Abbott Laboratories (ABT) Shares Sold by CHURCHILL MANAGEMENT Corp

CHURCHILL MANAGEMENT Corp lowered its stake in shares of Abbott Laboratories (NYSE:ABT) by 5.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,147 shares of the healthcare product maker’s stock after selling 2,587 shares during the period. CHURCHILL MANAGEMENT Corp’s holdings in Abbott Laboratories were worth $3,929,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in ABT. 1 North Wealth Services LLC purchased a new position in shares of Abbott Laboratories during the fourth quarter valued at approximately $33,000. Brand Asset Management Group Inc. lifted its stake in shares of Abbott Laboratories by 66.7% during the fourth 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 during the period. Beacon Capital Management Inc. purchased a new position in shares of Abbott Laboratories during the first quarter valued at approximately $38,000. Exane Derivatives purchased a new position in shares of Abbott Laboratories during the fourth quarter valued at approximately $42,000. Finally, Clarfeld Financial Advisors LLC purchased a new position in shares of Abbott Laboratories during the fourth quarter valued at approximately $43,000. 75.29% of the stock is currently owned by hedge funds and other institutional investors.

In related news, CFO Brian B. Yoor sold 2,246 shares of the company’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 completion of the transaction, the chief financial officer now owns 116,627 shares of the company’s stock, valued at $9,096,906. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jaime Contreras sold 82,732 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $70.00, for a total transaction of $5,791,240.00. Following the transaction, the senior vice president now directly owns 80,722 shares of the company’s stock, valued at approximately $5,650,540. The disclosure for this sale can be found here. Insiders have sold 551,643 shares of company stock valued at $42,471,501 in the last ninety days. 0.70% of the stock is currently owned by company insiders.

Several equities analysts recently issued reports on ABT shares. 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 research note on Monday, January 28th. Bank of America reissued a “buy” rating and set a $81.00 price objective (up previously from $73.00) on shares of Abbott Laboratories in a research note on Thursday, February 7th. Argus upped their price objective on shares of Abbott Laboratories to $90.00 and gave the company an “in-line” rating in a research note on Friday, January 25th. They noted that the move was a valuation call. BTIG Research reissued a “hold” rating on shares of Abbott Laboratories in a research note on Thursday, January 24th. Finally, Barclays set a $84.00 price objective on shares of Abbott Laboratories and gave the company a “buy” rating in a research note on Friday, March 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $80.36.

Shares of ABT stock opened at $75.50 on Tuesday. Abbott Laboratories has a one year low of $60.31 and a one year high of $80.74. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.61. The company has a market cap of $134.82 billion, a P/E ratio of 26.22, a P/E/G ratio of 2.15 and a beta of 1.11.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results 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 16.86%. The firm had revenue of $7.54 billion during the quarter, compared to analyst estimates of $7.49 billion. During the same quarter in the prior year, the business posted $0.59 earnings per share. Abbott Laboratories’s revenue for the quarter was up 2.0% compared to the same quarter last year. Research analysts anticipate that Abbott Laboratories will post 3.22 EPS 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 dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.70%. The ex-dividend date is Friday, April 12th. Abbott Laboratories’s dividend payout ratio (DPR) is 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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