Field & Main Bank Cuts Stake in Abbott Laboratories (NYSE:ABT)

Field & Main Bank reduced its stake in Abbott Laboratories (NYSE:ABT) by 1.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,700 shares of the healthcare product maker’s stock after selling 240 shares during the period. Abbott Laboratories makes up 1.2% of Field & Main Bank’s portfolio, making the stock its 21st biggest position. Field & Main Bank’s holdings in Abbott Laboratories were worth $1,855,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Abbott Laboratories by 0.9% in the second quarter. Vanguard Group Inc. now owns 147,844,584 shares of the healthcare product maker’s stock worth $17,139,623,000 after acquiring an additional 1,276,670 shares during the last quarter. State Street Corp boosted its position in shares of Abbott Laboratories by 1.7% during the second quarter. State Street Corp now owns 71,745,046 shares of the healthcare product maker’s stock valued at $8,317,403,000 after buying an additional 1,222,298 shares during the last quarter. Capital International Investors boosted its position in shares of Abbott Laboratories by 2.6% during the second quarter. Capital International Investors now owns 55,968,342 shares of the healthcare product maker’s stock valued at $6,488,764,000 after buying an additional 1,408,600 shares during the last quarter. Morgan Stanley boosted its position in shares of Abbott Laboratories by 4.5% during the second quarter. Morgan Stanley now owns 28,562,141 shares of the healthcare product maker’s stock valued at $3,311,209,000 after buying an additional 1,233,152 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Abbott Laboratories by 1.7% during the second quarter. Geode Capital Management LLC now owns 26,437,355 shares of the healthcare product maker’s stock valued at $3,054,988,000 after buying an additional 454,618 shares during the last quarter. 72.46% of the stock is currently owned by hedge funds and other institutional investors.

In other Abbott Laboratories news, EVP Andrew H. Lane sold 135,925 shares of the firm’s stock in a transaction that occurred on Friday, August 27th. The stock was sold at an average price of $125.47, for a total transaction of $17,054,509.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Andrea F. Wainer sold 9,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 2nd. The shares were sold at an average price of $127.50, for a total value of $1,211,250.00. The disclosure for this sale can be found here. Insiders have sold a total of 182,783 shares of company stock worth $23,066,012 in the last three months. 1.50% of the stock is owned by corporate insiders.

ABT has been the topic of several recent analyst reports. Redburn Partners initiated coverage on Abbott Laboratories in a research report on Thursday, October 14th. They set a “neutral” rating and a $132.28 price objective on the stock. Raymond James increased their target price on Abbott Laboratories from $128.00 to $134.00 and gave the company an “outperform” rating in a report on Thursday, October 21st. Morgan Stanley increased their target price on Abbott Laboratories from $136.00 to $146.00 and gave the company an “overweight” rating in a report on Thursday, October 21st. Cowen reissued a “buy” rating and issued a $140.00 target price on shares of Abbott Laboratories in a report on Friday, October 8th. Finally, Zacks Investment Research raised Abbott Laboratories from a “strong sell” rating to a “hold” rating and set a $127.00 target price on the stock in a report on Tuesday, August 3rd. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Abbott Laboratories currently has a consensus rating of “Buy” and a consensus target price of $134.94.

Shares of NYSE ABT traded up $0.59 during trading on Thursday, hitting $125.07. The company had a trading volume of 3,729,581 shares, compared to its average volume of 5,348,268. The stock has a 50 day simple moving average of $123.74 and a 200 day simple moving average of $120.66. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.42 and a current ratio of 1.83. Abbott Laboratories has a 12 month low of $105.32 and a 12 month high of $131.60. The firm has a market capitalization of $221.16 billion, a P/E ratio of 31.03, a price-to-earnings-growth ratio of 2.09 and a beta of 0.68.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Tuesday, October 19th. The healthcare product maker reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.46. The company had revenue of $10.93 billion for the quarter, compared to the consensus estimate of $9.56 billion. Abbott Laboratories had a return on equity of 28.39% and a net margin of 17.12%. The firm’s quarterly revenue was up 23.4% on a year-over-year basis. During the same quarter last year, the company earned $0.98 EPS. As a group, analysts predict that Abbott Laboratories will post 5.05 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, November 15th. Investors of record on Friday, October 15th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.44%. The ex-dividend date was Thursday, October 14th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.67%.

Abbott Laboratories Company Profile

Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following segments: Established Pharmaceutical Products, Nutritional Products, Diagnostic Products, and Medical Devices. The Established Pharmaceutical Products segment refers to the international sales of a line of branded generic pharmaceutical products.

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

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