Abbott Laboratories (NYSE:ABT) Stake Lessened by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. cut its stake in Abbott Laboratories (NYSE:ABT) by 7.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 45,337 shares of the healthcare product maker’s stock after selling 3,644 shares during the period. First Citizens Bank & Trust Co.’s holdings in Abbott Laboratories were worth $4,934,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. JustInvest LLC lifted its stake in Abbott Laboratories by 44.0% during the second quarter. JustInvest LLC now owns 12,672 shares of the healthcare product maker’s stock valued at $1,159,000 after purchasing an additional 3,873 shares during the last quarter. Rhenman & Partners Asset Management AB lifted its stake in Abbott Laboratories by 10.8% during the third quarter. Rhenman & Partners Asset Management AB now owns 205,000 shares of the healthcare product maker’s stock valued at $22,310,000 after purchasing an additional 20,000 shares during the last quarter. Callahan Advisors LLC lifted its stake in Abbott Laboratories by 0.7% during the second quarter. Callahan Advisors LLC now owns 106,753 shares of the healthcare product maker’s stock valued at $9,760,000 after purchasing an additional 724 shares during the last quarter. Virtu Financial LLC acquired a new stake in Abbott Laboratories during the second quarter valued at approximately $203,000. Finally, Advisor Group Holdings Inc. acquired a new stake in Abbott Laboratories during the first quarter valued at approximately $38,642,000. Institutional investors and hedge funds own 73.09% of the company’s stock.

In other news, EVP Andrea F. Wainer sold 3,650 shares of the stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $102.47, for a total transaction of $374,015.50. Following the transaction, the executive vice president now owns 44,080 shares in the company, valued at approximately $4,516,877.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Andrea F. Wainer sold 30,000 shares of the stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $107.01, for a total transaction of $3,210,300.00. Following the transaction, the executive vice president now owns 74,080 shares in the company, valued at approximately $7,927,300.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 114,771 shares of company stock valued at $12,220,943. Insiders own 1.70% of the company’s stock.

Several research firms recently commented on ABT. Goldman Sachs Group set a $94.00 target price on shares of Abbott Laboratories and gave the company a “sell” rating in a research note on Wednesday, September 2nd. Stifel Nicolaus increased their target price on shares of Abbott Laboratories from $108.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, August 27th. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $116.00 price target for the company in a research report on Monday, October 12th. Citigroup upped their price target on shares of Abbott Laboratories from $110.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, August 28th. Finally, Argus upped their price target on shares of Abbott Laboratories from $110.00 to $125.00 in a research report on Thursday, July 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $114.44.

ABT stock opened at $109.67 on Friday. Abbott Laboratories has a 12-month low of $61.61 and a 12-month high of $114.19. The company has a quick ratio of 1.10, a current ratio of 1.57 and a debt-to-equity ratio of 0.59. The company has a market cap of $194.17 billion, a price-to-earnings ratio of 63.39, a PEG ratio of 3.06 and a beta of 0.92. The company has a 50 day moving average of $106.58 and a two-hundred day moving average of $96.39.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Thursday, July 16th. The healthcare product maker reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.15. Abbott Laboratories had a net margin of 9.89% and a return on equity of 17.34%. The company had revenue of $7.33 billion during the quarter, compared to the consensus estimate of $6.85 billion. During the same quarter in the prior year, the firm earned $0.82 EPS. The company’s revenue was down 8.2% compared to the same quarter last year. On average, research analysts anticipate that Abbott Laboratories will post 3.3 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, October 15th will be given a $0.36 dividend. The ex-dividend date of this dividend is Wednesday, October 14th. This represents a $1.44 dividend on an annualized basis and a yield of 1.31%. 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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