Rosenbaum Jay D. Reduces Stake in Abbott Laboratories (NYSE:ABT)

Rosenbaum Jay D. decreased its stake in shares of Abbott Laboratories (NYSE:ABT) by 2.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 7,530 shares of the healthcare product maker’s stock after selling 200 shares during the period. Rosenbaum Jay D.’s holdings in Abbott Laboratories were worth $633,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. DekaBank Deutsche Girozentrale raised its holdings in shares of Abbott Laboratories by 91.4% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,454,239 shares of the healthcare product maker’s stock valued at $122,138,000 after acquiring an additional 694,262 shares in the last quarter. Krueger & Catalano Capital Partners LLC bought a new position in shares of Abbott Laboratories during the 1st quarter valued at about $244,000. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its position in shares of Abbott Laboratories by 3.8% during the 2nd quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 3,176 shares of the healthcare product maker’s stock valued at $267,000 after purchasing an additional 116 shares during the last quarter. FMR LLC increased its position in shares of Abbott Laboratories by 0.3% during the 1st quarter. FMR LLC now owns 23,827,545 shares of the healthcare product maker’s stock valued at $1,904,774,000 after purchasing an additional 65,260 shares during the last quarter. Finally, Lowe Brockenbrough & Co. Inc. increased its position in shares of Abbott Laboratories by 2.5% during the 1st quarter. Lowe Brockenbrough & Co. Inc. now owns 62,003 shares of the healthcare product maker’s stock valued at $4,956,000 after purchasing an additional 1,514 shares during the last quarter. 73.42% of the stock is currently owned by institutional investors and hedge funds.

In other Abbott Laboratories news, insider Brian J. Blaser sold 450,062 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $75.52, for a total value of $33,988,682.24. Following the completion of the sale, the insider now owns 295,745 shares in the company, valued at approximately $22,334,662.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Michael J. Pederson sold 23,008 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $86.39, for a total value of $1,987,661.12. Following the completion of the sale, the senior vice president now owns 104,228 shares of the company’s stock, valued at approximately $9,004,256.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 885,102 shares of company stock worth $71,110,429. 0.70% of the stock is owned by corporate insiders.



ABT traded up $0.49 on Thursday, hitting $84.43. 128,751 shares of the company were exchanged, compared to its average volume of 5,327,106. The stock’s fifty day moving average price is $85.77. The company has a quick ratio of 1.20, a current ratio of 1.68 and a debt-to-equity ratio of 0.60. Abbott Laboratories has a 12 month low of $63.07 and a 12 month high of $88.76. The company has a market capitalization of $149.58 billion, a PE ratio of 29.29, a PEG ratio of 2.38 and a beta of 1.12.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, July 17th. The healthcare product maker reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.02. Abbott Laboratories had a return on equity of 17.26% and a net margin of 9.36%. The business had revenue of $7.98 billion for the quarter, compared to analyst estimates of $8 billion. During the same period last year, the company earned $0.73 EPS. Abbott Laboratories’s revenue for the quarter was up 2.7% compared to the same quarter last year. Sell-side analysts forecast that Abbott Laboratories will post 3.24 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, July 12th. This represents a $1.28 annualized dividend and a yield of 1.52%. Abbott Laboratories’s payout ratio is 44.44%.

Several equities analysts have recently commented on the company. Zacks Investment Research lowered Abbott Laboratories from a “buy” rating to a “hold” rating and set a $84.00 price objective on the stock. in a research report on Friday, June 7th. William Blair reiterated an “outperform” rating on shares of Abbott Laboratories in a research report on Thursday, April 18th. Wells Fargo & Co increased their price objective on Abbott Laboratories from $89.00 to $91.00 and gave the company an “outperform” rating in a research report on Thursday, June 13th. BMO Capital Markets increased their price objective on Abbott Laboratories from $87.00 to $94.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Finally, Jefferies Financial Group increased their price objective on Abbott Laboratories from $80.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $85.82.

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.

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

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