Heritage Investors Management Corp Has $4.89 Million Stock Holdings in Abbott Laboratories (NYSE:ABT)

Heritage Investors Management Corp reduced its position in shares of Abbott Laboratories (NYSE:ABT) by 2.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 44,391 shares of the healthcare product maker’s stock after selling 1,081 shares during the quarter. Heritage Investors Management Corp’s holdings in Abbott Laboratories were worth $4,886,000 as of its most recent filing with the Securities and Exchange Commission.

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

Abbott Laboratories Stock Down 0.3 %

NYSE ABT traded down $0.27 during trading hours on Thursday, hitting $104.67. 5,807,391 shares of the company traded hands, compared to its average volume of 5,564,612. The stock has a market capitalization of $182.09 billion, a price-to-earnings ratio of 32.61, a P/E/G 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. The business’s 50-day moving average is $111.69 and its 200-day moving average is $108.82. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.11 and a current ratio of 1.60.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share 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 analysts’ expectations of $9.88 billion. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. The firm’s revenue was up 2.2% on a year-over-year basis. During the same period last year, the business earned $1.03 earnings per share. Sell-side analysts anticipate that Abbott Laboratories will post 4.62 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders 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 2.10%. The ex-dividend date is Friday, April 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, EVP Lisa D. Earnhardt sold 22,852 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $106.25, for a total value of $2,428,025.00. Following the transaction, the executive vice president now directly owns 61,462 shares in the company, valued at $6,530,337.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Abbott Laboratories news, EVP Lisa D. Earnhardt sold 22,852 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $106.25, for a total value of $2,428,025.00. Following the transaction, the executive vice president now directly owns 61,462 shares of the company’s stock, valued at approximately $6,530,337.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Andrea F. Wainer sold 12,500 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $120.00, for a total value of $1,500,000.00. Following the sale, the executive vice president now owns 78,704 shares of the company’s stock, valued at approximately $9,444,480. The disclosure for this sale can be found here. Insiders have sold 36,787 shares of company stock worth $4,098,073 over the last 90 days. Company insiders own 0.47% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.