Rise Advisors LLC Trims Stock Position in Abbott Laboratories (NYSE:ABT)

Rise Advisors LLC lowered its stake in shares of Abbott Laboratories (NYSE:ABT) by 8.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,151 shares of the healthcare product maker’s stock after selling 101 shares during the quarter. Rise Advisors LLC’s holdings in Abbott Laboratories were worth $130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of ABT. Insight Folios Inc grew its stake in Abbott Laboratories by 3.3% in the third quarter. Insight Folios Inc now owns 2,691 shares of the healthcare product maker’s stock worth $307,000 after purchasing an additional 87 shares during the period. Sfmg LLC increased its stake in shares of Abbott Laboratories by 1.9% in the 3rd quarter. Sfmg LLC now owns 4,622 shares of the healthcare product maker’s stock worth $527,000 after acquiring an additional 88 shares in the last quarter. Boltwood Capital Management boosted its stake in Abbott Laboratories by 0.4% during the third quarter. Boltwood Capital Management now owns 21,821 shares of the healthcare product maker’s stock worth $2,488,000 after acquiring an additional 89 shares in the last quarter. Wedge Capital Management L L P NC lifted its holdings in shares of Abbott Laboratories by 2.9% during the third quarter. Wedge Capital Management L L P NC now owns 3,153 shares of the healthcare product maker’s stock valued at $359,000 after purchasing an additional 89 shares during the last quarter. Finally, Silicon Valley Capital Partners grew its stake in shares of Abbott Laboratories by 8.7% in the 3rd quarter. Silicon Valley Capital Partners now owns 1,108 shares of the healthcare product maker’s stock worth $126,000 after buying an additional 89 shares during the last quarter. 75.18% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ABT. Raymond James reaffirmed a “buy” rating and issued a $129.00 price target (up previously from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Sanford C. Bernstein increased their price target on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Morgan Stanley upped their price objective on Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. UBS Group boosted their price target on Abbott Laboratories from $143.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Finally, Mizuho lifted their price objective on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.57.

Abbott Laboratories Price Performance

ABT traded up $0.75 during trading on Tuesday, reaching $113.79. 2,620,843 shares of the company traded hands, compared to its average volume of 4,148,290. Abbott Laboratories has a 12-month low of $99.71 and a 12-month high of $121.64. The firm has a fifty day simple moving average of $115.44 and a 200 day simple moving average of $112.31. 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 company has a market cap of $197.36 billion, a P/E ratio of 34.59, a PEG ratio of 2.69 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, topping the consensus estimate of $1.20 by $0.01. The business had revenue of $10.64 billion for the quarter, compared to analysts’ expectations of $10.55 billion. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.18%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.14 EPS. On average, equities analysts forecast that Abbott Laboratories will post 4.67 EPS for the current year.

Abbott Laboratories Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend is Wednesday, January 15th. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s payout ratio is currently 71.73%.

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.