Abbott Laboratories (NYSE:ABT) Shares Sold by Tanager Wealth Management LLP

Tanager Wealth Management LLP decreased its holdings in Abbott Laboratories (NYSE:ABT) by 18.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,568 shares of the healthcare product maker’s stock after selling 575 shares during the quarter. Tanager Wealth Management LLP’s holdings in Abbott Laboratories were worth $283,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ABT. Moneta Group Investment Advisors LLC raised its holdings in shares of Abbott Laboratories by 104,649.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 30,247,436 shares of the healthcare product maker’s stock worth $3,320,866,000 after purchasing an additional 30,218,560 shares during the period. Norges Bank acquired a new stake in Abbott Laboratories during the fourth quarter worth about $1,893,715,000. Morgan Stanley lifted its holdings in Abbott Laboratories by 14.3% in the fourth quarter. Morgan Stanley now owns 38,966,499 shares of the healthcare product maker’s stock worth $4,278,132,000 after acquiring an additional 4,886,954 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Abbott Laboratories by 83.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 4,925,012 shares of the healthcare product maker’s stock valued at $582,924,000 after acquiring an additional 2,235,314 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in shares of Abbott Laboratories by 99.8% during the first quarter. Renaissance Technologies LLC now owns 3,140,866 shares of the healthcare product maker’s stock valued at $371,753,000 after purchasing an additional 1,568,700 shares during the last quarter. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Price Performance

Abbott Laboratories stock traded up $2.02 during trading hours on Friday, hitting $107.29. 10,525,210 shares of the company traded hands, compared to its average volume of 5,763,002. The firm has a market cap of $186.17 billion, a P/E ratio of 33.42, a P/E/G ratio of 2.55 and a beta of 0.74. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.35. The firm’s 50-day simple moving average is $114.28 and its two-hundred day simple moving average is $107.57. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.02. The company had revenue of $9.96 billion for the quarter, compared to analysts’ expectations of $9.88 billion. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.32%. The business’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 EPS. As a group, analysts forecast that Abbott Laboratories will post 4.61 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend is Friday, April 12th. Abbott Laboratories’s dividend payout ratio is 68.54%.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 963 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $114,115.50. Following the sale, the executive vice president now owns 125,697 shares in the company, valued at approximately $14,895,094.50. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Andrea F. Wainer sold 42,500 shares of Abbott Laboratories stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $112.50, for a total value of $4,781,250.00. Following the transaction, the executive vice president now directly owns 65,027 shares of the company’s stock, valued at $7,315,537.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Daniel Gesua Sive Salvadori sold 963 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $118.50, for a total transaction of $114,115.50. Following the transaction, the executive vice president now directly owns 125,697 shares in the company, valued at $14,895,094.50. The disclosure for this sale can be found here. Insiders sold 56,435 shares of company stock worth $6,451,298 in the last quarter. 1.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ABT shares. Raymond James boosted their price objective on Abbott Laboratories from $124.00 to $127.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Evercore ISI upped their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Barclays increased their price objective on shares of Abbott Laboratories from $133.00 to $141.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. TheStreet raised shares of Abbott Laboratories from a “c+” rating to a “b-” rating in a report on Thursday, December 21st. Finally, Citigroup increased their price objective on shares of Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $121.31.

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.