Wilson & Boucher Capital Management LLC Trims Stake in Abbott Laboratories (NYSE:ABT)

Wilson & Boucher Capital Management LLC trimmed its stake in Abbott Laboratories (NYSE:ABTGet Rating) by 5.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 13,373 shares of the healthcare product maker’s stock after selling 750 shares during the period. Abbott Laboratories makes up 1.6% of Wilson & Boucher Capital Management LLC’s portfolio, making the stock its 17th largest holding. Wilson & Boucher Capital Management LLC’s holdings in Abbott Laboratories were worth $1,453,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of ABT. Rowland & Co. Investment Counsel ADV increased its stake in 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 buying an additional 85 shares in the last quarter. HBK Investments L P purchased a new position in shares of Abbott Laboratories during the fourth quarter valued at about $1,280,000. Nuveen Asset Management LLC grew its position in shares of Abbott Laboratories by 16.3% during the fourth quarter. Nuveen Asset Management LLC now owns 11,469,313 shares of the healthcare product maker’s stock valued at $1,614,192,000 after purchasing an additional 1,609,489 shares in the last quarter. Gordian Capital Singapore Pte Ltd purchased a new position in shares of Abbott Laboratories during the fourth quarter valued at about $155,000. Finally, Unigestion Holding SA purchased a new position in shares of Abbott Laboratories during the fourth quarter valued at about $1,688,000. Hedge funds and other institutional investors own 73.03% of the company’s stock.

Wall Street Analysts Forecast Growth

ABT has been the subject of a number of analyst reports. Cowen lowered their price target on shares of Abbott Laboratories from $150.00 to $130.00 in a report on Wednesday, July 13th. Cowen lowered their price target on shares of Abbott Laboratories from $150.00 to $130.00 in a report on Wednesday, July 13th. UBS Group decreased their price objective on shares of Abbott Laboratories from $142.00 to $128.00 and set a “buy” rating for the company in a research note on Wednesday, July 27th. Evercore ISI decreased their price objective on shares of Abbott Laboratories to $112.00 in a research note on Friday, July 22nd. Finally, Morgan Stanley reduced their target price on shares of Abbott Laboratories from $134.00 to $132.00 and set an “overweight” rating on the stock in a research report on Thursday, July 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $132.46.

Abbott Laboratories Price Performance

NYSE ABT opened at $100.24 on Friday. Abbott Laboratories has a 12-month low of $99.85 and a 12-month high of $142.60. The firm’s fifty day simple moving average is $107.10 and its two-hundred day simple moving average is $111.67. The company has a current ratio of 2.01, a quick ratio of 1.54 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $175.54 billion, a P/E ratio of 21.10, a P/E/G ratio of 3.73 and a beta of 0.72.

Abbott Laboratories (NYSE:ABTGet Rating) last posted its quarterly earnings data on Wednesday, July 20th. The healthcare product maker reported $1.43 EPS for the quarter, topping the consensus estimate of $1.09 by $0.34. Abbott Laboratories had a net margin of 18.78% and a return on equity of 29.38%. The business had revenue of $11.26 billion during the quarter, compared to the consensus estimate of $10.37 billion. During the same period in the previous year, the firm posted $1.17 earnings per share. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. Analysts forecast that Abbott Laboratories will post 4.99 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Friday, October 14th will be given a dividend of $0.47 per share. The ex-dividend date is Thursday, October 13th. This represents a $1.88 dividend on an annualized basis and a yield of 1.88%. Abbott Laboratories’s dividend payout ratio is presently 39.25%.

Insider Activity at Abbott Laboratories

In related news, Director Daniel J. Starks sold 50,000 shares of the business’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $109.14, for a total transaction of $5,457,000.00. Following the completion of the transaction, the director now directly owns 6,923,500 shares in the company, valued at $755,630,790. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Joseph J. Manning sold 23,008 shares of the business’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $107.00, for a total transaction of $2,461,856.00. Following the completion of the sale, the executive vice president now owns 53,245 shares of the company’s stock, valued at $5,697,215. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel J. Starks sold 50,000 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 6,923,500 shares of the company’s stock, valued at approximately $755,630,790. The disclosure for this sale can be found here. Insiders sold 204,788 shares of company stock worth $21,776,756 over the last three months. Company insiders own 0.52% of the company’s stock.

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.

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

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