Argonautica Private Wealth Management Inc. Lowers Stock Position in Abbott Laboratories (NYSE:ABT)

Argonautica Private Wealth Management Inc. decreased its position in Abbott Laboratories (NYSE:ABT) by 0.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,042 shares of the healthcare product maker’s stock after selling 219 shares during the quarter. Abbott Laboratories accounts for approximately 1.5% of Argonautica Private Wealth Management Inc.’s portfolio, making the stock its 16th largest position. Argonautica Private Wealth Management Inc.’s holdings in Abbott Laboratories were worth $4,755,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the company. DMKC Advisory Services LLC purchased a new stake in shares of Abbott Laboratories in the 4th quarter valued at $1,738,000. Richard Bernstein Advisors LLC lifted its position in shares of Abbott Laboratories by 75.9% during the fourth quarter. Richard Bernstein Advisors LLC now owns 59,316 shares of the healthcare product maker’s stock worth $6,709,000 after purchasing an additional 25,587 shares in the last quarter. Lake Street Advisors Group LLC lifted its holdings in Abbott Laboratories by 5.5% during the 4th quarter. Lake Street Advisors Group LLC now owns 17,855 shares of the healthcare product maker’s stock worth $2,020,000 after buying an additional 936 shares in the last quarter. JFG Wealth Management LLC acquired a new position in Abbott Laboratories during the 4th quarter worth $245,000. Finally, Kirtland Hills Capital Management LLC increased its stake in shares of Abbott Laboratories by 2.9% during the fourth quarter. Kirtland Hills Capital Management LLC now owns 4,276 shares of the healthcare product maker’s stock worth $484,000 after buying an additional 122 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of Abbott Laboratories 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 sale, the executive vice president now owns 125,697 shares in the company, valued at approximately $16,152,064.50. This trade represents a 15.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.47% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Wells Fargo & Company increased their price target on shares of Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. StockNews.com cut Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. Evercore ISI upped their target price on Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. Barclays reaffirmed an “overweight” rating and set a $158.00 price target (up previously from $149.00) on shares of Abbott Laboratories in a research report on Monday, January 27th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $135.00 price objective on shares of Abbott Laboratories in a report on Tuesday, January 21st. Four 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 data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.06.

Abbott Laboratories Price Performance

Shares of ABT opened at $136.03 on Wednesday. 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 has a twelve month low of $99.71 and a twelve month high of $136.59. The firm has a market capitalization of $235.94 billion, a PE ratio of 17.78, a P/E/G ratio of 2.52 and a beta of 0.74. The stock’s 50 day moving average is $121.65 and its two-hundred day moving average is $117.30.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, meeting analysts’ consensus estimates of $1.34. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The company had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $11.03 billion. During the same quarter last year, the company earned $1.19 earnings per share. Abbott Laboratories’s quarterly revenue was up 7.2% compared to the same quarter last year. Research analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, April 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.73%. Abbott Laboratories’s payout ratio is 30.85%.

Abbott Laboratories 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.