Bokf Na Trims Stock Holdings in Abbott Laboratories (NYSE:ABT)

Bokf Na lessened its stake in shares of Abbott Laboratories (NYSE:ABT) by 3.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 189,418 shares of the healthcare product maker’s stock after selling 6,720 shares during the quarter. Bokf Na’s holdings in Abbott Laboratories were worth $14,947,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Bamco Inc. NY boosted its position in shares of Abbott Laboratories by 37.2% during the 4th quarter. Bamco Inc. NY now owns 9,596 shares of the healthcare product maker’s stock worth $834,000 after purchasing an additional 2,600 shares during the period. Cetera Advisor Networks LLC lifted its stake in Abbott Laboratories by 12.3% during the fourth quarter. Cetera Advisor Networks LLC now owns 40,256 shares of the healthcare product maker’s stock worth $3,491,000 after purchasing an additional 4,411 shares in the last quarter. Fisher Asset Management LLC lifted its stake in Abbott Laboratories by 1,199.2% during the first quarter. Fisher Asset Management LLC now owns 3,563,878 shares of the healthcare product maker’s stock worth $281,226,000 after purchasing an additional 3,289,573 shares in the last quarter. Capital Wealth Planning LLC boosted its position in shares of Abbott Laboratories by 6.3% during the fourth quarter. Capital Wealth Planning LLC now owns 529,600 shares of the healthcare product maker’s stock worth $46,001,000 after buying an additional 31,200 shares during the period. Finally, Alliancebernstein L.P. grew its stake in shares of Abbott Laboratories by 4.5% in the fourth quarter. Alliancebernstein L.P. now owns 14,072,375 shares of the healthcare product maker’s stock valued at $1,222,326,000 after buying an additional 610,015 shares in the last quarter. 73.64% of the stock is owned by institutional investors.

A number of equities analysts recently commented on ABT shares. Wells Fargo & Co raised their target price on Abbott Laboratories from $95.00 to $107.00 and gave the company an “overweight” rating in a report on Friday, April 17th. SVB Leerink lowered their price objective on shares of Abbott Laboratories from $102.00 to $93.00 and set a “market perform” rating for the company in a research note on Wednesday, April 8th. BTIG Research reaffirmed a “hold” rating on shares of Abbott Laboratories in a research note on Thursday, April 16th. Raymond James increased their target price on shares of Abbott Laboratories from $92.00 to $102.00 and gave the stock an “outperform” rating in a report on Friday, April 17th. Finally, Zacks Investment Research downgraded shares of Abbott Laboratories from a “hold” rating to a “sell” rating and set a $98.00 price target for the company. in a research note on Wednesday, April 15th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $98.76.

Abbott Laboratories stock traded down $0.99 during midday trading on Wednesday, reaching $91.63. The company’s stock had a trading volume of 5,711,201 shares, compared to its average volume of 6,860,380. The company has a market cap of $164.52 billion, a P/E ratio of 45.69, a P/E/G ratio of 3.86 and a beta of 0.97. The company has a quick ratio of 1.01, a current ratio of 1.43 and a debt-to-equity ratio of 0.55. The business has a 50-day simple moving average of $92.29 and a 200-day simple moving average of $86.25. Abbott Laboratories has a fifty-two week low of $61.61 and a fifty-two week high of $100.00.

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

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 8th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.35%. Abbott Laboratories’s dividend payout ratio is currently 44.44%.

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

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.

See Also: Preferred Stock

Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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