Abbott Laboratories (ABT) Holdings Boosted by Retirement Systems of Alabama

Retirement Systems of Alabama raised its holdings in Abbott Laboratories (NYSE:ABT) by 1.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 817,824 shares of the healthcare product maker’s stock after buying an additional 8,803 shares during the quarter. Retirement Systems of Alabama’s holdings in Abbott Laboratories were worth $65,377,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Pinkerton Retirement Specialists LLC raised its position in shares of Abbott Laboratories by 0.3% during the fourth quarter. Pinkerton Retirement Specialists LLC now owns 49,500 shares of the healthcare product maker’s stock worth $3,580,000 after purchasing an additional 147 shares during the period. Delta Asset Management LLC TN raised its position in Abbott Laboratories by 1.3% in the 4th quarter. Delta Asset Management LLC TN now owns 11,614 shares of the healthcare product maker’s stock valued at $840,000 after buying an additional 150 shares during the last quarter. Annex Advisory Services LLC raised its position in Abbott Laboratories by 1.0% in the 4th quarter. Annex Advisory Services LLC now owns 15,089 shares of the healthcare product maker’s stock valued at $1,091,000 after buying an additional 150 shares during the last quarter. Fairview Capital Investment Management LLC raised its position in Abbott Laboratories by 2.5% in the 4th quarter. Fairview Capital Investment Management LLC now owns 6,168 shares of the healthcare product maker’s stock valued at $446,000 after buying an additional 151 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC raised its position in Abbott Laboratories by 0.5% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 28,602 shares of the healthcare product maker’s stock valued at $2,286,000 after buying an additional 152 shares during the last quarter. 74.70% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:ABT opened at $76.51 on Thursday. The firm has a market capitalization of $133.20 billion, a price-to-earnings ratio of 26.57, a price-to-earnings-growth ratio of 2.12 and a beta of 1.11. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.61. Abbott Laboratories has a 1 year low of $60.31 and a 1 year high of $80.74.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. The firm had revenue of $7.54 billion during the quarter, compared to the consensus estimate of $7.49 billion. Abbott Laboratories had a return on equity of 16.86% and a net margin of 8.53%. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.59 EPS. On average, equities analysts forecast that Abbott Laboratories will post 3.22 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th were paid a $0.32 dividend. The ex-dividend date of this dividend was Friday, April 12th. This represents a $1.28 dividend on an annualized basis and a yield of 1.67%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.44%.

A number of equities research analysts recently commented on ABT shares. Zacks Investment Research lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, March 5th. Bank of America reissued a “buy” rating and issued a $81.00 price target (up from $73.00) on shares of Abbott Laboratories in a research report on Thursday, February 7th. Wells Fargo & Co reissued a “buy” rating on shares of Abbott Laboratories in a research report on Thursday, March 14th. Royal Bank of Canada increased their price target on Abbott Laboratories to $82.00 and gave the company a “buy” rating in a research report on Monday, April 15th. They noted that the move was a valuation call. Finally, BTIG Research reissued a “hold” rating on shares of Abbott Laboratories in a research report on Thursday, January 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $80.36.

In other Abbott Laboratories news, insider Jared Watkin sold 309,429 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $78.51, for a total value of $24,293,270.79. Following the completion of the transaction, the insider now owns 189,227 shares in the company, valued at approximately $14,856,211.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian B. Yoor sold 2,246 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $78.00, for a total value of $175,188.00. Following the completion of the transaction, the chief financial officer now owns 116,627 shares of the company’s stock, valued at approximately $9,096,906. The disclosure for this sale can be found here. Insiders sold a total of 551,643 shares of company stock valued at $42,471,501 in the last 90 days. Corporate insiders own 0.70% of the company’s stock.

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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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