Metropolitan Life Insurance Co NY Sells 10,652 Shares of Abbott Laboratories (NYSE:ABT)

Metropolitan Life Insurance Co NY decreased its holdings in Abbott Laboratories (NYSE:ABT) by 4.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 238,586 shares of the healthcare product maker’s stock after selling 10,652 shares during the quarter. Metropolitan Life Insurance Co NY’s holdings in Abbott Laboratories were worth $19,072,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in ABT. Front Row Advisors LLC grew its holdings in shares of Abbott Laboratories by 790.9% in the 1st quarter. Front Row Advisors LLC now owns 392 shares of the healthcare product maker’s stock worth $31,000 after purchasing an additional 348 shares during the last quarter. Dixon Hubard Feinour & Brown Inc. VA grew its holdings in shares of Abbott Laboratories by 10.4% in the 1st quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 8,065 shares of the healthcare product maker’s stock worth $645,000 after purchasing an additional 760 shares during the last quarter. M Holdings Securities Inc. grew its holdings in shares of Abbott Laboratories by 164.6% in the 1st quarter. M Holdings Securities Inc. now owns 29,249 shares of the healthcare product maker’s stock worth $2,338,000 after purchasing an additional 18,196 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Abbott Laboratories by 55.7% in the 1st quarter. Nordea Investment Management AB now owns 400,111 shares of the healthcare product maker’s stock worth $31,986,000 after purchasing an additional 143,059 shares during the last quarter. Finally, EP Wealth Advisors LLC grew its holdings in shares of Abbott Laboratories by 36.2% in the 1st quarter. EP Wealth Advisors LLC now owns 7,713 shares of the healthcare product maker’s stock worth $617,000 after purchasing an additional 2,048 shares during the last quarter. Institutional investors own 73.36% of the company’s stock.

Several research firms have recently weighed in on ABT. Wells Fargo & Co upped their target price on shares of Abbott Laboratories from $89.00 to $91.00 and gave the stock an “outperform” rating in a report on Thursday. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a report on Friday, May 10th. Barclays set a $84.00 target price on shares of Abbott Laboratories and gave the stock a “buy” rating in a report on Friday, March 8th. William Blair reaffirmed an “outperform” rating on shares of Abbott Laboratories in a report on Thursday, April 18th. Finally, Bank of America reaffirmed a “buy” rating and issued a $81.00 target price on shares of Abbott Laboratories in a report on Thursday. One research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $80.89.

Shares of NYSE:ABT opened at $82.57 on Monday. Abbott Laboratories has a 12 month low of $60.31 and a 12 month high of $82.86. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.13 and a current ratio of 1.58. The stock has a market cap of $145.05 billion, a price-to-earnings ratio of 28.67, a P/E/G ratio of 2.31 and a beta of 1.08.

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

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.79%. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.32. Abbott Laboratories’s dividend payout ratio (DPR) is 44.44%.

In other news, insider Brian J. Blaser sold 450,062 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $75.52, for a total value of $33,988,682.24. Following the transaction, the insider now owns 295,745 shares of the company’s stock, valued at approximately $22,334,662.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jaime Contreras sold 82,732 shares of the firm’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $70.00, for a total transaction of $5,791,240.00. Following the completion of the transaction, the senior vice president now directly owns 80,722 shares in the company, valued at approximately $5,650,540. The disclosure for this sale can be found here. Insiders sold a total of 922,623 shares of company stock worth $70,308,258 in the last ninety days. Insiders own 0.70% of the company’s stock.

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About Abbott Laboratories

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.

Further Reading: Book Value Per Share – BVPS

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

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