Prudent Man Advisors LLC Trims Holdings in Abbott Laboratories (NYSE:ABT)

Prudent Man Advisors LLC cut its stake in Abbott Laboratories (NYSE:ABTGet Rating) by 1.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 13,207 shares of the healthcare product maker’s stock after selling 245 shares during the quarter. Abbott Laboratories makes up about 0.6% of Prudent Man Advisors LLC’s portfolio, making the stock its 27th largest position. Prudent Man Advisors LLC’s holdings in Abbott Laboratories were worth $1,563,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ABT. Innovative Portfolios raised its position in Abbott Laboratories by 3.2% during the 4th quarter. Innovative Portfolios now owns 2,608 shares of the healthcare product maker’s stock valued at $367,000 after purchasing an additional 81 shares during the last quarter. Tennessee Valley Asset Management Partners raised its position in Abbott Laboratories by 0.4% during the 4th quarter. Tennessee Valley Asset Management Partners now owns 20,487 shares of the healthcare product maker’s stock valued at $2,883,000 after purchasing an additional 83 shares during the last quarter. Greytown Advisors Inc. raised its position in Abbott Laboratories by 1.6% during the 4th quarter. Greytown Advisors Inc. now owns 5,393 shares of the healthcare product maker’s stock valued at $759,000 after purchasing an additional 84 shares during the last quarter. Rowland & Co. Investment Counsel ADV raised its position in shares of Abbott Laboratories by 3.3% in the 4th quarter. Rowland & Co. Investment Counsel ADV now owns 2,625 shares of the healthcare product maker’s stock worth $369,000 after acquiring an additional 85 shares in the last quarter. Finally, Oldfather Financial Services LLC raised its position in shares of Abbott Laboratories by 3.6% in the 4th quarter. Oldfather Financial Services LLC now owns 2,479 shares of the healthcare product maker’s stock worth $307,000 after acquiring an additional 85 shares in the last quarter. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Daniel J. Starks sold 50,000 shares of the stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $109.14, for a total transaction of $5,457,000.00. Following the transaction, the director now directly owns 6,923,500 shares of the company’s stock, valued at approximately $755,630,790. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Daniel J. Starks sold 50,000 shares of the firm’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $109.14, for a total value of $5,457,000.00. Following the transaction, the director now directly owns 6,923,500 shares of the company’s stock, valued at approximately $755,630,790. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Fernando Mateus sold 2,457 shares of the firm’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $109.05, for a total value of $267,935.85. Following the completion of the transaction, the senior vice president now directly owns 14,503 shares in the company, valued at $1,581,552.15. The disclosure for this sale can be found here. Insiders own 0.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Raymond James decreased their target price on Abbott Laboratories from $143.00 to $135.00 and set an “outperform” rating for the company in a research report on Thursday, April 21st. Cowen decreased their target price on Abbott Laboratories from $150.00 to $130.00 in a research report on Wednesday, July 13th. Cowen decreased their target price on Abbott Laboratories from $150.00 to $130.00 in a research report on Wednesday, July 13th. Morgan Stanley decreased their target price on Abbott Laboratories from $134.00 to $132.00 and set an “overweight” rating for the company in a research report on Thursday, July 21st. Finally, UBS Group decreased their target price on Abbott Laboratories from $142.00 to $128.00 and set a “buy” rating for the company in a research report on Wednesday, July 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $132.46.

Abbott Laboratories Stock Performance

Shares of ABT opened at $109.25 on Friday. The business’s fifty day simple moving average is $109.35 and its two-hundred day simple moving average is $115.75. The company has a current ratio of 2.01, a quick ratio of 1.40 and a debt-to-equity ratio of 0.46. Abbott Laboratories has a 12 month low of $101.24 and a 12 month high of $142.60. The company has a market cap of $191.32 billion, a price-to-earnings ratio of 22.81, a P/E/G ratio of 4.06 and a beta of 0.71.

Abbott Laboratories (NYSE:ABTGet Rating) last issued its earnings results on Wednesday, July 20th. The healthcare product maker reported $1.43 EPS for the quarter, beating the consensus estimate of $1.09 by $0.34. The business had revenue of $11.26 billion for the quarter, compared to the consensus estimate of $10.37 billion. Abbott Laboratories had a return on equity of 29.38% and a net margin of 18.78%. The company’s revenue was up 10.1% compared to the same quarter last year. During the same period last year, the business posted $1.17 EPS. Research analysts anticipate that Abbott Laboratories will post 5 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Friday, July 15th will be issued a dividend of $0.47 per share. The ex-dividend date is Thursday, July 14th. This represents a $1.88 annualized dividend and a dividend yield of 1.72%. Abbott Laboratories’s payout ratio is 39.25%.

Abbott Laboratories Profile

(Get Rating)

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The Established Pharmaceutical Products segment provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.

Read More

Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abbott Laboratories (NYSE:ABTGet Rating).

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

Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.