Iowa State Bank Sells 103 Shares of Abbott Laboratories (NYSE:ABT)

Iowa State Bank lowered its stake in shares of Abbott Laboratories (NYSE:ABTFree Report) by 4.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,336 shares of the healthcare product maker’s stock after selling 103 shares during the quarter. Iowa State Bank’s holdings in Abbott Laboratories were worth $257,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of ABT. FAS Wealth Partners Inc. grew its position in Abbott Laboratories by 4.9% in the 4th quarter. FAS Wealth Partners Inc. now owns 5,237 shares of the healthcare product maker’s stock valued at $576,000 after acquiring an additional 247 shares during the last quarter. Private Ocean LLC grew its position in Abbott Laboratories by 16.0% in the 4th quarter. Private Ocean LLC now owns 1,525 shares of the healthcare product maker’s stock valued at $168,000 after acquiring an additional 210 shares during the last quarter. Drive Wealth Management LLC grew its position in Abbott Laboratories by 1.5% in the 4th quarter. Drive Wealth Management LLC now owns 6,712 shares of the healthcare product maker’s stock valued at $739,000 after acquiring an additional 100 shares during the last quarter. Builder Investment Group Inc. ADV bought a new position in Abbott Laboratories in the 4th quarter valued at $224,000. Finally, Monte Financial Group LLC grew its position in Abbott Laboratories by 3.5% in the 4th quarter. Monte Financial Group LLC now owns 53,465 shares of the healthcare product maker’s stock valued at $5,885,000 after acquiring an additional 1,832 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Insider Activity

In other news, EVP Andrea F. Wainer sold 42,500 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $112.50, for a total value of $4,781,250.00. Following the completion of the transaction, the executive vice president now directly owns 65,027 shares in the company, valued at approximately $7,315,537.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Andrea F. Wainer sold 42,500 shares of the company’s stock in a transaction that occurred 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 directly owns 65,027 shares in the company, valued at approximately $7,315,537.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Andrea F. Wainer sold 12,500 shares of the company’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 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. In the last ninety days, insiders sold 56,435 shares of company stock worth $6,451,298. 0.47% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Wells Fargo & Company upped their target price on Abbott Laboratories from $116.00 to $121.00 and gave the stock an “overweight” rating in a report on Wednesday, December 13th. Barclays increased their price objective on Abbott Laboratories from $133.00 to $141.00 and gave the company an “overweight” rating in a report on Friday, January 26th. Citigroup raised their target price on Abbott Laboratories from $123.00 to $126.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. TheStreet upgraded Abbott Laboratories from a “c+” rating to a “b-” rating in a research report on Thursday, December 21st. Finally, Raymond James lifted their price objective on Abbott Laboratories from $124.00 to $127.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $121.77.

Get Our Latest Research Report on ABT

Abbott Laboratories Stock Performance

Shares of ABT traded down $0.07 during midday trading on Tuesday, reaching $112.02. The stock had a trading volume of 4,559,539 shares, compared to its average volume of 5,700,051. The firm has a 50 day simple moving average of $115.06 and a 200-day simple moving average of $106.67. Abbott Laboratories has a one year low of $89.67 and a one year high of $121.64. The firm has a market cap of $194.37 billion, a PE ratio of 34.24, a P/E/G ratio of 2.74 and a beta of 0.74. The company has a current ratio of 1.64, a quick ratio of 1.16 and a debt-to-equity ratio of 0.35.

Abbott Laboratories (NYSE:ABTGet Free Report) last announced its quarterly earnings data on Wednesday, January 24th. The healthcare product maker reported $1.19 EPS for the quarter, meeting analysts’ consensus estimates of $1.19. The company had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $10.19 billion. Abbott Laboratories had a net margin of 14.27% and a return on equity of 20.65%. The company’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.03 EPS. As a group, sell-side analysts anticipate that Abbott Laboratories will post 4.62 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Friday, April 12th. Abbott Laboratories’s payout ratio is presently 67.48%.

Abbott Laboratories Profile

(Free Report)

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.

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

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