Abbott Laboratories (NYSE:ABT) Holdings Reduced by Genesee Valley Trust Co.

Genesee Valley Trust Co. lessened its stake in Abbott Laboratories (NYSE:ABT) by 56.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,083 shares of the healthcare product maker’s stock after selling 10,501 shares during the quarter. Genesee Valley Trust Co.’s holdings in Abbott Laboratories were worth $461,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Abbott Laboratories by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 129,786,955 shares of the healthcare product maker’s stock valued at $6,308,944,000 after buying an additional 3,241,063 shares during the last quarter. Capital Research Global Investors lifted its stake in Abbott Laboratories by 45.7% during the second quarter. Capital Research Global Investors now owns 47,589,663 shares of the healthcare product maker’s stock worth $2,313,334,000 after purchasing an additional 14,918,038 shares during the last quarter. Northern Trust Corp lifted its stake in Abbott Laboratories by 3.1% during the second quarter. Northern Trust Corp now owns 26,865,706 shares of the healthcare product maker’s stock worth $1,305,942,000 after purchasing an additional 809,732 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Abbott Laboratories by 28.6% during the second quarter. Dimensional Fund Advisors LP now owns 11,722,088 shares of the healthcare product maker’s stock worth $569,830,000 after purchasing an additional 2,606,404 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its stake in Abbott Laboratories by 7.7% during the second quarter. Alliancebernstein L.P. now owns 11,607,121 shares of the healthcare product maker’s stock worth $564,222,000 after purchasing an additional 830,610 shares during the last quarter. Hedge funds and other institutional investors own 72.37% of the company’s stock.

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In other Abbott Laboratories news, insider Stephen R. Fussell sold 56,401 shares of Abbott Laboratories stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $59.61, for a total value of $3,362,063.61. Following the transaction, the insider now directly owns 184,884 shares of the company’s stock, valued at approximately $11,020,935.24. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Daniel J. Starks acquired 40,037 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were purchased at an average cost of $60.67 per share, for a total transaction of $2,429,044.79. Following the acquisition, the director now directly owns 6,943,348 shares in the company, valued at approximately $421,252,923.16. The disclosure for this purchase can be found here. Insiders sold a total of 124,261 shares of company stock worth $7,559,987 over the last three months. 0.74% of the stock is owned by company insiders.

Several equities research analysts have weighed in on the company. Wells Fargo increased their target price on Abbott Laboratories from $66.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Leerink Swann reaffirmed a “market perform” rating on shares of Abbott Laboratories in a research report on Friday, January 19th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $67.00 target price on shares of Abbott Laboratories in a research report on Thursday, January 25th. Citigroup raised their price target on Abbott Laboratories from $59.00 to $64.00 and gave the company a “neutral” rating in a report on Tuesday, January 30th. Finally, Stifel Nicolaus raised their price target on Abbott Laboratories from $63.00 to $71.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Seven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $65.47.

Shares of ABT traded down $2.29 during midday trading on Friday, reaching $57.57. 7,447,045 shares of the stock were exchanged, compared to its average volume of 6,079,406. Abbott Laboratories has a 12-month low of $42.31 and a 12-month high of $64.60. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.86. The company has a market capitalization of $104,535.55, a PE ratio of 23.03, a price-to-earnings-growth ratio of 1.78 and a beta of 1.50.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.01. Abbott Laboratories had a return on equity of 13.88% and a net margin of 1.74%. The business had revenue of $7.59 billion for the quarter, compared to the consensus estimate of $7.38 billion. During the same period last year, the business earned $0.65 EPS. The firm’s revenue was up 42.3% compared to the same quarter last year. equities research analysts expect that Abbott Laboratories will post 2.86 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Friday, April 13th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date is Thursday, April 12th. Abbott Laboratories’s payout ratio is 44.80%.

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Abbott Laboratories Profile

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.

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

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