BRYN MAWR TRUST Co trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 439,420 shares of the healthcare product maker’s stock after selling 4,229 shares during the quarter. Abbott Laboratories comprises about 1.4% of BRYN MAWR TRUST Co’s investment portfolio, making the stock its 13th largest holding. BRYN MAWR TRUST Co’s holdings in Abbott Laboratories were worth $25,078,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. IFG Advisory LLC bought a new position in Abbott Laboratories during the fourth quarter worth about $2,824,000. Rowland & Co. Investment Counsel ADV bought a new position in Abbott Laboratories during the fourth quarter worth about $102,000. Icon Wealth Partners LLC bought a new position in Abbott Laboratories during the fourth quarter worth about $102,000. Tributary Capital Management LLC bought a new position in Abbott Laboratories during the third quarter worth about $106,000. Finally, Cerebellum GP LLC bought a new position in Abbott Laboratories during the fourth quarter worth about $133,000. 72.34% of the stock is currently owned by institutional investors and hedge funds.
ABT opened at $59.27 on Tuesday. Abbott Laboratories has a 1-year low of $42.31 and a 1-year high of $64.60. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.86 and a current ratio of 2.26. The company has a market capitalization of $102,143.08, a PE ratio of 23.71, a P/E/G ratio of 1.73 and a beta of 1.49.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.89%. Abbott Laboratories’s payout ratio is currently 44.80%.
In related news, EVP Stephen R. Fussell sold 13,313 shares of Abbott Laboratories stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $62.84, for a total transaction of $836,588.92. Following the sale, the executive vice president now directly owns 152,343 shares in the company, valued at approximately $9,573,234.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Stephen R. Fussell sold 56,401 shares of Abbott Laboratories stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $59.61, for a total transaction of $3,362,063.61. Following the sale, the insider now owns 184,884 shares in the company, valued at $11,020,935.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 124,261 shares of company stock worth $7,559,987. 0.74% of the stock is currently owned by corporate insiders.
ABT has been the topic of a number of recent research reports. Barclays reaffirmed a “buy” rating and set a $66.00 price target on shares of Abbott Laboratories in a research report on Monday, January 8th. BTIG Research downgraded shares of Abbott Laboratories from a “buy” rating to a “neutral” rating in a research note on Monday, January 22nd. They noted that the move was a valuation call. Leerink Swann reiterated a “market perform” rating and set a $68.00 price objective (up from $60.00) on shares of Abbott Laboratories in a research note on Thursday, January 25th. Morgan Stanley increased their price objective on shares of Abbott Laboratories from $67.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, January 25th. Finally, JPMorgan Chase upgraded shares of Abbott Laboratories from a “neutral” rating to an “overweight” rating and set a $60.00 price objective on the stock in a research note on Tuesday, January 2nd. Seven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $65.47.
About Abbott Laboratories
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.
Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abbott Laboratories (NYSE:ABT).
Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.