JustInvest LLC Raises Holdings in Abbott Laboratories (NYSE:ABT)

JustInvest LLC boosted its position in Abbott Laboratories (NYSE:ABT) by 74.2% in the first quarter, Holdings Channel.com reports. The firm owned 33,569 shares of the healthcare product maker’s stock after acquiring an additional 14,303 shares during the quarter. Abbott Laboratories makes up about 0.6% of JustInvest LLC’s holdings, making the stock its 22nd largest position. JustInvest LLC’s holdings in Abbott Laboratories were worth $4,023,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Morgan Stanley increased its holdings in Abbott Laboratories by 5.2% in the fourth quarter. Morgan Stanley now owns 26,687,412 shares of the healthcare product maker’s stock valued at $2,922,006,000 after buying an additional 1,316,343 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Abbott Laboratories by 2.8% in the fourth quarter. Bank of New York Mellon Corp now owns 21,322,955 shares of the healthcare product maker’s stock valued at $2,334,649,000 after buying an additional 572,841 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Abbott Laboratories by 1.2% in the fourth quarter. Wells Fargo & Company MN now owns 20,057,853 shares of the healthcare product maker’s stock valued at $2,196,135,000 after buying an additional 229,413 shares in the last quarter. FMR LLC increased its stake in shares of Abbott Laboratories by 20.3% during the 4th quarter. FMR LLC now owns 18,139,806 shares of the healthcare product maker’s stock worth $1,986,127,000 after purchasing an additional 3,058,593 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Abbott Laboratories during the 4th quarter worth approximately $1,881,512,000. Hedge funds and other institutional investors own 72.58% of the company’s stock.

In related news, EVP Mary K. Moreland sold 505 shares of Abbott Laboratories stock in a transaction on Tuesday, February 16th. The shares were sold at an average price of $128.49, for a total transaction of $64,887.45. Following the transaction, the executive vice president now owns 63,878 shares in the company, valued at approximately $8,207,684.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mary K. Moreland sold 400 shares of Abbott Laboratories stock in a transaction on Monday, February 22nd. The shares were sold at an average price of $121.84, for a total transaction of $48,736.00. Following the transaction, the executive vice president now owns 76,886 shares in the company, valued at approximately $9,367,790.24. The disclosure for this sale can be found here. Insiders have sold a total of 8,726 shares of company stock worth $1,064,230 in the last 90 days. Company insiders own 1.70% of the company’s stock.

Shares of ABT traded down $1.51 during mid-day trading on Tuesday, reaching $118.02. The company had a trading volume of 98,678 shares, compared to its average volume of 5,216,047. The stock has a market cap of $209.08 billion, a price-to-earnings ratio of 63.24, a price-to-earnings-growth ratio of 2.06 and a beta of 0.83. The firm has a fifty day simple moving average of $120.90 and a 200-day simple moving average of $115.19. Abbott Laboratories has a fifty-two week low of $86.16 and a fifty-two week high of $128.54. The company has a current ratio of 1.70, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Monday, April 19th. The healthcare product maker reported $1.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.05. The company had revenue of $10.45 billion for the quarter, compared to analyst estimates of $10.72 billion. Abbott Laboratories had a net margin of 10.50% and a return on equity of 18.19%. Abbott Laboratories’s revenue for the quarter was up 35.2% on a year-over-year basis. During the same quarter last year, the business earned $0.65 EPS. As a group, equities analysts predict that Abbott Laboratories will post 3.57 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 17th. Investors of record on Thursday, April 15th will be issued a dividend of $0.45 per share. The ex-dividend date is Wednesday, April 14th. This represents a $1.80 annualized dividend and a dividend yield of 1.53%. Abbott Laboratories’s payout ratio is 55.56%.

A number of brokerages have recently weighed in on ABT. Atlantic Securities began coverage on shares of Abbott Laboratories in a research note on Wednesday, April 21st. They set a “neutral” rating and a $122.00 price objective for the company. Raymond James raised their price objective on shares of Abbott Laboratories from $126.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 17th. BTIG Research raised shares of Abbott Laboratories from a “neutral” rating to a “buy” rating and set a $140.00 price objective for the company in a research note on Thursday, January 28th. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $130.00 price objective for the company in a research note on Tuesday, February 2nd. Finally, Cowen lifted their target price on shares of Abbott Laboratories from $113.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, January 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $126.06.

Abbott Laboratories Company Profile

Abbott Laboratories 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 Established Pharmaceutical Products segment 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.

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

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