Abbrea Capital LLC Reduces Stock Holdings in Abbott Laboratories (NYSE:ABT)

Abbrea Capital LLC cut its holdings in shares of Abbott Laboratories (NYSE:ABT) by 0.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 33,545 shares of the healthcare product maker’s stock after selling 305 shares during the quarter. Abbrea Capital LLC’s holdings in Abbott Laboratories were worth $3,692,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP boosted its position in Abbott Laboratories by 4.3% during the 3rd quarter. Wellington Management Group LLP now owns 31,208,711 shares of the healthcare product maker’s stock worth $3,022,564,000 after acquiring an additional 1,298,219 shares during the period. Northern Trust Corp raised its position in Abbott Laboratories by 1.5% during the third quarter. Northern Trust Corp now owns 23,016,235 shares of the healthcare product maker’s stock valued at $2,229,122,000 after buying an additional 343,559 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Abbott Laboratories by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,153,877 shares of the healthcare product maker’s stock valued at $1,164,611,000 after purchasing an additional 32,157 shares in the last quarter. Flossbach Von Storch AG boosted its stake in shares of Abbott Laboratories by 1.5% during the 4th quarter. Flossbach Von Storch AG now owns 9,149,611 shares of the healthcare product maker’s stock worth $1,007,098,000 after acquiring an additional 135,821 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Abbott Laboratories by 0.4% during the 3rd quarter. Invesco Ltd. now owns 5,949,700 shares of the healthcare product maker’s stock valued at $576,228,000 after purchasing an additional 20,851 shares during the period. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Stock Up 0.6 %

Shares of ABT stock traded up $0.67 on Friday, hitting $107.53. The stock had a trading volume of 3,562,799 shares, compared to its average volume of 5,660,822. The company has a market cap of $186.58 billion, a PE ratio of 33.22, a P/E/G ratio of 2.57 and a beta of 0.74. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.35. The business has a 50 day moving average price of $113.77 and a 200 day moving average price of $107.96. Abbott Laboratories has a one year low of $89.67 and a one year high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. Abbott Laboratories had a return on equity of 20.32% and a net margin of 13.96%. The firm had revenue of $9.96 billion for the quarter, compared to analyst estimates of $9.88 billion. During the same quarter in the prior year, the firm earned $1.03 earnings per share. Abbott Laboratories’s revenue for the quarter was up 2.2% on a year-over-year basis. Research analysts anticipate that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date is Friday, April 12th. Abbott Laboratories’s dividend payout ratio is presently 68.54%.

Wall Street Analysts Forecast Growth

ABT has been the topic of a number of research analyst reports. Barclays decreased their price target on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a research report on Monday. Citigroup lifted their target price on Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Evercore ISI boosted their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Raymond James restated a “buy” rating and set a $124.00 price objective on shares of Abbott Laboratories in a research report on Wednesday. Finally, Royal Bank of Canada lowered their price target on shares of Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a report on Thursday, April 18th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $121.50.

Insider Activity at Abbott Laboratories

In other news, EVP Andrea F. Wainer sold 42,500 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $112.50, for a total transaction of $4,781,250.00. Following the sale, the executive vice president now owns 65,027 shares of the company’s stock, valued at approximately $7,315,537.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Andrea F. Wainer sold 12,500 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $120.00, for a total value of $1,500,000.00. Following the transaction, the executive vice president now owns 78,704 shares of the company’s stock, valued at $9,444,480. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Andrea F. Wainer sold 42,500 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $112.50, for a total value of $4,781,250.00. Following the completion of the transaction, the executive vice president now directly owns 65,027 shares in the company, valued at approximately $7,315,537.50. The disclosure for this sale can be found here. Insiders sold 56,435 shares of company stock worth $6,451,298 in the last three months. 1.10% of the stock is owned by company insiders.

Abbott Laboratories Company 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.