Abbott Laboratories (NYSE:ABT) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. cut its position in shares of Abbott Laboratories (NYSE:ABT) by 12.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 56,578 shares of the healthcare product maker’s stock after selling 8,126 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Abbott Laboratories were worth $6,228,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ABT. Vanguard Group Inc. increased its position in Abbott Laboratories by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 156,467,081 shares of the healthcare product maker’s stock worth $17,222,332,000 after purchasing an additional 701,740 shares during the last quarter. Capital Research Global Investors boosted its holdings in Abbott Laboratories by 9.5% in the fourth quarter. Capital Research Global Investors now owns 86,588,614 shares of the healthcare product maker’s stock valued at $9,530,825,000 after acquiring an additional 7,527,778 shares during the last quarter. Capital International Investors grew its position in Abbott Laboratories by 2.3% during the fourth quarter. Capital International Investors now owns 64,294,784 shares of the healthcare product maker’s stock valued at $7,077,148,000 after acquiring an additional 1,457,847 shares during the period. Wellington Management Group LLP increased its stake in Abbott Laboratories by 3.3% during the fourth quarter. Wellington Management Group LLP now owns 32,236,101 shares of the healthcare product maker’s stock worth $3,548,228,000 after acquiring an additional 1,027,390 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Abbott Laboratories by 1.5% in the 3rd quarter. Northern Trust Corp now owns 23,016,235 shares of the healthcare product maker’s stock worth $2,229,122,000 after purchasing an additional 343,559 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 0.2 %

ABT stock opened at $103.45 on Tuesday. The firm has a market cap of $179.96 billion, a price-to-earnings ratio of 32.23, a PEG ratio of 2.49 and a beta of 0.74. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64. The firm has a fifty day moving average price of $105.52 and a two-hundred day moving average price of $110.14. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.11.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. The business had revenue of $9.96 billion during the quarter, compared to the consensus estimate of $9.88 billion. During the same quarter in the prior year, the firm earned $1.03 EPS. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. Research analysts predict that Abbott Laboratories will post 4.62 EPS for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Monday, July 15th. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

Insider Activity

In other Abbott Laboratories news, EVP Lisa D. Earnhardt sold 22,852 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the transaction, the executive vice president now owns 61,462 shares of the company’s stock, valued at approximately $6,530,337.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Abbott Laboratories news, EVP Jr. Robert E. Funck sold 10,097 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $104.57, for a total value of $1,055,843.29. Following the transaction, the executive vice president now owns 211,341 shares of the company’s stock, valued at $22,099,928.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Lisa D. Earnhardt sold 22,852 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total value of $2,428,025.00. Following the sale, the executive vice president now directly owns 61,462 shares in the company, valued at $6,530,337.50. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Evercore ISI raised their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Raymond James reaffirmed a “buy” rating and set a $124.00 price target on shares of Abbott Laboratories in a research note on Wednesday, April 24th. The Goldman Sachs Group started coverage on Abbott Laboratories in a research note on Thursday, May 30th. They set a “buy” rating and a $121.00 target price for the company. Citigroup reduced their price target on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $125.00 price objective on shares of Abbott Laboratories in a report on Tuesday, June 4th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $120.64.

Abbott Laboratories 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.