Abbott Laboratories (NYSE:ABT) Position Trimmed by JARISLOWSKY FRASER Ltd

JARISLOWSKY FRASER Ltd decreased its position in Abbott Laboratories (NYSE:ABT - Free Report) by 4.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,262,391 shares of the healthcare product maker's stock after selling 114,939 shares during the quarter. Abbott Laboratories accounts for about 1.5% of JARISLOWSKY FRASER Ltd's investment portfolio, making the stock its 24th largest holding. JARISLOWSKY FRASER Ltd owned approximately 0.13% of Abbott Laboratories worth $253,954,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Redwood Park Advisors LLC purchased a new position in shares of Abbott Laboratories during the 4th quarter valued at approximately $25,000. Noble Wealth Management PBC bought a new position in Abbott Laboratories during the fourth quarter worth $26,000. NewSquare Capital LLC lifted its stake in Abbott Laboratories by 78.4% during the fourth quarter. NewSquare Capital LLC now owns 239 shares of the healthcare product maker's stock worth $27,000 after purchasing an additional 105 shares during the last quarter. WealthTrak Capital Management LLC bought a new position in Abbott Laboratories during the fourth quarter worth $28,000. Finally, Rialto Wealth Management LLC bought a new position in Abbott Laboratories during the fourth quarter worth $29,000. Institutional investors and hedge funds own 75.18% of the company's stock.

Abbott Laboratories Price Performance

NYSE:ABT traded down $0.09 during mid-day trading on Wednesday, reaching $128.96. 672,865 shares of the stock were exchanged, compared to its average volume of 6,101,137. The business has a fifty day moving average price of $129.57 and a 200 day moving average price of $123.72. The firm has a market capitalization of $224.37 billion, a PE ratio of 16.85, a PEG ratio of 2.52 and a beta of 0.74. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $141.23. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.07 by $0.02. The firm had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.38 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. Research analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.83%. Abbott Laboratories's dividend payout ratio is currently 30.61%.

Insider Buying and Selling

In related news, SVP Eric Shroff sold 562 shares of Abbott Laboratories stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $138.17, for a total value of $77,651.54. Following the transaction, the senior vice president now owns 31,970 shares of the company's stock, valued at approximately $4,417,294.90. This trade represents a 1.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Lisa D. Earnhardt sold 91,167 shares of Abbott Laboratories stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $133.82, for a total value of $12,199,967.94. Following the transaction, the executive vice president now directly owns 71,928 shares in the company, valued at approximately $9,625,404.96. This trade represents a 55.90% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 95,278 shares of company stock valued at $12,745,859. 0.46% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. StockNews.com cut Abbott Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 12th. Morgan Stanley raised their target price on Abbott Laboratories from $117.00 to $127.00 and gave the company an "equal weight" rating in a research note on Thursday, April 17th. Barclays raised their target price on Abbott Laboratories from $158.00 to $159.00 and gave the company an "overweight" rating in a research note on Thursday, April 17th. UBS Group raised their target price on Abbott Laboratories from $146.00 to $148.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. Finally, Bank of America raised their target price on Abbott Laboratories from $133.00 to $150.00 and gave the company a "buy" rating in a research note on Monday, March 10th. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $142.59.

Abbott Laboratories Company 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.