Abbott Laboratories (NYSE:ABT) Holdings Decreased by Cary Street Partners Investment Advisory LLC

Cary Street Partners Investment Advisory LLC cut its position in shares of Abbott Laboratories (NYSE:ABT) by 69.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,360 shares of the healthcare product maker’s stock after selling 35,555 shares during the quarter. Cary Street Partners Investment Advisory LLC’s holdings in Abbott Laboratories were worth $1,691,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its position in shares of Abbott Laboratories by 14,037.9% during the 4th quarter. International Assets Investment Management LLC now owns 1,349,176 shares of the healthcare product maker’s stock valued at $148,504,000 after buying an additional 1,339,633 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Abbott Laboratories by 4.3% during the 3rd quarter. Wellington Management Group LLP now owns 31,208,711 shares of the healthcare product maker’s stock worth $3,022,564,000 after purchasing an additional 1,298,219 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Abbott Laboratories by 30.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 3,627,373 shares of the healthcare product maker’s stock worth $351,311,000 after purchasing an additional 853,997 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its position in Abbott Laboratories by 28.0% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 3,664,856 shares of the healthcare product maker’s stock worth $354,941,000 after buying an additional 801,191 shares during the period. Finally, Canada Pension Plan Investment Board lifted its stake in Abbott Laboratories by 47.7% in the third quarter. Canada Pension Plan Investment Board now owns 2,423,715 shares of the healthcare product maker’s stock valued at $234,737,000 after buying an additional 783,090 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Analysts Set New Price Targets

ABT has been the subject of several recent research reports. Royal Bank of Canada lowered their price target on shares of Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a research report on Thursday, April 18th. Citigroup raised their price target on shares of Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Evercore ISI boosted their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Barclays lowered their target price on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a research report on Monday, April 22nd. Finally, Raymond James reiterated a “buy” rating and set a $124.00 price target on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $121.50.

Insider Transactions at Abbott Laboratories

In related news, EVP Andrea F. Wainer sold 12,500 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $120.00, for a total value of $1,500,000.00. Following the completion of the sale, the executive vice president now directly owns 78,704 shares of the company’s stock, valued at approximately $9,444,480. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Andrea F. Wainer sold 12,500 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $120.00, for a total value of $1,500,000.00. Following the transaction, the executive vice president now owns 78,704 shares in the company, valued at approximately $9,444,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Daniel Gesua Sive Salvadori sold 963 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $114,115.50. Following the sale, the executive vice president now owns 125,697 shares of the company’s stock, valued at $14,895,094.50. The disclosure for this sale can be found here. Insiders sold a total of 13,935 shares of company stock valued at $1,670,048 over the last quarter. Company insiders own 0.47% of the company’s stock.

Abbott Laboratories Price Performance

Shares of NYSE:ABT traded down $1.05 on Tuesday, reaching $106.22. 1,847,272 shares of the company traded hands, compared to its average volume of 5,584,922. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.64 and a quick ratio of 1.16. The stock has a market capitalization of $184.31 billion, a PE ratio of 33.16, a P/E/G ratio of 2.59 and a beta of 0.74. The company’s 50 day moving average is $113.50 and its 200-day moving average is $108.34. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. Abbott Laboratories had a return on equity of 20.32% and a net margin of 13.96%. The business had revenue of $9.96 billion during the quarter, compared to analyst estimates of $9.88 billion. During the same quarter last year, the company posted $1.03 EPS. Abbott Laboratories’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, analysts anticipate that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

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 $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.07%. The ex-dividend date is Friday, April 12th. Abbott Laboratories’s payout ratio is 68.54%.

About Abbott Laboratories

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.