Carderock Capital Management Inc. Lowers Holdings in Abbott Laboratories (NYSE:ABT)

Carderock Capital Management Inc. lowered its holdings in Abbott Laboratories (NYSE:ABT) by 1.4% during the first quarter, Holdings Channel.com reports. The firm owned 58,104 shares of the healthcare product maker’s stock after selling 849 shares during the period. Abbott Laboratories makes up 2.1% of Carderock Capital Management Inc.’s holdings, making the stock its 21st biggest holding. Carderock Capital Management Inc.’s holdings in Abbott Laboratories were worth $4,585,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of ABT. Norges Bank purchased a new position in shares of Abbott Laboratories during the 4th quarter worth $1,463,224,000. Polen Capital Management LLC boosted its stake in Abbott Laboratories by 7,236.6% during the fourth quarter. Polen Capital Management LLC now owns 8,924,157 shares of the healthcare product maker’s stock worth $775,152,000 after buying an additional 8,802,518 shares during the period. Veritas Asset Management LLP acquired a new stake in shares of Abbott Laboratories during the first quarter valued at about $398,420,000. BlackRock Inc. raised its stake in shares of Abbott Laboratories by 2.7% in the 1st quarter. BlackRock Inc. now owns 128,123,947 shares of the healthcare product maker’s stock valued at $10,110,260,000 after acquiring an additional 3,395,345 shares during the period. Finally, Fisher Asset Management LLC lifted its holdings in shares of Abbott Laboratories by 1,199.2% in the 1st quarter. Fisher Asset Management LLC now owns 3,563,878 shares of the healthcare product maker’s stock worth $281,226,000 after acquiring an additional 3,289,573 shares during the last quarter. Institutional investors own 74.89% of the company’s stock.

In other Abbott Laboratories news, VP Philip P. Boudreau sold 10,600 shares of the stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $82.00, for a total value of $869,200.00. Following the transaction, the vice president now directly owns 22,463 shares in the company, valued at $1,841,966. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Andrew H. Lane sold 80,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $92.00, for a total transaction of $7,360,000.00. Following the sale, the executive vice president now directly owns 107,090 shares in the company, valued at approximately $9,852,280. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 166,186 shares of company stock valued at $15,359,524. Insiders own 1.70% of the company’s stock.

A number of research analysts have commented on ABT shares. SVB Leerink decreased their price target on Abbott Laboratories from $102.00 to $93.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 8th. Cfra increased their target price on Abbott Laboratories from $99.00 to $101.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Barclays lifted their target price on Abbott Laboratories from $92.00 to $100.00 and gave the company an “overweight” rating in a research report on Monday, April 20th. JPMorgan Chase & Co. boosted their price target on shares of Abbott Laboratories from $88.00 to $98.00 and gave the stock an “overweight” rating in a research note on Friday, April 17th. Finally, Stifel Nicolaus raised their price objective on shares of Abbott Laboratories from $85.00 to $108.00 in a research note on Friday, April 17th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $99.47.

Shares of NYSE:ABT traded up $0.21 during trading hours on Friday, reaching $90.60. The stock had a trading volume of 2,723,230 shares, compared to its average volume of 7,722,559. Abbott Laboratories has a 1 year low of $61.61 and a 1 year high of $100.00. The firm’s 50 day moving average is $89.78 and its 200-day moving average is $85.71. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.01 and a current ratio of 1.43. The stock has a market capitalization of $159.36 billion, a price-to-earnings ratio of 45.30, a P/E/G ratio of 3.74 and a beta of 0.98.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Thursday, April 16th. The healthcare product maker reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.07. The business had revenue of $7.73 billion during the quarter, compared to analysts’ expectations of $7.47 billion. Abbott Laboratories had a net margin of 11.15% and a return on equity of 18.61%. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.63 EPS. Analysts forecast that Abbott Laboratories will post 2.81 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 8th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.35%. Abbott Laboratories’s dividend payout ratio (DPR) is 44.44%.

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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