Marshwinds Advisory Co. Decreases Stake in Abbott Laboratories (ABT)

Marshwinds Advisory Co. lowered its position in shares of Abbott Laboratories (NYSE:ABT) by 6.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 61,156 shares of the healthcare product maker’s stock after selling 4,418 shares during the quarter. Abbott Laboratories comprises approximately 1.6% of Marshwinds Advisory Co.’s holdings, making the stock its 21st largest holding. Marshwinds Advisory Co.’s holdings in Abbott Laboratories were worth $3,490,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of ABT. Lee Financial Co lifted its position in Abbott Laboratories by 1.7% during the 2nd quarter. Lee Financial Co now owns 3,388 shares of the healthcare product maker’s stock worth $165,000 after acquiring an additional 57 shares in the last quarter. Birmingham Capital Management Co. Inc. AL lifted its position in Abbott Laboratories by 1.8% during the 2nd quarter. Birmingham Capital Management Co. Inc. AL now owns 33,894 shares of the healthcare product maker’s stock worth $1,648,000 after acquiring an additional 600 shares in the last quarter. Bessemer Group Inc. lifted its position in Abbott Laboratories by 12.3% during the 2nd quarter. Bessemer Group Inc. now owns 55,874 shares of the healthcare product maker’s stock worth $2,716,000 after acquiring an additional 6,131 shares in the last quarter. Stewart & Patten Co. LLC lifted its position in Abbott Laboratories by 1.8% during the 2nd quarter. Stewart & Patten Co. LLC now owns 306,771 shares of the healthcare product maker’s stock worth $14,913,000 after acquiring an additional 5,571 shares in the last quarter. Finally, Grove Bank & Trust lifted its position in Abbott Laboratories by 40.4% during the 2nd quarter. Grove Bank & Trust now owns 20,442 shares of the healthcare product maker’s stock worth $993,000 after acquiring an additional 5,882 shares in the last quarter. Institutional investors and hedge funds own 71.22% of the company’s stock.

Several research firms recently commented on ABT. Argus boosted their price target on Abbott Laboratories from $66.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, January 30th. They noted that the move was a valuation call. Citigroup boosted their price target on Abbott Laboratories from $59.00 to $64.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 30th. Barclays boosted their price target on Abbott Laboratories from $66.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. Guggenheim reissued a “buy” rating and set a $72.00 price target on shares of Abbott Laboratories in a research report on Thursday, January 25th. Finally, Royal Bank of Canada reissued a “buy” rating and set a $67.00 price target on shares of Abbott Laboratories in a research report on Thursday, January 25th. Eight analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Abbott Laboratories has a consensus rating of “Buy” and a consensus target price of $65.47.

Shares of Abbott Laboratories (ABT) opened at $58.67 on Thursday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 2.69. The stock has a market capitalization of $102,451.77, a P/E ratio of 23.54, a P/E/G ratio of 1.77 and a beta of 1.55. Abbott Laboratories has a 52-week low of $42.28 and a 52-week high of $64.60.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.01. The business had revenue of $7.59 billion for the quarter, compared to analyst estimates of $7.38 billion. Abbott Laboratories had a return on equity of 13.80% and a net margin of 1.74%. The business’s revenue was up 42.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.65 EPS. research analysts predict that Abbott Laboratories will post 2.86 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be given a dividend of $0.28 per share. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Thursday, January 11th. Abbott Laboratories’s dividend payout ratio is currently 430.79%.

In related news, EVP Stephen R. Fussell sold 13,313 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $62.84, for a total transaction of $836,588.92. Following the sale, the executive vice president now directly owns 152,343 shares of the company’s stock, valued at approximately $9,573,234.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Alejandro D. Wellisch sold 2,153 shares of the company’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $55.86, for a total value of $120,266.58. Following the transaction, the insider now owns 10,256 shares of the company’s stock, valued at $572,900.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 445,615 shares of company stock worth $24,666,341. Corporate insiders own 0.76% of the company’s stock.

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Abbott Laboratories Company Profile

Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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