1.19 earnings per share. Analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Tuesday, April 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 30.85%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Bank of America boosted their price target on shares of Abbott Laboratories from $133.00 to $150.00 and gave the company a “buy” rating in a report on Monday, March 10th. UBS Group upped their target price on shares of Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $135.00 price target on shares of Abbott Laboratories in a report on Tuesday, January 21st. Wells Fargo & Company increased their price objective on Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Finally, Stifel Nicolaus lifted their target price on Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.