Pflug Koory LLC Lowers Stake in Abbott Laboratories (NYSE:ABT)

Pflug Koory LLC reduced its holdings in shares of Abbott Laboratories (NYSE:ABT) by 2.8% in the fourth quarter, HoldingsChannel reports. The fund owned 13,674 shares of the healthcare product maker’s stock after selling 400 shares during the period. Pflug Koory LLC’s holdings in Abbott Laboratories were worth $1,188,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Appleton Partners Inc. MA raised its holdings in Abbott Laboratories by 0.5% in the third quarter. Appleton Partners Inc. MA now owns 24,589 shares of the healthcare product maker’s stock worth $2,057,000 after buying an additional 123 shares during the last quarter. Circle Wealth Management LLC raised its holdings in Abbott Laboratories by 3.8% in the third quarter. Circle Wealth Management LLC now owns 3,468 shares of the healthcare product maker’s stock worth $290,000 after buying an additional 126 shares during the last quarter. Simon Quick Advisors LLC raised its holdings in Abbott Laboratories by 4.0% in the fourth quarter. Simon Quick Advisors LLC now owns 3,302 shares of the healthcare product maker’s stock worth $287,000 after buying an additional 127 shares during the last quarter. RKL Wealth Management LLC raised its holdings in Abbott Laboratories by 3.5% in the third quarter. RKL Wealth Management LLC now owns 3,757 shares of the healthcare product maker’s stock worth $316,000 after buying an additional 128 shares during the last quarter. Finally, Boltwood Capital Management raised its holdings in Abbott Laboratories by 0.5% in the third quarter. Boltwood Capital Management now owns 27,789 shares of the healthcare product maker’s stock worth $2,325,000 after buying an additional 130 shares during the last quarter. 73.59% of the stock is owned by institutional investors.

Several brokerages have issued reports on ABT. ValuEngine cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Guggenheim cut shares of Abbott Laboratories from a “buy” rating to a “neutral” rating in a report on Thursday, January 2nd. Raymond James decreased their target price on shares of Abbott Laboratories from $93.00 to $90.00 and set an “outperform” rating for the company in a report on Monday, October 14th. Citigroup cut shares of Abbott Laboratories from a “neutral” rating to a “sell” rating in a report on Thursday, January 2nd. Finally, William Blair reiterated an “underperform” rating on shares of Abbott Laboratories in a research note on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $91.42.

In other news, SVP Randel William Woodgrift sold 21,000 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $80.54, for a total value of $1,691,340.00. Following the transaction, the senior vice president now owns 68,562 shares of the company’s stock, valued at $5,521,983.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.70% of the company’s stock.

Shares of ABT stock opened at $85.74 on Wednesday. The company has a 50 day moving average price of $86.06 and a 200-day moving average price of $84.55. Abbott Laboratories has a 52 week low of $68.36 and a 52 week high of $89.24. The firm has a market capitalization of $150.96 billion, a PE ratio of 29.77, a P/E/G ratio of 2.16 and a beta of 1.12. The company has a quick ratio of 1.12, a current ratio of 1.54 and a debt-to-equity ratio of 0.55.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $0.84 EPS for the quarter, hitting analysts’ consensus estimates of $0.84. Abbott Laboratories had a net margin of 10.50% and a return on equity of 17.65%. The firm had revenue of $8.08 billion during the quarter, compared to analyst estimates of $8.10 billion. During the same period in the previous year, the business posted $0.75 earnings per share. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. Analysts anticipate that Abbott Laboratories will post 3.24 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.68%. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.32. The ex-dividend date is Tuesday, January 14th. Abbott Laboratories’s payout ratio is 44.44%.

Abbott Laboratories 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 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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