Abbott Laboratories (ABT) Shares Sold by Virginia Retirement Systems ET AL

Virginia Retirement Systems ET AL cut its position in Abbott Laboratories (NYSE:ABT) by 28.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 109,500 shares of the healthcare product maker’s stock after selling 43,400 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Abbott Laboratories were worth $5,843,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Legal & General Group Plc lifted its position in Abbott Laboratories by 1.0% during the 3rd quarter. Legal & General Group Plc now owns 8,741,837 shares of the healthcare product maker’s stock worth $466,468,000 after acquiring an additional 88,076 shares during the period. Jackson Wealth Management LLC lifted its position in Abbott Laboratories by 11.2% during the 3rd quarter. Jackson Wealth Management LLC now owns 30,499 shares of the healthcare product maker’s stock worth $1,690,000 after acquiring an additional 3,064 shares during the period. Eagle Asset Management Inc. lifted its position in Abbott Laboratories by 0.5% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,643,628 shares of the healthcare product maker’s stock worth $88,229,000 after acquiring an additional 7,889 shares during the period. Great West Life Assurance Co. Can lifted its position in Abbott Laboratories by 17.1% during the 3rd quarter. Great West Life Assurance Co. Can now owns 2,044,556 shares of the healthcare product maker’s stock worth $109,292,000 after acquiring an additional 299,039 shares during the period. Finally, Nordea Investment Management AB lifted its position in Abbott Laboratories by 0.9% during the 3rd quarter. Nordea Investment Management AB now owns 730,846 shares of the healthcare product maker’s stock worth $38,998,000 after acquiring an additional 6,595 shares during the period. 71.21% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have recently issued reports on the company. BTIG Research downgraded Abbott Laboratories from a “buy” rating to a “neutral” rating in a research note on Monday. They noted that the move was a valuation call. Leerink Swann reissued a “market perform” rating on shares of Abbott Laboratories in a research note on Friday. Barclays increased their target price on Abbott Laboratories from $57.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, September 28th. Zacks Investment Research downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Finally, BMO Capital Markets reissued a “hold” rating and set a $53.00 target price on shares of Abbott Laboratories in a research note on Monday, October 2nd. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Abbott Laboratories has an average rating of “Buy” and a consensus price target of $60.24.

Abbott Laboratories (NYSE ABT) opened at $59.31 on Monday. Abbott Laboratories has a one year low of $39.25 and a one year high of $59.68. The firm has a market capitalization of $103,235.05, a P/E ratio of 46.70, a P/E/G ratio of 1.89 and a beta of 1.06. The company has a quick ratio of 2.26, a current ratio of 2.69 and a debt-to-equity ratio of 0.72.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be paid a $0.28 dividend. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Thursday, January 11th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 88.19%.

In related news, Chairman Miles D. White sold 276,886 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $54.41, for a total value of $15,065,367.26. Following the completion of the transaction, the chairman now directly owns 3,677,913 shares of the company’s stock, valued at approximately $200,115,246.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian J. Blaser sold 23,866 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $55.55, for a total value of $1,325,756.30. Following the completion of the transaction, the insider now directly owns 146,387 shares of the company’s stock, valued at $8,131,797.85. The disclosure for this sale can be found here. Insiders sold a total of 404,569 shares of company stock valued at $22,103,095 over the last ninety days. 0.76% of the stock is currently owned by company insiders.

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Abbott Laboratories Profile

Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.

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

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