World Asset Management Inc Reduces Position in Abbott Laboratories (ABT)

World Asset Management Inc lessened its holdings in Abbott Laboratories (NYSE:ABT) by 8.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 147,457 shares of the healthcare product maker’s stock after selling 14,318 shares during the period. World Asset Management Inc’s holdings in Abbott Laboratories were worth $8,415,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ABT. Cobblestone Capital Advisors LLC NY raised its holdings in Abbott Laboratories by 0.3% during the 2nd quarter. Cobblestone Capital Advisors LLC NY now owns 16,511 shares of the healthcare product maker’s stock worth $803,000 after purchasing an additional 56 shares during the last quarter. National Planning Corp raised its holdings in Abbott Laboratories by 0.3% during the 2nd quarter. National Planning Corp now owns 26,732 shares of the healthcare product maker’s stock worth $1,302,000 after purchasing an additional 83 shares during the last quarter. Farmers National Bank raised its holdings in Abbott Laboratories by 2.4% during the 2nd quarter. Farmers National Bank now owns 3,653 shares of the healthcare product maker’s stock worth $178,000 after purchasing an additional 85 shares during the last quarter. Flagship Harbor Advisors LLC raised its holdings in Abbott Laboratories by 0.7% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 12,341 shares of the healthcare product maker’s stock worth $600,000 after purchasing an additional 87 shares during the last quarter. Finally, Hedeker Wealth LLC raised its holdings in Abbott Laboratories by 0.5% during the 2nd quarter. Hedeker Wealth LLC now owns 24,678 shares of the healthcare product maker’s stock worth $1,199,000 after purchasing an additional 116 shares during the last quarter. Institutional investors and hedge funds own 70.61% of the company’s stock.

In related news, insider Alejandro D. Wellisch sold 2,153 shares of Abbott Laboratories stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $55.86, for a total value of $120,266.58. Following the completion of the sale, the insider now owns 10,256 shares of the company’s stock, valued at approximately $572,900.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Stephen R. Fussell sold 13,313 shares of Abbott Laboratories stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $62.84, for a total transaction of $836,588.92. Following the completion of the sale, the executive vice president now directly owns 152,343 shares of the company’s stock, valued at approximately $9,573,234.12. The disclosure for this sale can be found here. In the last three months, insiders sold 350,592 shares of company stock valued at $19,426,949. 0.76% of the stock is currently owned by insiders.

Shares of Abbott Laboratories (NYSE ABT) opened at $60.17 on Friday. The company has a market cap of $104,730.00, a P/E ratio of 57.86, a PEG ratio of 1.81 and a beta of 1.55. Abbott Laboratories has a 52-week low of $42.31 and a 52-week high of $64.60. The company has a current ratio of 2.69, a quick ratio of 2.26 and a debt-to-equity ratio of 0.72.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.01. Abbott Laboratories had a net margin of 1.74% and a return on equity of 13.80%. The business had revenue of $7.59 billion during the quarter, compared to the consensus estimate of $7.38 billion. During the same quarter last year, the firm posted $0.65 EPS. Abbott Laboratories’s revenue was up 42.3% compared to the same quarter last year. research analysts expect that Abbott Laboratories will post 2.86 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Friday, April 13th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.86%. Abbott Laboratories’s payout ratio is currently 107.69%.

Several research firms have issued reports on ABT. Wells Fargo & Co raised their price target on shares of Abbott Laboratories from $66.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Zacks Investment Research lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. William Blair upgraded shares of Abbott Laboratories from a “market perform” rating to an “outperform” rating in a report on Thursday, January 25th. Morgan Stanley upgraded shares of Abbott Laboratories from an “equal weight” rating to an “overweight” rating and set a $67.00 price target for the company in a report on Tuesday, January 2nd. Finally, Barclays raised their price target on shares of Abbott Laboratories from $66.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, January 25th. Eight investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $65.47.

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About Abbott Laboratories

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.

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

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