Asset Management Corp IL ADV Reduces Position in Abbott Laboratories (NYSE:ABT)

Asset Management Corp IL ADV lessened its holdings in shares of Abbott Laboratories (NYSE:ABT) by 4.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,577 shares of the healthcare product maker’s stock after selling 502 shares during the period. Asset Management Corp IL ADV’s holdings in Abbott Laboratories were worth $1,268,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Atlas Private Wealth Advisors boosted its holdings in shares of Abbott Laboratories by 107.3% in the fourth quarter. Atlas Private Wealth Advisors now owns 228 shares of the healthcare product maker’s stock valued at $25,000 after purchasing an additional 118 shares during the period. Inspire Advisors LLC purchased a new stake in shares of Abbott Laboratories in the fourth quarter valued at approximately $29,000. Black Swift Group LLC purchased a new stake in shares of Abbott Laboratories in the fourth quarter valued at approximately $35,000. Krane Funds Advisors LLC purchased a new stake in shares of Abbott Laboratories in the fourth quarter valued at approximately $39,000. Finally, PrairieView Partners LLC purchased a new stake in shares of Abbott Laboratories in the fourth quarter valued at approximately $41,000. Institutional investors and hedge funds own 72.58% of the company’s stock.

A number of analysts recently issued reports on the company. BTIG Research upgraded Abbott Laboratories from a “neutral” rating to a “buy” rating and set a $140.00 price target for the company in a report on Thursday, January 28th. Morgan Stanley upped their target price on Abbott Laboratories from $136.00 to $140.00 and gave the stock an “overweight” rating in a report on Tuesday, April 27th. Atlantic Securities started coverage on Abbott Laboratories in a report on Wednesday, April 21st. They set a “neutral” rating and a $122.00 target price for the company. Cowen upped their target price on Abbott Laboratories from $113.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, January 28th. Finally, Wells Fargo & Company upped their target price on Abbott Laboratories from $128.00 to $137.00 in a report on Thursday, January 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $126.06.

Shares of ABT stock traded down $1.73 during trading hours on Wednesday, reaching $116.66. 65,883 shares of the company’s stock were exchanged, compared to its average volume of 5,213,935. The company has a current ratio of 1.70, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The stock’s 50 day moving average is $120.91 and its 200-day moving average is $115.60. Abbott Laboratories has a fifty-two week low of $86.16 and a fifty-two week high of $128.54. The company has a market cap of $207.28 billion, a price-to-earnings ratio of 62.64, a P/E/G ratio of 2.06 and a beta of 0.83.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Monday, April 19th. The healthcare product maker reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.05. Abbott Laboratories had a return on equity of 18.19% and a net margin of 10.50%. The firm had revenue of $10.45 billion for the quarter, compared to the consensus estimate of $10.72 billion. During the same period in the prior year, the firm earned $0.65 EPS. The firm’s revenue was up 35.2% on a year-over-year basis. Equities analysts anticipate that Abbott Laboratories will post 3.57 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, May 17th. Investors of record on Thursday, April 15th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Wednesday, April 14th. Abbott Laboratories’s payout ratio is 55.56%.

In other Abbott Laboratories news, EVP Mary K. Moreland sold 505 shares of the stock in a transaction dated Tuesday, February 16th. The stock was sold at an average price of $128.49, for a total transaction of $64,887.45. Following the sale, the executive vice president now directly owns 63,878 shares of the company’s stock, valued at approximately $8,207,684.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Andrea F. Wainer sold 587 shares of the stock in a transaction dated Monday, March 1st. The stock was sold at an average price of $120.61, for a total value of $70,798.07. Following the sale, the executive vice president now directly owns 58,337 shares in the company, valued at $7,036,025.57. The disclosure for this sale can be found here. Over the last three months, insiders sold 103,302 shares of company stock worth $12,403,893. 1.70% of the stock is owned by insiders.

Abbott Laboratories Company Profile

Abbott Laboratories 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 Established Pharmaceutical Products segment 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.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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