Valley Brook Capital Group Inc. Sells 550 Shares of Abbott Laboratories (NYSE:ABT)

Valley Brook Capital Group Inc. reduced its stake in Abbott Laboratories (NYSE:ABT) by 4.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,562 shares of the healthcare product maker’s stock after selling 550 shares during the period. Abbott Laboratories makes up about 1.2% of Valley Brook Capital Group Inc.’s holdings, making the stock its 25th largest holding. Valley Brook Capital Group Inc.’s holdings in Abbott Laboratories were worth $1,383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in ABT. Signature Resources Capital Management LLC bought a new position in shares of Abbott Laboratories in the fourth quarter worth approximately $29,000. Rise Advisors LLC purchased a new stake in Abbott Laboratories during the fourth quarter valued at about $37,000. Stuart Chaussee & Associates Inc. grew its stake in shares of Abbott Laboratories by 236.0% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 336 shares of the healthcare product maker’s stock valued at $37,000 after buying an additional 236 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in shares of Abbott Laboratories in the third quarter worth about $40,000. Finally, Cornerstone Planning Group LLC boosted its holdings in Abbott Laboratories by 79.4% during the 3rd quarter. Cornerstone Planning Group LLC now owns 454 shares of the healthcare product maker’s stock valued at $44,000 after acquiring an additional 201 shares during the period. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Stock Down 0.0 %

Shares of NYSE:ABT traded down $0.02 during trading on Friday, hitting $105.90. The stock had a trading volume of 3,610,492 shares, compared to its average volume of 5,320,693. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.35. Abbott Laboratories has a 12 month low of $89.67 and a 12 month high of $121.64. The company has a market capitalization of $183.76 billion, a PE ratio of 32.99, a PEG ratio of 2.55 and a beta of 0.76. The firm’s fifty day moving average is $112.52 and its 200 day moving average is $108.71.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, beating the consensus estimate of $0.96 by $0.02. The business had revenue of $9.96 billion during the quarter, compared to analyst estimates of $9.88 billion. Abbott Laboratories had a return on equity of 20.32% and a net margin of 13.96%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.03 earnings per share. Analysts anticipate that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Friday, April 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Insider Buying and Selling at Abbott Laboratories

In other news, EVP Daniel Gesua Sive Salvadori sold 963 shares of Abbott Laboratories stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $118.50, for a total value of $114,115.50. Following the completion of the transaction, the executive vice president now owns 125,697 shares of the company’s stock, valued at approximately $14,895,094.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, VP John A. Jr. Mccoy sold 472 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $55,932.00. Following the sale, the vice president now directly owns 18,760 shares of the company’s stock, valued at $2,223,060. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $114,115.50. Following the completion of the transaction, the executive vice president now directly owns 125,697 shares of the company’s stock, valued at approximately $14,895,094.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,935 shares of company stock worth $1,670,048. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ABT. Evercore ISI boosted their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Barclays dropped their price target on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a research report on Monday, April 22nd. Citigroup upped their price objective on shares of Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Royal Bank of Canada cut their target price on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating on the stock in a research note on Thursday, April 18th. Finally, Raymond James reaffirmed a “buy” rating and set a $124.00 price target on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $121.50.

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.