Summit Place Financial Advisors LLC Trims Stake in Abbott Laboratories (NYSE:ABT)

Summit Place Financial Advisors LLC decreased its position in shares of Abbott Laboratories (NYSE:ABT) by 2.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 25,698 shares of the healthcare product maker’s stock after selling 715 shares during the period. Abbott Laboratories comprises about 1.7% of Summit Place Financial Advisors LLC’s holdings, making the stock its 26th largest holding. Summit Place Financial Advisors LLC’s holdings in Abbott Laboratories were worth $2,907,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its position in shares of Abbott Laboratories by 25.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker’s stock worth $1,518,539,000 after purchasing an additional 2,711,586 shares in the last quarter. State Street Corp boosted its position in shares of Abbott Laboratories by 3.1% in the 3rd quarter. State Street Corp now owns 76,720,429 shares of the healthcare product maker’s stock worth $8,746,896,000 after purchasing an additional 2,323,807 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Abbott Laboratories by 13,194.9% in the 3rd quarter. International Assets Investment Management LLC now owns 1,679,805 shares of the healthcare product maker’s stock worth $191,515,000 after purchasing an additional 1,667,170 shares in the last quarter. Sessa Capital IM L.P. boosted its position in shares of Abbott Laboratories by 47.1% in the 3rd quarter. Sessa Capital IM L.P. now owns 3,749,502 shares of the healthcare product maker’s stock worth $427,481,000 after purchasing an additional 1,200,409 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in shares of Abbott Laboratories by 22,372.2% in the 4th quarter. Jennison Associates LLC now owns 1,201,364 shares of the healthcare product maker’s stock worth $135,886,000 after purchasing an additional 1,196,018 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $128.50, for a total value of $3,054,573.50. Following the completion of the sale, the executive vice president now owns 125,697 shares in the company, valued at approximately $16,152,064.50. This represents a 15.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.10% of the stock is currently owned by company insiders.

Abbott Laboratories Trading Down 0.4 %

NYSE:ABT opened at $130.12 on Wednesday. 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 $225.68 billion, a price-to-earnings ratio of 17.01, a price-to-earnings-growth ratio of 2.39 and a beta of 0.75. Abbott Laboratories has a one year low of $99.71 and a one year high of $132.65. The business has a fifty day moving average price of $119.57 and a 200-day moving average price of $116.42.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, hitting the consensus estimate of $1.34. The firm had revenue of $10.97 billion during the quarter, compared to analyst estimates of $11.03 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. Abbott Laboratories’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.19 EPS. Sell-side analysts forecast that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.81%. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date was Wednesday, January 15th. Abbott Laboratories’s dividend payout ratio is 30.85%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. StockNews.com cut Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. Stifel Nicolaus upped their price objective on Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $135.00 price objective on shares of Abbott Laboratories in a research report on Tuesday, January 21st. Argus raised Abbott Laboratories to a “strong-buy” rating in a research report on Tuesday, January 28th. Finally, Evercore ISI upped their price objective on Abbott Laboratories to $136.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.06.

Abbott Laboratories Profile

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.