Modus Advisors LLC cut its position in Abbott Laboratories (NYSE:ABT) by 1.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,135 shares of the healthcare product maker’s stock after selling 217 shares during the quarter. Modus Advisors LLC’s holdings in Abbott Laboratories were worth $1,454,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Atlas Private Wealth Advisors raised its holdings in shares of Abbott Laboratories by 107.3% during the 4th quarter. Atlas Private Wealth Advisors now owns 228 shares of the healthcare product maker’s stock worth $25,000 after buying an additional 118 shares in the last quarter. Inspire Advisors LLC acquired a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $29,000. Black Swift Group LLC acquired a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $35,000. Krane Funds Advisors LLC acquired a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $39,000. Finally, PrairieView Partners LLC acquired a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $41,000. Hedge funds and other institutional investors own 72.58% of the company’s stock.
NYSE:ABT traded up $0.65 during trading hours on Thursday, hitting $120.76. 24,988 shares of the company’s stock traded hands, compared to its average volume of 5,249,639. The firm has a market cap of $213.93 billion, a P/E ratio of 63.55, a P/E/G ratio of 2.06 and a beta of 0.83. Abbott Laboratories has a 52 week low of $81.05 and a 52 week high of $128.54. The business’s fifty day simple moving average is $119.99 and its two-hundred day simple moving average is $113.19. The company has a quick ratio of 1.19, a current ratio of 1.70 and a debt-to-equity ratio of 0.58.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 17th. Investors of record on Thursday, April 15th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.49%. The ex-dividend date is Wednesday, April 14th. Abbott Laboratories’s dividend payout ratio is 55.56%.
In related news, SVP Joseph J. Manning sold 18,750 shares of Abbott Laboratories stock in a transaction on Monday, February 1st. The stock was sold at an average price of $122.79, for a total transaction of $2,302,312.50. Following the completion of the sale, the senior vice president now owns 81,561 shares of the company’s stock, valued at $10,014,875.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Mary K. Moreland sold 505 shares of Abbott Laboratories stock in a transaction dated Tuesday, February 16th. The stock was sold at an average price of $128.49, for a total value of $64,887.45. Following the sale, the executive vice president now directly owns 63,878 shares of the company’s stock, valued at approximately $8,207,684.22. The disclosure for this sale can be found here. Insiders have sold 27,476 shares of company stock valued at $3,366,543 in the last three months. 1.70% of the stock is owned by corporate insiders.
ABT has been the topic of several research analyst reports. Morgan Stanley upped their target price on Abbott Laboratories from $126.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, January 28th. Cowen increased their price objective on Abbott Laboratories from $113.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, January 28th. Raymond James increased their price target on Abbott Laboratories from $126.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, March 17th. Zacks Investment Research raised Abbott Laboratories from a “hold” rating to a “buy” rating and set a $130.00 target price for the company in a research report on Tuesday, February 2nd. Finally, BTIG Research raised Abbott Laboratories from a “neutral” rating to a “buy” rating and set a $140.00 target price for the company in a research report on Thursday, January 28th. One research analyst has rated the stock with a sell rating, one has given a hold rating and sixteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $122.47.
Abbott Laboratories Company Profile
Abbott Laboratories 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 Established Pharmaceutical Products segment 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, MÃ©niÃ¨re'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.
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