Abbott Laboratories (ABT) Shares Sold by Grandfield & Dodd LLC

Grandfield & Dodd LLC lowered its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 16,952 shares of the healthcare product maker’s stock after selling 281 shares during the quarter. Grandfield & Dodd LLC’s holdings in Abbott Laboratories were worth $1,226,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of ABT. Csenge Advisory Group purchased a new stake in shares of Abbott Laboratories during the 3rd quarter worth $31,000. 1 North Wealth Services LLC acquired a new position in Abbott Laboratories during the 4th quarter valued at about $33,000. Brand Asset Management Group Inc. increased its position in 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 acquired a new position in Abbott Laboratories during the 4th quarter valued at about $42,000. Finally, Hirtle Callaghan & Co LLC acquired a new position in Abbott Laboratories during the 4th quarter valued at about $47,000. Institutional investors own 75.20% of the company’s stock.

NYSE:ABT opened at $78.56 on Friday. The firm has a market capitalization of $133.67 billion, a P/E ratio of 27.28, a P/E/G ratio of 1.97 and a beta of 1.13. The company has a quick ratio of 1.20, a current ratio of 1.62 and a debt-to-equity ratio of 0.63. Abbott Laboratories has a 12-month low of $56.81 and a 12-month high of $80.74.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.02. Abbott Laboratories had a return on equity of 16.91% and a net margin of 8.53%. The company had revenue of $7.54 billion during the quarter, compared to the consensus estimate of $7.49 billion. During the same period in the previous year, the business earned $0.59 EPS. Abbott Laboratories’s revenue for the quarter was up 2.0% on a year-over-year basis. Equities research analysts predict that Abbott Laboratories will post 3.21 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Friday, April 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.44%.

In other Abbott Laboratories news, Director John G. Stratton bought 3,455 shares of the business’s stock in a transaction that occurred on Thursday, January 31st. The shares were acquired at an average cost of $72.32 per share, for a total transaction of $249,865.60. Following the transaction, the director now directly owns 3,558 shares in the company, valued at $257,314.56. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jaime Contreras sold 177,457 shares of the firm’s stock in a transaction that occurred on Wednesday, January 30th. The stock was sold at an average price of $70.00, for a total transaction of $12,421,990.00. Following the transaction, the insider now owns 100,985 shares of the company’s stock, valued at approximately $7,068,950. The disclosure for this sale can be found here. Insiders sold a total of 336,939 shares of company stock worth $24,808,980 in the last 90 days. 0.70% of the stock is currently owned by insiders.

A number of research analysts have recently weighed in on the company. William Blair reissued an “outperform” rating on shares of Abbott Laboratories in a report on Thursday, April 18th. Royal Bank of Canada upped their target price on Abbott Laboratories to $82.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. They noted that the move was a valuation call. Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a research note on Tuesday, March 19th. Wells Fargo & Co reiterated a “buy” rating on shares of Abbott Laboratories in a research report on Thursday, March 14th. Finally, Barclays set a $84.00 price target on Abbott Laboratories and gave the stock a “buy” rating in a research report on Friday, March 8th. 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.

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About Abbott Laboratories

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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