Public Employees Retirement Association of Colorado Sells 9,412 Shares of Abbott Laboratories (NYSE:ABT)

Public Employees Retirement Association of Colorado reduced its holdings in shares of Abbott Laboratories (NYSE:ABT) by 0.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,268,803 shares of the healthcare product maker’s stock after selling 9,412 shares during the quarter. Public Employees Retirement Association of Colorado owned 0.07% of Abbott Laboratories worth $147,092,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in ABT. Camden National Bank lifted its holdings in shares of Abbott Laboratories by 1.5% during the fourth quarter. Camden National Bank now owns 7,707 shares of the healthcare product maker’s stock valued at $844,000 after purchasing an additional 114 shares in the last quarter. E Fund Management Co. Ltd. purchased a new stake in Abbott Laboratories in the first quarter worth about $473,000. Quilter Plc increased its position in Abbott Laboratories by 9.8% in the first quarter. Quilter Plc now owns 17,313 shares of the healthcare product maker’s stock worth $2,075,000 after buying an additional 1,549 shares in the last quarter. Y Intercept Hong Kong Ltd increased its position in Abbott Laboratories by 26.0% in the first quarter. Y Intercept Hong Kong Ltd now owns 4,635 shares of the healthcare product maker’s stock worth $555,000 after buying an additional 955 shares in the last quarter. Finally, Harbour Investments Inc. purchased a new stake in Abbott Laboratories in the first quarter worth about $241,000. 72.05% of the stock is currently owned by hedge funds and other institutional investors.

NYSE ABT traded up $0.27 during trading on Thursday, hitting $117.27. 114,331 shares of the stock traded hands, compared to its average volume of 5,370,625. The company has a market capitalization of $207.90 billion, a P/E ratio of 32.96, a price-to-earnings-growth ratio of 2.45 and a beta of 0.66. The firm has a 50-day simple moving average of $123.59 and a 200-day simple moving average of $119.60. The company has a quick ratio of 1.36, a current ratio of 1.79 and a debt-to-equity ratio of 0.52. Abbott Laboratories has a 12-month low of $103.13 and a 12-month high of $129.70.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, July 21st. The healthcare product maker reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.15. The business had revenue of $10.22 billion during the quarter, compared to analysts’ expectations of $9.67 billion. Abbott Laboratories had a return on equity of 26.75% and a net margin of 15.85%. The firm’s revenue for the quarter was up 41.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.57 EPS. As a group, research analysts predict that Abbott Laboratories will post 4.42 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 15th. Stockholders of record on Friday, October 15th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.53%. The ex-dividend date is Thursday, October 14th. Abbott Laboratories’s payout ratio is 49.32%.

A number of brokerages have commented on ABT. Raymond James upped their price target on Abbott Laboratories from $116.00 to $128.00 and gave the stock an “outperform” rating in a research report on Friday, July 23rd. Zacks Investment Research upgraded Abbott Laboratories from a “strong sell” rating to a “hold” rating and set a $127.00 price target for the company in a research report on Tuesday, August 3rd. SVB Leerink increased their target price on Abbott Laboratories from $115.00 to $128.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 20th. Redburn Partners assumed coverage on Abbott Laboratories in a research report on Thursday. They set a “neutral” rating and a $132.28 target price for the company. Finally, Cowen reiterated a “buy” rating and set a $140.00 target price on shares of Abbott Laboratories in a research report on Friday, October 8th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $130.52.

In other 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 value of $17,054,509.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Andrea F. Wainer sold 14,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 17th. The shares were sold at an average price of $125.00, for a total value of $1,812,500.00. Following the completion of the sale, the executive vice president now directly owns 54,282 shares of the company’s stock, valued at $6,785,250. The disclosure for this sale can be found here. Insiders sold a total of 222,883 shares of company stock valued at $27,964,400 over the last ninety days. Corporate insiders own 1.50% of the company’s stock.

Abbott Laboratories 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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