Exencial Wealth Advisors LLC Trims Stock Holdings in Abbott Laboratories (NYSE:ABT)

Exencial Wealth Advisors LLC reduced its stake in Abbott Laboratories (NYSE:ABTGet Rating) by 24.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 78,584 shares of the healthcare product maker’s stock after selling 25,235 shares during the period. Exencial Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $11,060,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ABT. Camden National Bank raised its holdings in Abbott Laboratories by 1.5% in the 4th quarter. Camden National Bank now owns 7,707 shares of the healthcare product maker’s stock valued at $844,000 after buying an additional 114 shares during the period. Morgan Stanley grew its position in Abbott Laboratories by 4.5% in the 2nd quarter. Morgan Stanley now owns 28,562,141 shares of the healthcare product maker’s stock valued at $3,311,209,000 after acquiring an additional 1,233,152 shares in the last quarter. Venturi Wealth Management LLC grew its position in Abbott Laboratories by 3.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 15,298 shares of the healthcare product maker’s stock valued at $1,807,000 after acquiring an additional 486 shares in the last quarter. Center for Financial Planning Inc. grew its position in Abbott Laboratories by 3.1% in the 3rd quarter. Center for Financial Planning Inc. now owns 15,430 shares of the healthcare product maker’s stock valued at $1,823,000 after acquiring an additional 471 shares in the last quarter. Finally, New World Advisors LLC acquired a new position in Abbott Laboratories in the 3rd quarter valued at about $477,000. Hedge funds and other institutional investors own 73.46% of the company’s stock.

In other Abbott Laboratories news, EVP Mary K. Moreland sold 400 shares of the business’s stock in a transaction that occurred on Tuesday, February 22nd. The stock was sold at an average price of $119.31, for a total value of $47,724.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Julie L. Tyler sold 462 shares of the business’s stock in a transaction that occurred on Tuesday, February 22nd. The shares were sold at an average price of $119.29, for a total value of $55,111.98. The disclosure for this sale can be found here. In the last quarter, insiders sold 81,896 shares of company stock valued at $9,299,454. 0.52% of the stock is owned by company insiders.

ABT traded up $1.91 on Friday, reaching $109.88. The company’s stock had a trading volume of 6,159,308 shares, compared to its average volume of 5,167,185. The stock has a 50 day moving average of $117.37 and a two-hundred day moving average of $124.75. The company has a quick ratio of 1.40, a current ratio of 1.85 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $192.39 billion, a price-to-earnings ratio of 25.49, a P/E/G ratio of 2.81 and a beta of 0.73. Abbott Laboratories has a fifty-two week low of $104.63 and a fifty-two week high of $142.60.

Abbott Laboratories (NYSE:ABTGet Rating) last announced its quarterly earnings results on Wednesday, April 20th. The healthcare product maker reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.26. Abbott Laboratories had a return on equity of 28.72% and a net margin of 17.35%. The firm had revenue of $11.90 billion during the quarter, compared to the consensus estimate of $11 billion. During the same period in the prior year, the company posted $1.32 earnings per share. The firm’s quarterly revenue was up 13.8% compared to the same quarter last year. As a group, analysts anticipate that Abbott Laboratories will post 4.82 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 16th. Shareholders of record on Friday, April 15th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date is Wednesday, April 13th. Abbott Laboratories’s dividend payout ratio is currently 43.62%.

ABT has been the subject of several research reports. UBS Group lifted their target price on Abbott Laboratories from $138.00 to $142.00 and gave the company a “buy” rating in a research report on Thursday, January 27th. StockNews.com assumed coverage on Abbott Laboratories in a research report on Thursday, March 31st. They issued a “strong-buy” rating for the company. Wells Fargo & Company lowered their price objective on Abbott Laboratories from $155.00 to $150.00 and set an “overweight” rating for the company in a research report on Friday, April 8th. Royal Bank of Canada lowered their price objective on Abbott Laboratories from $146.00 to $143.00 and set an “outperform” rating for the company in a research report on Thursday, April 21st. Finally, Raymond James lowered their price objective on Abbott Laboratories from $143.00 to $135.00 and set an “outperform” rating for the company in a research report on Thursday, April 21st. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Abbott Laboratories currently has an average rating of “Buy” and an average price target of $138.83.

Abbott Laboratories Company Profile (Get Rating)

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 Established Pharmaceutical Products segment 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.

Further Reading

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

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