Centric Wealth Management Has $279,000 Stock Holdings in Abbott Laboratories (NYSE:ABT)

Centric Wealth Management lessened its position in Abbott Laboratories (NYSE:ABT) by 43.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,501 shares of the healthcare product maker’s stock after selling 1,954 shares during the period. Centric Wealth Management’s holdings in Abbott Laboratories were worth $279,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Zevenbergen Capital Investments LLC grew its stake in Abbott Laboratories by 0.6% in the third 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 during the period. Perigon Wealth Management LLC lifted its stake in Abbott Laboratories by 5.2% in the fourth quarter. Perigon Wealth Management LLC now owns 47,080 shares of the healthcare product maker’s stock valued at $5,182,000 after buying an additional 2,317 shares in the last quarter. Rockland Trust Co. boosted its holdings in shares of Abbott Laboratories by 1.5% in the third quarter. Rockland Trust Co. now owns 91,868 shares of the healthcare product maker’s stock valued at $8,897,000 after buying an additional 1,343 shares during the period. Boston Partners increased its position in shares of Abbott Laboratories by 634.6% during the third quarter. Boston Partners now owns 29,758 shares of the healthcare product maker’s stock worth $2,882,000 after acquiring an additional 25,707 shares in the last quarter. Finally, VisionPoint Advisory Group LLC boosted its stake in Abbott Laboratories by 7.4% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 3,106 shares of the healthcare product maker’s stock worth $301,000 after purchasing an additional 215 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ABT has been the topic of a number of recent research reports. Royal Bank of Canada lowered their price objective on shares of Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating on the stock in a report on Thursday, April 18th. 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. Raymond James restated a “buy” rating and issued a $124.00 price objective on shares of Abbott Laboratories in a report on Wednesday, April 24th. Citigroup upped their target price on Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Finally, Barclays lowered their price target on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a research report on Monday, April 22nd. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.50.

Insider Buying and Selling

In related news, EVP Andrea F. Wainer sold 12,500 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the completion of the sale, the executive vice president now owns 78,704 shares of the company’s stock, valued at $9,444,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP John A. Jr. Mccoy sold 472 shares of Abbott Laboratories 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 $55,932.00. Following the sale, the vice president now directly owns 18,760 shares of the company’s stock, valued at approximately $2,223,060. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Andrea F. Wainer sold 12,500 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the transaction, the executive vice president now owns 78,704 shares of the company’s stock, valued at $9,444,480. The disclosure for this sale can be found here. Insiders have sold 13,935 shares of company stock valued at $1,670,048 over the last 90 days. 0.47% of the stock is owned by corporate insiders.

Abbott Laboratories Stock Performance

Shares of ABT stock traded up $0.53 during trading on Tuesday, reaching $106.17. 6,555,967 shares of the company’s stock were exchanged, compared to its average volume of 5,552,894. The firm’s fifty day moving average price is $112.00 and its 200-day moving average price is $108.85. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $184.70 billion, a PE ratio of 33.07, a PEG ratio of 2.55 and a beta of 0.76. Abbott Laboratories has a twelve month low of $89.67 and a twelve month high of $121.64.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.02. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.96%. The business had revenue of $9.96 billion during the quarter, compared to the consensus estimate of $9.88 billion. During the same period in the previous year, the company posted $1.03 EPS. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Abbott Laboratories will post 4.62 EPS for the current year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Friday, April 12th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 68.54%.

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.