Pathstone Holdings LLC Lowers Holdings in Abbott Laboratories (NYSE:ABT)

Pathstone Holdings LLC cut its holdings in Abbott Laboratories (NYSE:ABT) by 1.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 259,511 shares of the healthcare product maker’s stock after selling 2,863 shares during the period. Pathstone Holdings LLC’s holdings in Abbott Laboratories were worth $29,352,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ABT. Norges Bank purchased a new stake in shares of Abbott Laboratories during the 4th quarter worth approximately $2,373,461,000. T. Rowe Price Investment Management Inc. raised its holdings in shares of Abbott Laboratories by 383.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,358,698 shares of the healthcare product maker’s stock worth $945,453,000 after acquiring an additional 6,628,310 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Abbott Laboratories during the 4th quarter worth approximately $635,056,000. Capital International Investors raised its holdings in shares of Abbott Laboratories by 3.4% during the 4th quarter. Capital International Investors now owns 67,972,953 shares of the healthcare product maker’s stock worth $7,688,160,000 after acquiring an additional 2,229,026 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Abbott Laboratories by 10.3% during the 4th quarter. Northern Trust Corp now owns 22,056,860 shares of the healthcare product maker’s stock valued at $2,494,851,000 after buying an additional 2,060,650 shares during the period. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Performance

Shares of NYSE ABT opened at $129.02 on Wednesday. The company’s fifty day moving average price is $129.57 and its 200 day moving average price is $123.72. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $141.23. The company has a market capitalization of $224.47 billion, a PE ratio of 16.87, a price-to-earnings-growth ratio of 2.52 and a beta of 0.74. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The firm had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.38 billion. On average, research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories’s dividend payout ratio is presently 30.61%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ABT shares. Stifel Nicolaus increased their price target on Abbott Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, April 17th. Royal Bank of Canada increased their price target on Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a research report on Thursday, April 17th. Citigroup boosted their price objective on shares of Abbott Laboratories from $135.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Bank of America boosted their price objective on shares of Abbott Laboratories from $133.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Finally, Wells Fargo & Company boosted their target price on shares of Abbott Laboratories from $136.00 to $147.00 and gave the stock an “overweight” rating in a research report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $142.59.

Insiders Place Their Bets

In other news, SVP Eric Shroff sold 562 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $138.17, for a total value of $77,651.54. Following the transaction, the senior vice president now directly owns 31,970 shares of the company’s stock, valued at approximately $4,417,294.90. This trade represents a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Lisa D. Earnhardt sold 91,167 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $133.82, for a total transaction of $12,199,967.94. Following the completion of the transaction, the executive vice president now directly owns 71,928 shares in the company, valued at approximately $9,625,404.96. This represents a 55.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 95,278 shares of company stock worth $12,745,859. Company insiders own 0.46% of the company’s stock.

About Abbott Laboratories

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.