CSM Advisors LLC Cuts Position in Abbott Laboratories (NYSE:ABT)

CSM Advisors LLC trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT) by 2.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 98,001 shares of the healthcare product maker’s stock after selling 2,595 shares during the quarter. CSM Advisors LLC’s holdings in Abbott Laboratories were worth $11,085,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of ABT. Welch Group LLC boosted its holdings in shares of Abbott Laboratories by 5.3% in the 4th quarter. Welch Group LLC now owns 68,653 shares of the healthcare product maker’s stock worth $7,744,000 after buying an additional 3,479 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its position in shares of Abbott Laboratories by 5.5% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,095,443 shares of the healthcare product maker’s stock valued at $133,691,000 after acquiring an additional 57,499 shares during the period. Bath Savings Trust Co increased its stake in shares of Abbott Laboratories by 3.7% during the 4th quarter. Bath Savings Trust Co now owns 166,132 shares of the healthcare product maker’s stock worth $18,791,000 after purchasing an additional 5,881 shares during the last quarter. Bank Pictet & Cie Europe AG raised its holdings in shares of Abbott Laboratories by 1.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker’s stock worth $17,274,000 after purchasing an additional 2,774 shares during the period. Finally, Pensionfund Sabic purchased a new position in Abbott Laboratories in the fourth quarter valued at approximately $2,828,000. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Price Performance

Shares of NYSE:ABT opened at $131.81 on Wednesday. Abbott Laboratories has a one year low of $99.71 and a one year high of $141.23. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. The firm has a market capitalization of $228.60 billion, a price-to-earnings ratio of 17.23, a PEG ratio of 2.52 and a beta of 0.80. The company’s fifty day moving average price is $130.61 and its 200-day moving average price is $122.15.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The business had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.38 billion. On average, equities research analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.79%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories’s dividend payout ratio is currently 30.61%.

Insiders Place Their Bets

In related news, EVP Lisa D. Earnhardt sold 91,167 shares of Abbott Laboratories stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $133.82, for a total value of $12,199,967.94. Following the transaction, the executive vice president now owns 71,928 shares in the company, valued at $9,625,404.96. This trade represents a 55.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the sale, the executive vice president now owns 125,697 shares of the company’s stock, valued at approximately $16,152,064.50. The trade was a 15.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 116,449 shares of company stock valued at $15,463,316. 0.46% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on Abbott Laboratories from $136.00 to $147.00 and gave the company an “overweight” rating in a research note on Thursday, April 17th. UBS Group upped their price target on shares of Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Citigroup lifted their price objective on shares of Abbott Laboratories from $135.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Argus raised Abbott Laboratories to a “strong-buy” rating in a report on Tuesday, January 28th. Finally, Royal Bank of Canada boosted their price objective on Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” rating in a research note on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.59.

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.