Abbott Laboratories (NYSE:ABT) Stake Decreased by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in shares of Abbott Laboratories (NYSE:ABT) by 10.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,361,809 shares of the healthcare product maker’s stock after selling 2,872,949 shares during the period. Bank of New York Mellon Corp owned 1.39% of Abbott Laboratories worth $1,762,089,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Alerus Financial NA purchased a new position in Abbott Laboratories in the 4th quarter worth $1,593,000. M&R Capital Management Inc. raised its position in Abbott Laboratories by 1.5% in the 4th quarter. M&R Capital Management Inc. now owns 25,957 shares of the healthcare product maker’s stock worth $1,877,000 after purchasing an additional 381 shares during the period. Woodstock Corp raised its position in Abbott Laboratories by 6.3% in the 4th quarter. Woodstock Corp now owns 121,248 shares of the healthcare product maker’s stock worth $8,770,000 after purchasing an additional 7,235 shares during the period. Eagle Ridge Investment Management increased its position in shares of Abbott Laboratories by 0.9% in the fourth quarter. Eagle Ridge Investment Management now owns 178,095 shares of the healthcare product maker’s stock valued at $12,882,000 after acquiring an additional 1,606 shares during the period. Finally, Burns J W & Co. Inc. NY increased its position in shares of Abbott Laboratories by 63.5% in the fourth quarter. Burns J W & Co. Inc. NY now owns 40,896 shares of the healthcare product maker’s stock valued at $2,958,000 after acquiring an additional 15,890 shares during the period. Institutional investors own 75.17% of the company’s stock.

NYSE:ABT traded up $1.04 during mid-day trading on Friday, hitting $73.92. 9,712,196 shares of the company’s stock were exchanged, compared to its average volume of 5,503,201. Abbott Laboratories has a one year low of $56.81 and a one year high of $80.74. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.62 and a quick ratio of 1.20. The firm has a market capitalization of $129.84 billion, a P/E ratio of 25.67, a PEG ratio of 1.96 and a beta of 1.13.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.63 EPS 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 business had revenue of $7.54 billion for the quarter, compared to analyst estimates of $7.49 billion. During the same quarter in the previous year, the firm posted $0.59 earnings per share. Abbott Laboratories’s quarterly revenue was up 2.0% on a year-over-year basis. On average, equities research analysts expect that Abbott Laboratories will post 3.21 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be paid a $0.32 dividend. The ex-dividend date is Friday, April 12th. This represents a $1.28 annualized dividend and a dividend yield of 1.73%. Abbott Laboratories’s dividend payout ratio is presently 44.44%.

In other news, insider Jaime Contreras sold 177,457 shares of the business’s stock in a transaction that occurred on Wednesday, January 30th. The shares were sold at an average price of $70.00, for a total transaction of $12,421,990.00. Following the completion of the transaction, the insider now directly owns 100,985 shares of the company’s stock, valued at $7,068,950. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian B. Yoor sold 2,246 shares of the business’s 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 $175,188.00. Following the transaction, the chief financial officer now directly owns 116,627 shares of the company’s stock, valued at $9,096,906. The disclosure for this sale can be found here. In the last quarter, insiders sold 280,021 shares of company stock worth $20,485,856. Insiders own 0.70% of the company’s stock.

ABT has been the topic of a number of analyst reports. Morgan Stanley boosted their price objective on shares of Abbott Laboratories from $82.00 to $85.00 and gave the company an “overweight” rating in a research report on Wednesday, January 2nd. Citigroup cut shares of Abbott Laboratories from a “neutral” rating to a “sell” rating and decreased their price objective for the company 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 objective on the stock in a research report on Monday, January 28th. Bank of America restated a “buy” rating and issued a $81.00 price objective (up previously from $73.00) on shares of Abbott Laboratories in a research report on Thursday, February 7th. Finally, Argus boosted their price objective on shares of Abbott Laboratories to $90.00 and gave the company an “in-line” rating in a research report on Friday, January 25th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $80.48.

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Abbott Laboratories 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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