Abbott Laboratories (NYSE:ABT) Shares Sold by Montag & Caldwell LLC

Montag & Caldwell LLC cut its stake in shares of Abbott Laboratories (NYSE:ABT) by 3.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,124,152 shares of the healthcare product maker’s stock after selling 35,953 shares during the quarter. Abbott Laboratories accounts for approximately 4.9% of Montag & Caldwell LLC’s holdings, making the stock its 4th biggest position. Montag & Caldwell LLC’s holdings in Abbott Laboratories were worth $94,541,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. FMR LLC lifted its holdings in Abbott Laboratories by 0.3% in the first quarter. FMR LLC now owns 23,827,545 shares of the healthcare product maker’s stock valued at $1,904,774,000 after acquiring an additional 65,260 shares during the period. Geode Capital Management LLC lifted its holdings in Abbott Laboratories by 8.7% in the fourth quarter. Geode Capital Management LLC now owns 22,133,985 shares of the healthcare product maker’s stock valued at $1,598,270,000 after acquiring an additional 1,778,840 shares during the period. Norges Bank acquired a new stake in Abbott Laboratories in the fourth quarter valued at $1,239,454,000. Janus Henderson Group PLC lifted its holdings in Abbott Laboratories by 0.9% in the second quarter. Janus Henderson Group PLC now owns 17,025,499 shares of the healthcare product maker’s stock valued at $1,431,723,000 after acquiring an additional 149,307 shares during the period. Finally, Legal & General Group Plc lifted its holdings in Abbott Laboratories by 8.8% in the fourth quarter. Legal & General Group Plc now owns 8,343,002 shares of the healthcare product maker’s stock valued at $603,446,000 after acquiring an additional 672,358 shares during the period. 73.42% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have commented on ABT. Jefferies Financial Group raised their target price on Abbott Laboratories from $80.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, July 18th. BMO Capital Markets raised their target price on Abbott Laboratories from $87.00 to $94.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Zacks Investment Research downgraded Abbott Laboratories from a “buy” rating to a “hold” rating and set a $84.00 target price for the company. in a report on Friday, June 7th. Raymond James raised their target price on Abbott Laboratories from $87.00 to $93.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Finally, William Blair reissued an “outperform” rating on shares of Abbott Laboratories in a report on Thursday, April 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $85.82.

In related news, insider Randel William Woodgrift sold 65,000 shares of Abbott Laboratories stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $88.01, for a total transaction of $5,720,650.00. Following the completion of the sale, the insider now owns 117,562 shares in the company, valued at approximately $10,346,631.62. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Brian J. Blaser sold 450,062 shares of Abbott Laboratories stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $75.52, for a total value of $33,988,682.24. Following the sale, the insider now owns 295,745 shares of the company’s stock, valued at approximately $22,334,662.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 885,102 shares of company stock valued at $71,110,429. 0.70% of the stock is currently owned by company insiders.

Shares of ABT stock traded up $0.34 during mid-day trading on Thursday, reaching $84.28. The stock had a trading volume of 156,483 shares, compared to its average volume of 5,327,106. Abbott Laboratories has a 12-month low of $63.07 and a 12-month high of $88.76. The firm has a market capitalization of $149.58 billion, a P/E ratio of 29.26, a P/E/G ratio of 2.38 and a beta of 1.12. The firm’s 50-day moving average is $85.77. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.68.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, July 17th. The healthcare product maker reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.02. Abbott Laboratories had a return on equity of 17.26% and a net margin of 9.36%. The business had revenue of $7.98 billion during the quarter, compared to analysts’ expectations of $8 billion. During the same quarter last year, the business posted $0.73 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities analysts forecast that Abbott Laboratories will post 3.24 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Friday, July 12th. Abbott Laboratories’s dividend payout ratio is presently 44.44%.

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 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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