Good Life Advisors LLC Has $2.95 Million Stake in Abbott Laboratories (NYSE:ABT)

Good Life Advisors LLC decreased its stake in Abbott Laboratories (NYSE:ABT) by 0.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,039 shares of the healthcare product maker’s stock after selling 135 shares during the quarter. Good Life Advisors LLC’s holdings in Abbott Laboratories were worth $2,945,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its stake in Abbott Laboratories by 17.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 268,538 shares of the healthcare product maker’s stock worth $30,616,000 after purchasing an additional 40,783 shares in the last quarter. Koss Olinger Consulting LLC raised its position in shares of Abbott Laboratories by 10.7% during the third quarter. Koss Olinger Consulting LLC now owns 3,360 shares of the healthcare product maker’s stock worth $383,000 after acquiring an additional 325 shares during the last quarter. Trilogy Capital Inc. raised its position in shares of Abbott Laboratories by 5.6% during the third quarter. Trilogy Capital Inc. now owns 2,503 shares of the healthcare product maker’s stock worth $285,000 after acquiring an additional 132 shares during the last quarter. Copeland Capital Management LLC bought a new stake in shares of Abbott Laboratories during the third quarter worth $142,000. Finally, Townsend Asset Management Corp NC ADV bought a new stake in shares of Abbott Laboratories during the third quarter worth $206,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Transactions at Abbott Laboratories

In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the company’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the completion of the transaction, the executive vice president now directly owns 125,697 shares of the company’s stock, valued at $16,152,064.50. This represents a 15.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is owned by insiders.

Abbott Laboratories Stock Down 0.4 %

NYSE:ABT opened at $130.12 on Wednesday. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $132.65. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The stock has a market cap of $225.68 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 2.39 and a beta of 0.75. The stock has a 50-day moving average price of $119.57 and a two-hundred day moving average price of $116.42.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.34. The firm had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $11.03 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The company’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.19 earnings per share. As a group, equities analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th were given a dividend of $0.59 per share. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a dividend yield of 1.81%. The ex-dividend date was Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio is currently 30.85%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ABT shares. Argus upgraded Abbott Laboratories to a “strong-buy” rating in a research report on Tuesday, January 28th. StockNews.com downgraded Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. Stifel Nicolaus boosted their target price on Abbott Laboratories from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Evercore ISI upped their price objective on Abbott Laboratories to $136.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. Finally, Wells Fargo & Company upped their price objective on Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $133.06.

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.