Lyell Wealth Management LP Has $6.09 Million Holdings in Abbott Laboratories (NYSE:ABT)

Lyell Wealth Management LP lessened its stake in Abbott Laboratories (NYSE:ABT) by 7.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,358 shares of the healthcare product maker’s stock after selling 4,635 shares during the quarter. Lyell Wealth Management LP’s holdings in Abbott Laboratories were worth $6,093,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Zevenbergen Capital Investments LLC increased its position in Abbott Laboratories by 0.6% in the 3rd quarter. Zevenbergen Capital Investments LLC now owns 21,419 shares of the healthcare product maker’s stock valued at $2,074,000 after acquiring an additional 130 shares in the last quarter. Perigon Wealth Management LLC grew its position in shares of Abbott Laboratories by 5.2% during the 4th quarter. Perigon Wealth Management LLC now owns 47,080 shares of the healthcare product maker’s stock worth $5,182,000 after buying an additional 2,317 shares during the period. Rockland Trust Co. boosted its stake in Abbott Laboratories by 1.5% during the 3rd quarter. Rockland Trust Co. now owns 91,868 shares of the healthcare product maker’s stock worth $8,897,000 after acquiring an additional 1,343 shares during the last quarter. VisionPoint Advisory Group LLC boosted its stake in Abbott Laboratories by 7.4% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 3,106 shares of the healthcare product maker’s stock worth $301,000 after acquiring an additional 215 shares during the last quarter. Finally, Gradient Investments LLC boosted its stake in Abbott Laboratories by 4.7% during the 4th quarter. Gradient Investments LLC now owns 257,508 shares of the healthcare product maker’s stock worth $28,344,000 after acquiring an additional 11,508 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Raymond James reissued a “buy” rating and set a $124.00 price objective on shares of Abbott Laboratories in a research note on Wednesday. Barclays reduced their price objective on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a research note on Monday. Evercore ISI lifted their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Royal Bank of Canada cut their price target on shares of 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, Citigroup lifted their price target 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. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.50.

Insider Buying and Selling

In related news, EVP Andrea F. Wainer sold 42,500 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $112.50, for a total transaction of $4,781,250.00. Following the transaction, the executive vice president now directly owns 65,027 shares in the company, valued at $7,315,537.50. The sale was disclosed in a filing with the SEC, which is available through this link. In other Abbott Laboratories news, VP John A. Jr. Mccoy sold 472 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $118.50, for a total value of $55,932.00. Following the transaction, the vice president now directly owns 18,760 shares in the company, valued at $2,223,060. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Andrea F. Wainer sold 42,500 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $112.50, for a total transaction of $4,781,250.00. Following the completion of the transaction, the executive vice president now owns 65,027 shares in the company, valued at $7,315,537.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,435 shares of company stock worth $6,451,298. Insiders own 0.47% of the company’s stock.

Abbott Laboratories Stock Down 0.7 %

Shares of ABT stock traded down $0.70 during trading on Wednesday, reaching $106.89. The company’s stock had a trading volume of 5,050,066 shares, compared to its average volume of 5,719,627. The business has a fifty day moving average price of $113.90 and a 200-day moving average price of $107.97. 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 company has a market cap of $185.47 billion, a price-to-earnings ratio of 33.30, a price-to-earnings-growth ratio of 2.58 and a beta of 0.74. Abbott Laboratories has a one year low of $89.67 and a one year high of $121.64.

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

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a dividend of $0.55 per share. The ex-dividend date is Friday, April 12th. This represents a $2.20 dividend on an annualized basis and a yield of 2.06%. Abbott Laboratories’s payout ratio is 68.54%.

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.