Blue Chip Partners LLC Sells 6,636 Shares of Abbott Laboratories (NYSE:ABT)

Blue Chip Partners LLC decreased its stake in shares of Abbott Laboratories (NYSE:ABT) by 4.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 145,424 shares of the healthcare product maker’s stock after selling 6,636 shares during the quarter. Abbott Laboratories comprises about 1.7% of Blue Chip Partners LLC’s portfolio, making the stock its 26th largest holding. Blue Chip Partners LLC’s holdings in Abbott Laboratories were worth $16,007,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ABT. Alliance Wealth Advisors LLC UT lifted its position in Abbott Laboratories by 0.4% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 25,085 shares of the healthcare product maker’s stock valued at $2,761,000 after buying an additional 92 shares during the last quarter. Rappaport Reiches Capital Management LLC lifted its position in Abbott Laboratories by 0.8% in the fourth quarter. Rappaport Reiches Capital Management LLC now owns 12,287 shares of the healthcare product maker’s stock valued at $1,352,000 after buying an additional 94 shares during the last quarter. Avion Wealth lifted its position in Abbott Laboratories by 19.4% in the fourth quarter. Avion Wealth now owns 591 shares of the healthcare product maker’s stock valued at $65,000 after buying an additional 96 shares during the last quarter. Renaissance Investment Group LLC lifted its position in Abbott Laboratories by 0.7% in the fourth quarter. Renaissance Investment Group LLC now owns 14,204 shares of the healthcare product maker’s stock valued at $1,563,000 after buying an additional 100 shares during the last quarter. Finally, Drive Wealth Management LLC lifted its position in Abbott Laboratories by 1.5% in the fourth quarter. Drive Wealth Management LLC now owns 6,712 shares of the healthcare product maker’s stock valued at $739,000 after buying an additional 100 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Up 0.6 %

Shares of ABT stock traded up $0.67 during trading hours on Friday, reaching $107.53. 3,575,566 shares of the stock were exchanged, compared to its average volume of 5,219,304. The business’s fifty day moving average is $113.64 and its two-hundred day moving average is $108.22. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.64 and a quick ratio of 1.16. Abbott Laboratories has a 12-month low of $89.67 and a 12-month high of $121.64. The firm has a market capitalization of $186.58 billion, a P/E ratio of 33.50, a P/E/G ratio of 2.59 and a beta of 0.74.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results 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 company had revenue of $9.96 billion for the quarter, compared to analyst estimates 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 was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.03 earnings per share. As a group, research analysts expect that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

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

Insider Buying and Selling at Abbott Laboratories

In other news, EVP Andrea F. Wainer sold 42,500 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $112.50, for a total value of $4,781,250.00. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Andrea F. Wainer sold 42,500 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $112.50, for a total value of $4,781,250.00. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Daniel Gesua Sive Salvadori sold 963 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $118.50, for a total value of $114,115.50. Following the completion of the sale, the executive vice president now directly owns 125,697 shares of the company’s stock, valued at $14,895,094.50. The disclosure for this sale can be found here. Insiders have sold 56,435 shares of company stock worth $6,451,298 over the last three months. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on ABT shares. Royal Bank of Canada reduced 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 report on Thursday, April 18th. Evercore ISI increased 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. Raymond James reissued a “buy” rating and set a $124.00 price target on shares of Abbott Laboratories in a research report on Wednesday. Barclays reduced their price target on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a research report on Monday, April 22nd. Finally, Citigroup increased their price target on shares of Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $121.50.

About Abbott Laboratories

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.