Massmutual Trust Co. FSB ADV Decreases Stake in Abbott Laboratories (NYSE:ABT)

Massmutual Trust Co. FSB ADV lessened its holdings in Abbott Laboratories (NYSE:ABT) by 1.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,521 shares of the healthcare product maker’s stock after selling 653 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Abbott Laboratories were worth $4,954,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in shares of Abbott Laboratories by 5.2% in the second quarter. BlackRock Inc. now owns 134,745,433 shares of the healthcare product maker’s stock worth $12,319,776,000 after purchasing an additional 6,621,486 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Abbott Laboratories by 5.2% during the 3rd 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 buying an additional 1,265,801 shares in the last quarter. Morgan Stanley lifted 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 worth $2,001,335,000 after buying an additional 2,578,161 shares in the last quarter. GQG Partners LLC increased its holdings in Abbott Laboratories by 29.3% in the 2nd quarter. GQG Partners LLC now owns 12,533,323 shares of the healthcare product maker’s stock worth $1,146,169,000 after buying an additional 2,841,074 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in 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 worth $923,496,000 after purchasing an additional 359,477 shares during the last quarter. 63.94% of the stock is owned by institutional investors and hedge funds.

Shares of Abbott Laboratories stock opened at $108.22 on Tuesday. Abbott Laboratories has a twelve month low of $61.61 and a twelve month high of $115.14. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.70. The firm has a market cap of $191.81 billion, a P/E ratio of 57.26, a price-to-earnings-growth ratio of 2.43 and a beta of 0.90. The firm’s 50-day simple moving average is $109.47 and its 200-day simple moving average is $101.06.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 21st. The healthcare product maker reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.08. The firm had revenue of $8.85 billion for the quarter, compared to analysts’ expectations of $8.53 billion. Abbott Laboratories had a return on equity of 18.19% and a net margin of 10.50%. The business’s revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.84 earnings per share. On average, equities analysts forecast that Abbott Laboratories will post 3.57 earnings per share for the current fiscal year.

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

ABT has been the topic of several analyst reports. The Goldman Sachs Group set a $94.00 price target on shares of Abbott Laboratories and gave the company a “sell” rating in a report on Wednesday, September 2nd. Credit Suisse Group cut their price objective on Abbott Laboratories from $136.00 to $118.00 and set an “outperform” rating on the stock in a research report on Thursday, October 22nd. Jefferies Financial Group lifted their price objective on Abbott Laboratories from $113.00 to $123.00 and gave the company a “buy” rating in a report on Thursday, October 22nd. Citigroup raised their price target on shares of Abbott Laboratories from $110.00 to $130.00 and gave the company a “buy” rating in a report on Friday, August 28th. Finally, Raymond James boosted their price target on Abbott Laboratories from $102.00 to $114.00 and gave the stock an “outperform” rating in a research note on Thursday, October 22nd. One investment 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. Abbott Laboratories has a consensus rating of “Buy” and a consensus price target of $115.53.

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 30,000 shares of Abbott Laboratories stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $107.01, for a total value of $3,210,300.00. Following the completion of the sale, the executive vice president now owns 74,080 shares in the company, valued at approximately $7,927,300.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Randel William Woodgrift sold 2,500 shares of Abbott Laboratories stock in a transaction on Friday, September 11th. The shares were sold at an average price of $105.28, for a total value of $263,200.00. Following the completion of the transaction, the senior vice president now directly owns 46,267 shares of the company’s stock, valued at $4,870,989.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 119,483 shares of company stock worth $12,916,646. Insiders own 1.70% of the company’s stock.

Abbott Laboratories 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.

See Also: SEC Filing

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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