Abbott Laboratories (NYSE:ABT) Stake Lessened by Strategy Asset Managers LLC

Strategy Asset Managers LLC cut its stake in Abbott Laboratories (NYSE:ABT) by 1.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,337 shares of the healthcare product maker’s stock after selling 792 shares during the quarter. Strategy Asset Managers LLC’s holdings in Abbott Laboratories were worth $3,135,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund boosted its holdings in shares of Abbott Laboratories by 7,559.6% in 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 buying an additional 29,702,943 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Abbott Laboratories by 102,159.4% in 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 buying an additional 27,208,125 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Abbott Laboratories by 3.3% in the fourth quarter. BlackRock Inc. now owns 121,045,590 shares of the healthcare product maker’s stock worth $8,755,228,000 after buying an additional 3,842,101 shares during the last quarter. Sustainable Growth Advisers LP boosted its holdings in shares of 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 boosted its holdings in shares of 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. Hedge funds and other institutional investors own 75.29% of the company’s stock.

In other news, CFO Brian B. Yoor sold 2,246 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 $175,188.00. Following the sale, the chief financial officer now owns 116,627 shares in the company, valued at $9,096,906. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jared Watkin sold 309,429 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $78.51, for a total transaction of $24,293,270.79. Following the sale, the insider now owns 189,227 shares in the company, valued at approximately $14,856,211.77. The disclosure for this sale can be found here. In the last quarter, insiders have sold 551,643 shares of company stock worth $42,471,501. Company insiders own 0.70% of the company’s stock.

A number of equities analysts recently issued reports on ABT shares. Bank of America reissued a “buy” rating and issued a $81.00 price objective (up previously from $73.00) on shares of Abbott Laboratories in a report on Thursday, February 7th. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a report on Monday, January 28th. Royal Bank of Canada raised their price objective on shares of Abbott Laboratories to $82.00 and gave the stock a “buy” rating in a report on Monday, April 15th. They noted that the move was a valuation call. Wells Fargo & Co reaffirmed a “buy” rating on shares of Abbott Laboratories in a report on Thursday, March 14th. Finally, Barclays set a $84.00 price target on shares of Abbott Laboratories and gave the company a “buy” rating in a 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. The company presently has an average rating of “Buy” and an average target price of $80.36.

NYSE:ABT traded up $0.03 during trading hours on Friday, hitting $76.45. 3,993,531 shares of the stock traded hands, compared to its average volume of 5,623,304. The company has a market capitalization of $134.82 billion, a P/E ratio of 26.55, a P/E/G ratio of 2.15 and a beta of 1.11. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.58 and a quick ratio of 1.13. Abbott Laboratories has a 1 year low of $60.22 and a 1 year high of $80.74.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.02. The firm had revenue of $7.54 billion for the quarter, compared to analysts’ expectations of $7.49 billion. Abbott Laboratories had a net margin of 8.53% and a return on equity of 16.86%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.59 earnings per share. On average, sell-side analysts anticipate that Abbott Laboratories will post 3.22 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders 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 dividend yield of 1.67%. The ex-dividend date of this dividend is Friday, April 12th. Abbott Laboratories’s payout ratio is currently 44.44%.

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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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