Norden Group LLC Sells 3,053 Shares of Abbott Laboratories (NYSE:ABT)

Norden Group LLC lessened its position in Abbott Laboratories (NYSE:ABT) by 13.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,424 shares of the healthcare product maker’s stock after selling 3,053 shares during the period. Abbott Laboratories accounts for about 0.4% of Norden Group LLC’s portfolio, making the stock its 24th biggest holding. Norden Group LLC’s holdings in Abbott Laboratories were worth $2,248,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Stuart Chaussee & Associates Inc. boosted its position in Abbott Laboratories by 236.0% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 336 shares of the healthcare product maker’s stock worth $37,000 after buying an additional 236 shares during the period. Rise Advisors LLC acquired a new position in shares of Abbott Laboratories during the fourth quarter worth $37,000. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in shares of Abbott Laboratories in the third quarter worth $40,000. Cornerstone Planning Group LLC increased its holdings in Abbott Laboratories by 79.4% in the third quarter. Cornerstone Planning Group LLC now owns 454 shares of the healthcare product maker’s stock valued at $44,000 after purchasing an additional 201 shares during the period. Finally, Bfsg LLC acquired a new position in Abbott Laboratories during the 4th quarter worth about $51,000. 75.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ABT. Barclays decreased their price target on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a research note on Monday, April 22nd. Evercore ISI raised their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Citigroup upped their price objective on shares of Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Royal Bank of Canada lowered their target price on shares of Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a research note on Thursday, April 18th. Finally, Raymond James restated a “buy” rating and issued a $124.00 price target on shares of Abbott Laboratories in a report on Wednesday, April 24th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and an average target price of $121.50.

Abbott Laboratories Stock Performance

Shares of NYSE ABT traded down $0.90 during trading on Tuesday, reaching $106.37. 2,025,323 shares of the stock traded hands, compared to its average volume of 5,586,987. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64. The company has a 50-day moving average of $113.50 and a 200-day moving average of $108.34. The stock has a market capitalization of $184.57 billion, a P/E ratio of 33.16, a price-to-earnings-growth ratio of 2.59 and a beta of 0.74. 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 (NYSE:ABT) last posted its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. Abbott Laboratories had a return on equity of 20.32% and a net margin of 13.96%. The firm had revenue of $9.96 billion during the quarter, compared to analyst estimates of $9.88 billion. During the same period last year, the company earned $1.03 earnings per share. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. Analysts forecast that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

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

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 963 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $118.50, for a total value of $114,115.50. Following the transaction, the executive vice president now directly owns 125,697 shares in the company, valued at approximately $14,895,094.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Abbott Laboratories news, VP John A. Jr. Mccoy sold 472 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $55,932.00. Following the sale, the vice president now owns 18,760 shares in the company, valued at $2,223,060. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Daniel Gesua Sive Salvadori sold 963 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $118.50, for a total value of $114,115.50. Following the completion of the transaction, the executive vice president now owns 125,697 shares of the company’s stock, valued at $14,895,094.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,935 shares of company stock valued at $1,670,048. 0.47% of the stock is currently owned by company insiders.

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.