Abbott Laboratories (NYSE:ABT) Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT) by 0.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 222,164 shares of the healthcare product maker’s stock after selling 452 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Abbott Laboratories were worth $26,244,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Crewe Advisors LLC increased its stake in shares of Abbott Laboratories by 41.6% during the 3rd quarter. Crewe Advisors LLC now owns 286 shares of the healthcare product maker’s stock worth $34,000 after purchasing an additional 84 shares in the last quarter. Isthmus Partners LLC purchased a new position in shares of Abbott Laboratories during the 2nd quarter worth approximately $36,000. Itau Unibanco Holding S.A. purchased a new position in shares of Abbott Laboratories during the 2nd quarter worth approximately $39,000. Strategic Asset Management LLC acquired a new position in Abbott Laboratories in the 3rd quarter valued at $41,000. Finally, RPG Investment Advisory LLC acquired a new position in Abbott Laboratories in the third quarter valued at $42,000. 72.47% of the stock is owned by institutional investors and hedge funds.

In other news, EVP Andrea F. Wainer sold 4,500 shares of the stock in a transaction that occurred on Monday, December 6th. The shares were sold at an average price of $132.50, for a total value of $596,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Philip P. Boudreau sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, October 25th. The shares were sold at an average price of $126.49, for a total transaction of $1,011,920.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 75,177 shares of company stock valued at $10,185,128. Corporate insiders own 1.50% of the company’s stock.

ABT traded down $2.35 on Friday, reaching $127.30. The company had a trading volume of 184,465 shares, compared to its average volume of 5,507,423. The company has a fifty day moving average of $132.37 and a 200-day moving average of $125.89. The company has a market capitalization of $225.10 billion, a P/E ratio of 32.17, a PEG ratio of 2.37 and a beta of 0.72. The company has a current ratio of 1.83, a quick ratio of 1.42 and a debt-to-equity ratio of 0.50. Abbott Laboratories has a one year low of $105.36 and a one year high of $142.60.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Tuesday, October 19th. The healthcare product maker reported $1.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.46. Abbott Laboratories had a net margin of 17.12% and a return on equity of 28.39%. The company had revenue of $10.93 billion during the quarter, compared to analyst estimates of $9.56 billion. During the same quarter last year, the firm posted $0.98 EPS. The business’s revenue for the quarter was up 23.4% on a year-over-year basis. Research analysts predict that Abbott Laboratories will post 5.06 EPS for the current year.

Abbott Laboratories declared that its board has initiated a stock buyback program on Friday, December 10th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the healthcare product maker to buy up to 2.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 15th. Shareholders of record on Friday, January 14th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 1.48%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.45. The ex-dividend date is Thursday, January 13th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.67%.

ABT has been the topic of a number of research analyst reports. Raymond James decreased their price target on Abbott Laboratories from $150.00 to $134.00 in a research note on Thursday, December 23rd. Royal Bank of Canada began coverage on Abbott Laboratories in a report on Thursday, December 9th. They set an “outperform” rating and a $146.00 target price on the stock. Morgan Stanley raised their target price on Abbott Laboratories from $146.00 to $157.00 and gave the company an “overweight” rating in a report on Friday, January 7th. Cowen raised their target price on Abbott Laboratories from $140.00 to $150.00 in a report on Monday. Finally, Redburn Partners started coverage on Abbott Laboratories in a research note on Thursday, October 14th. They set a “neutral” rating and a $132.28 price objective for the company. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $137.23.

About Abbott Laboratories

Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following segments: Established Pharmaceutical Products, Nutritional Products, Diagnostic Products, and Medical Devices. The Established Pharmaceutical Products segment refers to the international sales of a line of branded generic pharmaceutical products.

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

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