Factory Mutual Insurance Co. Lowers Stock Position in Abbott Laboratories (NYSE:ABT)

Factory Mutual Insurance Co. decreased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 11.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 466,800 shares of the healthcare product maker’s stock after selling 62,500 shares during the period. Factory Mutual Insurance Co.’s holdings in Abbott Laboratories were worth $39,057,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its position in Abbott Laboratories by 1.5% during the second quarter. Vanguard Group Inc. now owns 148,332,948 shares of the healthcare product maker’s stock worth $12,474,801,000 after buying an additional 2,262,152 shares during the period. BlackRock Inc. grew its holdings in shares of Abbott Laboratories by 1.8% in the 2nd quarter. BlackRock Inc. now owns 126,525,967 shares of the healthcare product maker’s stock worth $10,640,833,000 after acquiring an additional 2,199,601 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Abbott Laboratories by 0.9% in the 2nd quarter. Janus Henderson Group PLC now owns 17,025,499 shares of the healthcare product maker’s stock worth $1,431,723,000 after acquiring an additional 149,307 shares during the period. Nuveen Asset Management LLC grew its holdings in shares of Abbott Laboratories by 7,888.6% in the 2nd quarter. Nuveen Asset Management LLC now owns 12,377,944 shares of the healthcare product maker’s stock worth $1,040,985,000 after acquiring an additional 12,222,999 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Abbott Laboratories by 2.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 7,653,964 shares of the healthcare product maker’s stock valued at $643,699,000 after purchasing an additional 199,283 shares in the last quarter. 73.78% of the stock is owned by institutional investors and hedge funds.

A number of research firms have commented on ABT. ValuEngine downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. BMO Capital Markets raised their price target on Abbott Laboratories from $87.00 to $94.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Cowen lifted their price target on Abbott Laboratories from $86.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Zacks Investment Research lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating and set a $93.00 price objective on the stock. in a research report on Wednesday, August 21st. Finally, Raymond James decreased their price objective on shares of Abbott Laboratories from $93.00 to $90.00 and set an “outperform” rating on the stock in a research report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $87.61.

In other Abbott Laboratories news, Director Sally E. Blount sold 2,500 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $87.65, for a total value of $219,125.00. Following the completion of the transaction, the director now directly owns 26,266 shares in the company, valued at approximately $2,302,214.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brian B. Yoor sold 43,763 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $85.77, for a total value of $3,753,552.51. Following the transaction, the chief financial officer now directly owns 125,781 shares in the company, valued at approximately $10,788,236.37. The disclosure for this sale can be found here. Insiders have sold a total of 181,497 shares of company stock worth $15,701,810 over the last ninety days. 0.70% of the stock is owned by corporate insiders.

Shares of NYSE ABT traded down $0.31 during trading on Tuesday, reaching $81.34. The company had a trading volume of 2,107,050 shares, compared to its average volume of 4,617,301. The company has a current ratio of 1.68, a quick ratio of 1.20 and a debt-to-equity ratio of 0.60. Abbott Laboratories has a twelve month low of $65.44 and a twelve month high of $88.76. The stock has a 50-day moving average price of $82.72 and a two-hundred day moving average price of $81.80. The stock has a market capitalization of $146.32 billion, a PE ratio of 28.24, a price-to-earnings-growth ratio of 2.39 and a beta of 1.13.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $0.84 EPS for the quarter, meeting analysts’ consensus estimates of $0.84. The business had revenue of $8.08 billion for the quarter, compared to analyst estimates of $8.10 billion. Abbott Laboratories had a return on equity of 17.76% and a net margin of 10.50%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.75 earnings per share. On average, sell-side analysts predict that Abbott Laboratories will post 3.25 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a dividend of $0.32 per share. The ex-dividend date is Friday, October 11th. This represents a $1.28 annualized dividend and a dividend yield of 1.57%. Abbott Laboratories’s dividend payout ratio is currently 44.44%.

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 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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