Abbott Laboratories (NYSE:ABT) Holdings Reduced by MetLife Investment Advisors LLC

MetLife Investment Advisors LLC decreased its position in Abbott Laboratories (NYSE:ABT) by 0.6% in the 1st quarter, Holdings Channel reports. The firm owned 499,197 shares of the healthcare product maker’s stock after selling 3,021 shares during the period. MetLife Investment Advisors LLC’s holdings in Abbott Laboratories were worth $39,906,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Bank OZK boosted its holdings in shares of Abbott Laboratories by 0.5% in the first quarter. Bank OZK now owns 24,326 shares of the healthcare product maker’s stock valued at $1,944,000 after acquiring an additional 133 shares in the last quarter. First Command Bank boosted its holdings in shares of Abbott Laboratories by 2.5% in the first quarter. First Command Bank now owns 6,101 shares of the healthcare product maker’s stock valued at $488,000 after acquiring an additional 146 shares in the last quarter. Pinkerton Retirement Specialists LLC boosted its holdings in shares of Abbott Laboratories by 0.3% in the fourth quarter. Pinkerton Retirement Specialists LLC now owns 49,500 shares of the healthcare product maker’s stock valued at $3,580,000 after acquiring an additional 147 shares in the last quarter. Delta Asset Management LLC TN boosted its holdings in shares of Abbott Laboratories by 1.3% in the fourth quarter. Delta Asset Management LLC TN now owns 11,614 shares of the healthcare product maker’s stock valued at $840,000 after acquiring an additional 150 shares in the last quarter. Finally, Annex Advisory Services LLC boosted its holdings in shares of Abbott Laboratories by 1.0% in the fourth quarter. Annex Advisory Services LLC now owns 15,089 shares of the healthcare product maker’s stock valued at $1,091,000 after acquiring an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 73.36% of the company’s stock.

ABT stock opened at $82.22 on Monday. Abbott Laboratories has a 12 month low of $60.31 and a 12 month high of $82.86. The company has a market cap of $145.05 billion, a P/E ratio of 28.55, a price-to-earnings-growth ratio of 2.31 and a beta of 1.08. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.61.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.63 EPS for the quarter, beating the consensus estimate of $0.61 by $0.02. Abbott Laboratories had a net margin of 8.53% and a return on equity of 16.86%. The business had revenue of $7.54 billion during the quarter, compared to analyst estimates of $7.49 billion. During the same period in the prior year, the business earned $0.59 earnings per share. The business’s quarterly revenue was up 2.0% on a year-over-year basis. Equities analysts predict that Abbott Laboratories will post 3.22 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.80%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.32. Abbott Laboratories’s dividend payout ratio is 44.44%.

Several research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a report on Monday, May 20th. Bank of America reiterated a “buy” rating and issued a $81.00 price objective on shares of Abbott Laboratories in a report on Thursday. Wells Fargo & Co increased their price objective on shares of Abbott Laboratories from $89.00 to $91.00 and gave the company an “outperform” rating in a report on Thursday. William Blair reissued an “outperform” rating on shares of Abbott Laboratories in a research note on Thursday, April 18th. Finally, Barclays set a $84.00 target price on shares of Abbott Laboratories and gave the company a “buy” rating in a research note on Friday, March 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $80.89.

In related news, insider Joseph J. Manning sold 5,613 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $79.58, for a total value of $446,682.54. Following the completion of the sale, the insider now owns 56,029 shares in the company, valued at approximately $4,458,787.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Brian J. Blaser sold 450,062 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $75.52, for a total transaction of $33,988,682.24. Following the completion of the sale, the insider now owns 295,745 shares of the company’s stock, valued at approximately $22,334,662.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 922,623 shares of company stock valued at $70,308,258. 0.70% of the stock is owned by insiders.

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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 symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

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

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