Northwestern Mutual Wealth Management Co. Sells 1,146 Shares of Abbott Laboratories (ABT)

Northwestern Mutual Wealth Management Co. lessened its holdings in Abbott Laboratories (NYSE:ABT) by 0.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 131,446 shares of the healthcare product maker’s stock after selling 1,146 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Abbott Laboratories were worth $9,643,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of ABT. Grassi Investment Management raised its position in shares of Abbott Laboratories by 0.6% in the 3rd quarter. Grassi Investment Management now owns 123,859 shares of the healthcare product maker’s stock valued at $9,086,000 after acquiring an additional 776 shares during the period. City Holding Co. raised its holdings in Abbott Laboratories by 1.6% during the 2nd quarter. City Holding Co. now owns 50,654 shares of the healthcare product maker’s stock worth $3,089,000 after buying an additional 782 shares during the period. Burns J W & Co. Inc. NY raised its holdings in Abbott Laboratories by 3.2% during the 3rd quarter. Burns J W & Co. Inc. NY now owns 25,006 shares of the healthcare product maker’s stock worth $1,834,000 after buying an additional 785 shares during the period. Fulton Bank N.A. raised its holdings in Abbott Laboratories by 4.3% during the 3rd quarter. Fulton Bank N.A. now owns 19,375 shares of the healthcare product maker’s stock worth $1,421,000 after buying an additional 791 shares during the period. Finally, Moody National Bank Trust Division raised its holdings in Abbott Laboratories by 7.3% during the 2nd quarter. Moody National Bank Trust Division now owns 11,757 shares of the healthcare product maker’s stock worth $717,000 after buying an additional 795 shares during the period. 72.30% of the stock is currently owned by institutional investors.

In related news, SVP Sharon J. Bracken sold 1,732 shares of the firm’s stock in a transaction on Friday, September 28th. The shares were sold at an average price of $73.35, for a total value of $127,042.20. Following the completion of the transaction, the senior vice president now directly owns 39,229 shares of the company’s stock, valued at $2,877,447.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Daniel Gesua Sive Salvadori sold 5,000 shares of the firm’s stock in a transaction on Friday, September 28th. The shares were sold at an average price of $73.39, for a total transaction of $366,950.00. Following the completion of the transaction, the insider now directly owns 93,321 shares of the company’s stock, valued at $6,848,828.19. The disclosure for this sale can be found here. Insiders sold 203,297 shares of company stock valued at $14,018,743 over the last three months. 0.74% of the stock is owned by company insiders.

NYSE ABT opened at $72.96 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.42. Abbott Laboratories has a 12-month low of $54.32 and a 12-month high of $74.15. The company has a market capitalization of $124.63 billion, a PE ratio of 29.18, a price-to-earnings-growth ratio of 2.11 and a beta of 1.39.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 17th. The healthcare product maker reported $0.75 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.75. Abbott Laboratories had a net margin of 2.91% and a return on equity of 16.05%. The company had revenue of $7.66 billion for the quarter, compared to the consensus estimate of $7.65 billion. During the same period last year, the company earned $0.66 earnings per share. The firm’s revenue was up 12.1% compared to the same quarter last year. On average, analysts predict that Abbott Laboratories will post 2.89 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Monday, October 15th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, October 12th. This represents a $1.12 annualized dividend and a dividend yield of 1.54%. Abbott Laboratories’s dividend payout ratio is presently 44.80%.

Several analysts have commented on the stock. Raymond James raised their target price on shares of Abbott Laboratories from $77.00 to $79.00 and gave the stock an “outperform” rating in a report on Thursday, October 18th. Royal Bank of Canada raised their target price on shares of Abbott Laboratories to $77.00 and gave the stock an “outperform” rating in a report on Thursday, October 11th. Zacks Investment Research downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 31st. Wells Fargo & Co raised their target price on shares of Abbott Laboratories from $77.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, September 24th. Finally, BTIG Research restated a “hold” rating on shares of Abbott Laboratories in a report on Thursday, October 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $75.22.

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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 symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine 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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