Abbott Laboratories (NYSE:ABT) Position Cut by Nichols & Pratt Advisers LLP MA

Nichols & Pratt Advisers LLP MA trimmed its position in Abbott Laboratories (NYSE:ABT) by 1.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 60,586 shares of the healthcare product maker’s stock after selling 1,075 shares during the period. Nichols & Pratt Advisers LLP MA’s holdings in Abbott Laboratories were worth $4,382,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Csenge Advisory Group purchased a new position in shares of Abbott Laboratories during the 3rd quarter valued at about $31,000. 1 North Wealth Services LLC purchased a new position in shares of Abbott Laboratories during the 4th quarter valued at about $33,000. Brand Asset Management Group Inc. lifted its position in shares of Abbott Laboratories by 66.7% during the 4th quarter. Brand Asset Management Group Inc. now owns 500 shares of the healthcare product maker’s stock valued at $36,000 after buying an additional 200 shares in the last quarter. Exane Derivatives purchased a new position in shares of Abbott Laboratories during the 4th quarter valued at about $42,000. Finally, Hirtle Callaghan & Co LLC purchased a new position in shares of Abbott Laboratories during the 4th quarter valued at about $47,000. 75.16% of the stock is currently owned by hedge funds and other institutional investors.

ABT has been the topic of a number of analyst reports. Citigroup cut Abbott Laboratories from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $72.00 to $68.00 in a research report on Wednesday, January 2nd. Zacks Investment Research downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, March 5th. Bank of America reissued a “buy” rating and set a $81.00 target price (up previously from $73.00) on shares of Abbott Laboratories in a research note on Thursday, February 7th. Wells Fargo & Co reissued a “buy” rating on shares of Abbott Laboratories in a research note on Thursday, March 14th. Finally, Morgan Stanley lifted their target price on Abbott Laboratories from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, January 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have issued a buy rating to the company. Abbott Laboratories currently has a consensus rating of “Buy” and an average target price of $80.48.

ABT traded down $0.51 on Monday, hitting $77.50. 5,613,832 shares of the company’s stock traded hands, compared to its average volume of 6,080,304. The company has a current ratio of 1.62, a quick ratio of 1.20 and a debt-to-equity ratio of 0.63. Abbott Laboratories has a one year low of $56.81 and a one year high of $80.74. The company has a market capitalization of $137.90 billion, a PE ratio of 26.91, a price-to-earnings-growth ratio of 2.09 and a beta of 1.13.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, January 23rd. The healthcare product maker reported $0.81 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.81. Abbott Laboratories had a return on equity of 16.55% and a net margin of 7.74%. The business had revenue of $7.77 billion for the quarter, compared to the consensus estimate of $7.82 billion. During the same quarter in the previous year, the company posted $0.74 EPS. The company’s revenue was up 2.3% compared to the same quarter last year. Equities research analysts predict that Abbott Laboratories will post 3.2 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Friday, April 12th. Abbott Laboratories’s payout ratio is 44.44%.

In other Abbott Laboratories news, insider Jaime Contreras sold 177,457 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, January 30th. The stock was sold at an average price of $70.00, for a total value of $12,421,990.00. Following the sale, the insider now owns 100,985 shares of the company’s stock, valued at approximately $7,068,950. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Joseph J. Manning sold 5,613 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $79.58, for a total value of $446,682.54. Following the completion of the sale, the insider now directly owns 56,029 shares in the company, valued at approximately $4,458,787.82. The disclosure for this sale can be found here. In the last ninety days, insiders sold 280,021 shares of company stock worth $20,485,856. Corporate insiders own 0.70% of the company’s stock.

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Abbott Laboratories Company Profile

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 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.

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

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