Linscomb & Williams Inc. Cuts Stake in Abbott Laboratories (NYSE:ABT)

Linscomb & Williams Inc. cut its holdings in Abbott Laboratories (NYSE:ABT) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 104,319 shares of the healthcare product maker’s stock after selling 1,733 shares during the quarter. Abbott Laboratories makes up about 0.6% of Linscomb & Williams Inc.’s investment portfolio, making the stock its 27th largest position. Linscomb & Williams Inc.’s holdings in Abbott Laboratories were worth $11,482,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its stake in Abbott Laboratories by 4.3% in the third quarter. Wellington Management Group LLP now owns 31,208,711 shares of the healthcare product maker’s stock valued at $3,022,564,000 after purchasing an additional 1,298,219 shares during the last quarter. Northern Trust Corp grew its position in shares of Abbott Laboratories by 1.5% in the 3rd quarter. Northern Trust Corp now owns 23,016,235 shares of the healthcare product maker’s stock worth $2,229,122,000 after buying an additional 343,559 shares during the last quarter. Norges Bank bought a new position in shares of Abbott Laboratories during the 4th quarter worth approximately $2,115,836,000. Charles Schwab Investment Management Inc. lifted its position in Abbott Laboratories by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,360,908 shares of the healthcare product maker’s stock valued at $1,346,959,000 after acquiring an additional 207,031 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its stake in Abbott Laboratories by 2.4% in the fourth quarter. Fisher Asset Management LLC now owns 9,930,872 shares of the healthcare product maker’s stock valued at $1,093,091,000 after acquiring an additional 236,741 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Price Performance

Shares of NYSE ABT traded down $0.28 during mid-day trading on Friday, reaching $103.95. The company’s stock had a trading volume of 4,455,866 shares, compared to its average volume of 5,510,455. The stock has a market capitalization of $180.83 billion, a P/E ratio of 32.38, a P/E/G ratio of 2.50 and a beta of 0.76. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64. The stock has a 50-day moving average of $108.08 and a two-hundred day moving average of $109.63. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.11 and a current ratio of 1.60.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. The business had revenue of $9.96 billion for the quarter, compared to analyst estimates of $9.88 billion. During the same period last year, the company posted $1.03 EPS. The business’s revenue was up 2.2% on a year-over-year basis. On average, equities research analysts anticipate that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Insider Activity

In other news, EVP Lisa D. Earnhardt sold 22,852 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $106.25, for a total value of $2,428,025.00. Following the sale, the executive vice president now directly owns 61,462 shares of the company’s stock, valued at approximately $6,530,337.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Abbott Laboratories news, EVP Lisa D. Earnhardt sold 22,852 shares of Abbott Laboratories stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total value of $2,428,025.00. Following the completion of the transaction, the executive vice president now directly owns 61,462 shares of the company’s stock, valued at approximately $6,530,337.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Daniel Gesua Sive Salvadori sold 963 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $114,115.50. Following the sale, the executive vice president now directly owns 125,697 shares in the company, valued at approximately $14,895,094.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,384 shares of company stock valued at $3,653,916. 1.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Citigroup dropped their price target on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a research note on Wednesday. Barclays reduced their price target on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a research report on Monday, April 22nd. Raymond James reaffirmed a “buy” rating and issued a $124.00 price objective on shares of Abbott Laboratories in a report on Wednesday, April 24th. Royal Bank of Canada reduced their target price on shares of Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a report on Thursday, April 18th. Finally, Evercore ISI upped their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $120.60.

Abbott Laboratories Profile

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.