Segall Bryant & Hamill LLC decreased its position in shares of Abbott Laboratories (NYSE:ABT) by 0.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 607,370 shares of the healthcare product maker’s stock after selling 2,502 shares during the period. Abbott Laboratories accounts for about 0.8% of Segall Bryant & Hamill LLC’s investment portfolio, making the stock its 27th largest holding. Segall Bryant & Hamill LLC’s holdings in Abbott Laboratories were worth $43,931,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in ABT. Oregon Public Employees Retirement Fund raised its holdings in Abbott Laboratories by 7,559.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 30,095,862 shares of the healthcare product maker’s stock worth $416,000 after purchasing an additional 29,702,943 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Abbott Laboratories by 102,159.4% during the third quarter. Bank of New York Mellon Corp now owns 27,234,758 shares of the healthcare product maker’s stock worth $1,997,943,000 after purchasing an additional 27,208,125 shares in the last quarter. BlackRock Inc. raised its holdings in Abbott Laboratories by 3.3% during the fourth quarter. BlackRock Inc. now owns 121,045,590 shares of the healthcare product maker’s stock worth $8,755,228,000 after purchasing an additional 3,842,101 shares in the last quarter. Sustainable Growth Advisers LP grew its position in Abbott Laboratories by 147.4% in the fourth quarter. Sustainable Growth Advisers LP now owns 4,390,018 shares of the healthcare product maker’s stock worth $317,530,000 after buying an additional 2,615,446 shares during the last quarter. Finally, Vanguard Group Inc grew its position in Abbott Laboratories by 1.6% in the third quarter. Vanguard Group Inc now owns 139,012,321 shares of the healthcare product maker’s stock worth $10,197,944,000 after buying an additional 2,208,781 shares during the last quarter. 75.17% of the stock is currently owned by hedge funds and other institutional investors.
In other Abbott Laboratories news, SVP Jared Watkin sold 1,391 shares of Abbott Laboratories stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $78.00, for a total transaction of $108,498.00. Following the transaction, the senior vice president now directly owns 75,926 shares in the company, valued at approximately $5,922,228. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Brian B. Yoor sold 2,246 shares of Abbott Laboratories stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $78.00, for a total transaction of $175,188.00. Following the transaction, the chief financial officer now owns 116,627 shares in the company, valued at $9,096,906. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 280,021 shares of company stock worth $20,485,856. Corporate insiders own 0.70% of the company’s stock.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.02. Abbott Laboratories had a net margin of 8.53% and a return on equity of 16.91%. The firm had revenue of $7.54 billion for the quarter, compared to analysts’ expectations of $7.49 billion. During the same period in the previous year, the company posted $0.59 EPS. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. Sell-side analysts predict that Abbott Laboratories will post 3.21 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 given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.73%. The ex-dividend date is Friday, April 12th. Abbott Laboratories’s payout ratio is 44.44%.
ABT has been the topic of several recent research reports. Morgan Stanley lifted their price target on shares of Abbott Laboratories from $82.00 to $85.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 2nd. Citigroup lowered shares of Abbott Laboratories from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $72.00 to $68.00 in a research report on Wednesday, January 2nd. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research report on Monday, January 28th. Bank of America restated a “buy” rating and issued a $81.00 price target (up previously from $73.00) on shares of Abbott Laboratories in a research report on Thursday, February 7th. Finally, Argus lifted their price target on shares of Abbott Laboratories to $90.00 and gave the stock an “in-line” rating in a research report on Friday, January 25th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen 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 $80.48.
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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