Kovitz Investment Group Partners LLC Sells 1,365 Shares of Abbott Laboratories (ABT)

Kovitz Investment Group Partners LLC lessened its holdings in Abbott Laboratories (NYSE:ABT) by 3.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,920 shares of the healthcare product maker’s stock after selling 1,365 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Abbott Laboratories were worth $2,335,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Farmers National Bank increased its holdings in shares of Abbott Laboratories by 2.4% during the second quarter. Farmers National Bank now owns 3,653 shares of the healthcare product maker’s stock worth $178,000 after buying an additional 85 shares in the last quarter. Keel Point LLC increased its holdings in shares of Abbott Laboratories by 2.2% during the second quarter. Keel Point LLC now owns 13,580 shares of the healthcare product maker’s stock worth $660,000 after buying an additional 294 shares in the last quarter. Simmons Bank increased its holdings in shares of Abbott Laboratories by 1.5% during the second quarter. Simmons Bank now owns 23,978 shares of the healthcare product maker’s stock worth $1,166,000 after buying an additional 343 shares in the last quarter. Hutner Capital Management Inc. increased its holdings in shares of Abbott Laboratories by 1.0% during the second quarter. Hutner Capital Management Inc. now owns 42,298 shares of the healthcare product maker’s stock worth $2,056,000 after buying an additional 411 shares in the last quarter. Finally, South Texas Money Management Ltd. increased its holdings in shares of Abbott Laboratories by 5.7% during the second quarter. South Texas Money Management Ltd. now owns 8,195 shares of the healthcare product maker’s stock worth $398,000 after buying an additional 444 shares in the last quarter. 72.37% of the stock is owned by hedge funds and other institutional investors.

In other Abbott Laboratories news, Director Daniel J. Starks acquired 40,037 shares of Abbott Laboratories stock in a transaction on Tuesday, February 27th. The shares were purchased at an average cost of $60.67 per share, with a total value of $2,429,044.79. Following the completion of the purchase, the director now owns 6,943,348 shares in the company, valued at $421,252,923.16. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Roger Bird sold 8,262 shares of the firm’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $62.75, for a total transaction of $518,440.50. Following the completion of the transaction, the insider now directly owns 58,574 shares in the company, valued at $3,675,518.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 124,261 shares of company stock worth $7,559,987. Insiders own 0.74% of the company’s stock.



Several analysts have recently weighed in on ABT shares. Barclays reaffirmed a “buy” rating and set a $66.00 price objective on shares of Abbott Laboratories in a report on Monday, January 8th. BTIG Research lowered shares of Abbott Laboratories from a “buy” rating to a “neutral” rating in a report on Monday, January 22nd. They noted that the move was a valuation call. Leerink Swann reaffirmed a “market perform” rating and set a $68.00 price objective (up previously from $60.00) on shares of Abbott Laboratories in a report on Thursday, January 25th. Morgan Stanley raised their price objective on shares of Abbott Laboratories from $67.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, January 25th. Finally, JPMorgan Chase raised shares of Abbott Laboratories from a “neutral” rating to an “overweight” rating and set a $60.00 price objective for the company in a report on Tuesday, January 2nd. Seven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $65.47.

Shares of ABT stock opened at $58.49 on Friday. Abbott Laboratories has a 52-week low of $42.31 and a 52-week high of $64.60. The company has a market capitalization of $102,073.23, a price-to-earnings ratio of 23.40, a price-to-earnings-growth ratio of 1.73 and a beta of 1.50. The company has a current ratio of 2.26, a quick ratio of 1.86 and a debt-to-equity ratio of 0.87.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. Abbott Laboratories had a net margin of 1.74% and a return on equity of 13.88%. The firm had revenue of $7.59 billion for the quarter, compared to analysts’ expectations of $7.38 billion. During the same period last year, the firm earned $0.65 earnings per share. The business’s revenue for the quarter was up 42.3% on a year-over-year basis. equities analysts anticipate that Abbott Laboratories will post 2.86 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 13th will be paid a $0.28 dividend. The ex-dividend date is Thursday, April 12th. This represents a $1.12 dividend on an annualized basis and a yield of 1.91%. Abbott Laboratories’s payout ratio is presently 44.80%.

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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 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.

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

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