LaSalle Street Capital Management LLC Sells 5,139 Shares of Abbott Laboratories (ABT)

LaSalle Street Capital Management LLC cut its stake in shares of Abbott Laboratories (NYSE:ABT) by 58.8% during the third quarter, HoldingsChannel.com reports. The firm owned 3,600 shares of the healthcare product maker’s stock after selling 5,139 shares during the quarter. LaSalle Street Capital Management LLC’s holdings in Abbott Laboratories were worth $264,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of ABT. Norinchukin Bank The grew its stake in shares of Abbott Laboratories by 9.3% during the third quarter. Norinchukin Bank The now owns 315,617 shares of the healthcare product maker’s stock valued at $23,154,000 after buying an additional 26,729 shares during the last quarter. Mckinley Capital Management LLC Delaware grew its stake in shares of Abbott Laboratories by 26.9% during the third quarter. Mckinley Capital Management LLC Delaware now owns 425,099 shares of the healthcare product maker’s stock valued at $31,185,000 after buying an additional 90,024 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Abbott Laboratories by 59.6% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 18,447 shares of the healthcare product maker’s stock valued at $1,353,000 after buying an additional 6,889 shares during the last quarter. Bollard Group LLC grew its stake in shares of Abbott Laboratories by 4.2% during the third quarter. Bollard Group LLC now owns 138,122 shares of the healthcare product maker’s stock valued at $10,133,000 after buying an additional 5,504 shares during the last quarter. Finally, Linscomb & Williams Inc. grew its stake in shares of Abbott Laboratories by 1.3% during the third quarter. Linscomb & Williams Inc. now owns 91,463 shares of the healthcare product maker’s stock valued at $6,710,000 after buying an additional 1,214 shares during the last quarter. Institutional investors and hedge funds own 72.39% of the company’s stock.

In related news, insider Andrew H. Lane sold 9,097 shares of the stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $67.11, for a total value of $610,499.67. Following the transaction, the insider now owns 35,576 shares of the company’s stock, valued at $2,387,505.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Jaime Contreras sold 64,268 shares of the stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $66.84, for a total value of $4,295,673.12. Following the completion of the transaction, the senior vice president now directly owns 125,471 shares in the company, valued at approximately $8,386,481.64. The disclosure for this sale can be found here. In the last three months, insiders sold 203,297 shares of company stock worth $14,018,743. 0.74% of the stock is owned by insiders.

A number of research analysts have recently commented on the company. BTIG Research reaffirmed a “hold” rating on shares of Abbott Laboratories in a research note on Thursday, October 18th. Raymond James upped their target price on Abbott Laboratories from $72.00 to $77.00 and gave the company an “outperform” rating in a research note on Monday, September 24th. Morgan Stanley upped their target price on Abbott Laboratories from $70.00 to $80.00 and gave the company an “overweight” rating in a research note on Thursday, October 11th. Jefferies Financial Group reaffirmed a “buy” rating and set a $80.00 target price on shares of Abbott Laboratories in a research note on Thursday, October 18th. Finally, Wells Fargo & Co upped their target price on Abbott Laboratories from $77.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday, September 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Abbott Laboratories currently has an average rating of “Buy” and a consensus price target of $75.22.

Shares of NYSE:ABT opened at $68.11 on Friday. Abbott Laboratories has a 52-week low of $54.32 and a 52-week high of $74.15. The company has a market capitalization of $119.62 billion, a P/E ratio of 27.24, a PEG ratio of 2.02 and a beta of 1.39. The company has a current ratio of 1.42, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62.

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

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Monday, October 15th were paid a $0.28 dividend. The ex-dividend date was Friday, October 12th. This represents a $1.12 annualized dividend and a yield of 1.64%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 44.80%.

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Abbott Laboratories Company 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 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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