Covington Capital Management Has $10.63 Million Position in Abbott Laboratories (ABT)

Covington Capital Management reduced its holdings in Abbott Laboratories (NYSE:ABT) by 2.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 186,208 shares of the healthcare product maker’s stock after selling 3,725 shares during the quarter. Covington Capital Management’s holdings in Abbott Laboratories were worth $10,627,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in ABT. Capital Research Global Investors increased its stake in Abbott Laboratories by 45.7% in the second quarter. Capital Research Global Investors now owns 47,589,663 shares of the healthcare product maker’s stock valued at $2,313,334,000 after purchasing an additional 14,918,038 shares during the last quarter. Janus Henderson Group PLC increased its stake in Abbott Laboratories by 3,373.9% in the second quarter. Janus Henderson Group PLC now owns 7,874,473 shares of the healthcare product maker’s stock valued at $382,779,000 after purchasing an additional 7,647,798 shares during the last quarter. BlackRock Inc. increased its stake in Abbott Laboratories by 3.3% in the fourth quarter. BlackRock Inc. now owns 110,201,384 shares of the healthcare product maker’s stock valued at $6,289,191,000 after purchasing an additional 3,566,731 shares during the last quarter. Vanguard Group Inc. increased its stake in Abbott Laboratories by 2.6% in the second quarter. Vanguard Group Inc. now owns 129,786,955 shares of the healthcare product maker’s stock valued at $6,308,944,000 after purchasing an additional 3,241,063 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Abbott Laboratories by 28.6% in the second quarter. Dimensional Fund Advisors LP now owns 11,722,088 shares of the healthcare product maker’s stock valued at $569,830,000 after purchasing an additional 2,606,404 shares during the last quarter. Hedge funds and other institutional investors own 72.37% of the company’s stock.

In other news, insider Brian J. Blaser sold 27,733 shares of the company’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $62.26, for a total value of $1,726,656.58. Following the completion of the sale, the insider now owns 156,587 shares of the company’s stock, valued at $9,749,106.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Jared Watkin sold 996 shares of the company’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $58.87, for a total value of $58,634.52. Following the completion of the sale, the senior vice president now directly owns 69,511 shares of the company’s stock, valued at approximately $4,092,112.57. The disclosure for this sale can be found here. Insiders sold 124,261 shares of company stock valued at $7,559,987 in the last ninety days. Company insiders own 0.74% of the company’s stock.



Shares of NYSE ABT opened at $58.83 on Friday. Abbott Laboratories has a 1-year low of $42.31 and a 1-year high of $64.60. The company has a quick ratio of 1.86, a current ratio of 2.26 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $103,278.19, a PE ratio of 23.53, a P/E/G ratio of 1.75 and a beta of 1.50.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share for the quarter, topping the Thomson Reuters’ 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 company had revenue of $7.59 billion during the quarter, compared to the consensus estimate of $7.38 billion. During the same quarter in the prior year, the business earned $0.65 earnings per share. The company’s revenue was up 42.3% compared to the same quarter last year. research analysts anticipate that Abbott Laboratories will post 2.86 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Thursday, April 12th. Abbott Laboratories’s payout ratio is 44.80%.

ABT has been the subject of several analyst reports. Zacks Investment Research lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Royal Bank of Canada reiterated a “buy” rating and issued a $65.00 target price on shares of Abbott Laboratories in a research note on Tuesday, January 9th. ValuEngine raised Abbott Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Evercore ISI started coverage on Abbott Laboratories in a research report on Wednesday, January 3rd. They set an “outperform” rating and a $64.00 price target for the company. Finally, BTIG Research downgraded Abbott Laboratories from a “buy” rating to a “neutral” rating in a research report on Monday, January 22nd. They noted that the move was a valuation call. Seven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $65.47.

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Abbott Laboratories Company 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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