Bank of Hawaii Lowers Stock Holdings in Abbott Laboratories (NYSE:ABT)

Bank of Hawaii reduced its position in shares of Abbott Laboratories (NYSE:ABT) by 1.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,336 shares of the healthcare product maker’s stock after selling 582 shares during the period. Bank of Hawaii’s holdings in Abbott Laboratories were worth $5,260,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in shares of Abbott Laboratories by 5.2% during the second quarter. BlackRock Inc. now owns 134,745,433 shares of the healthcare product maker’s stock worth $12,319,776,000 after buying an additional 6,621,486 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Abbott Laboratories by 5.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 25,721,656 shares of the healthcare product maker’s stock valued at $2,799,288,000 after acquiring an additional 1,265,801 shares in the last quarter. Morgan Stanley raised its stake in shares of Abbott Laboratories by 11.3% in the first quarter. Morgan Stanley now owns 25,362,234 shares of the healthcare product maker’s stock valued at $2,001,335,000 after acquiring an additional 2,578,161 shares in the last quarter. GQG Partners LLC raised its stake in shares of Abbott Laboratories by 29.3% in the second quarter. GQG Partners LLC now owns 12,533,323 shares of the healthcare product maker’s stock valued at $1,146,169,000 after acquiring an additional 2,841,074 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its stake in shares of Abbott Laboratories by 3.7% in the second quarter. Nuveen Asset Management LLC now owns 10,100,593 shares of the healthcare product maker’s stock valued at $923,496,000 after acquiring an additional 359,477 shares in the last quarter. Institutional investors and hedge funds own 63.94% of the company’s stock.

Shares of ABT traded up $0.75 during midday trading on Monday, reaching $108.37. 33,640 shares of the stock were exchanged, compared to its average volume of 6,888,955. The business’s 50-day moving average price is $109.57 and its 200 day moving average price is $100.86. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.70 and a quick ratio of 1.19. Abbott Laboratories has a twelve month low of $61.61 and a twelve month high of $115.14. The company has a market capitalization of $190.74 billion, a price-to-earnings ratio of 56.94, a PEG ratio of 2.43 and a beta of 0.90.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 21st. The healthcare product maker reported $0.98 EPS for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.08. Abbott Laboratories had a return on equity of 18.19% and a net margin of 10.50%. The business had revenue of $8.85 billion for the quarter, compared to analysts’ expectations of $8.53 billion. During the same quarter in the previous year, the firm earned $0.84 earnings per share. The business’s revenue was up 9.6% compared to the same quarter last year. As a group, equities research analysts expect that Abbott Laboratories will post 3.57 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, November 16th. Investors of record on Thursday, October 15th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend was Wednesday, October 14th. Abbott Laboratories’s dividend payout ratio is currently 44.44%.

In related news, SVP Roger Bird sold 6,290 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $108.73, for a total transaction of $683,911.70. Following the transaction, the senior vice president now owns 56,630 shares of the company’s stock, valued at $6,157,379.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Robert E. Funck sold 83,333 shares of the firm’s stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $108.83, for a total value of $9,069,130.39. Following the transaction, the chief financial officer now directly owns 265,550 shares in the company, valued at approximately $28,899,806.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 125,773 shares of company stock worth $13,600,558. Corporate insiders own 1.70% of the company’s stock.

Several analysts have recently issued reports on the company. Wolfe Research assumed coverage on Abbott Laboratories in a research note on Friday, September 11th. They issued an “outperform” rating and a $124.00 price objective on the stock. BTIG Research reiterated a “hold” rating on shares of Abbott Laboratories in a research note on Thursday, August 27th. Credit Suisse Group reduced their price objective on Abbott Laboratories from $136.00 to $118.00 and set an “outperform” rating on the stock in a research note on Thursday, October 22nd. Morgan Stanley increased their price objective on Abbott Laboratories from $117.00 to $121.00 and gave the company an “overweight” rating in a research note on Thursday, November 19th. Finally, SVB Leerink raised their price target on Abbott Laboratories from $110.00 to $115.00 and gave the company a “market perform” rating in a research note on Thursday, October 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $115.53.

Abbott Laboratories Company Profile

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. Its Established Pharmaceutical Products segment offers generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

Further Reading: What causes a yield curve to invert?

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).

Institutional Ownership by Quarter 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.