Isthmus Partners LLC Decreases Position in Abbott Laboratories (ABT)

Isthmus Partners LLC trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT) by 2.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 139,520 shares of the healthcare product maker’s stock after selling 3,421 shares during the quarter. Abbott Laboratories accounts for about 2.1% of Isthmus Partners LLC’s holdings, making the stock its 8th largest position. Isthmus Partners LLC’s holdings in Abbott Laboratories were worth $7,445,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Abbott Laboratories by 2.6% during the second quarter. Vanguard Group Inc. now owns 129,786,955 shares of the healthcare product maker’s stock valued at $6,308,944,000 after acquiring an additional 3,241,063 shares during the last quarter. State Street Corp increased its position in shares of Abbott Laboratories by 18.9% during the first quarter. State Street Corp now owns 80,499,469 shares of the healthcare product maker’s stock valued at $3,574,987,000 after acquiring an additional 12,806,535 shares during the last quarter. Capital Research Global Investors increased its position in shares of Abbott Laboratories by 45.7% during the second quarter. Capital Research Global Investors now owns 47,589,663 shares of the healthcare product maker’s stock valued at $2,313,334,000 after acquiring an additional 14,918,038 shares during the last quarter. Northern Trust Corp increased its position in shares of Abbott Laboratories by 3.1% during the second quarter. Northern Trust Corp now owns 26,865,706 shares of the healthcare product maker’s stock valued at $1,305,942,000 after acquiring an additional 809,732 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Abbott Laboratories by 28.6% during the second quarter. Dimensional Fund Advisors LP now owns 11,722,088 shares of the healthcare product maker’s stock valued at $569,830,000 after acquiring an additional 2,606,404 shares during the last quarter. 71.15% of the stock is owned by institutional investors.

ABT has been the subject of a number of recent research reports. Zacks Investment Research downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. JPMorgan Chase & Co. initiated coverage on Abbott Laboratories in a research report on Friday, October 6th. They issued a “neutral” rating and a $60.00 target price for the company. Royal Bank of Canada reissued a “buy” rating and issued a $55.00 target price on shares of Abbott Laboratories in a research report on Tuesday, October 3rd. Cowen set a $68.00 target price on Abbott Laboratories and gave the stock a “buy” rating in a research report on Thursday, October 19th. Finally, ValuEngine raised Abbott Laboratories from a “hold” rating to a “buy” rating in a research report on Wednesday, November 22nd. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $59.59.

In related news, insider Daniel Gesua Sive Salvadori sold 28,319 shares of Abbott Laboratories stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $54.92, for a total transaction of $1,555,279.48. Following the completion of the sale, the insider now owns 102,117 shares of the company’s stock, valued at $5,608,265.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Miles D. White sold 276,886 shares of Abbott Laboratories stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $54.41, for a total value of $15,065,367.26. Following the sale, the chairman now directly owns 3,677,913 shares of the company’s stock, valued at approximately $200,115,246.33. The disclosure for this sale can be found here. Insiders sold 501,172 shares of company stock valued at $27,533,150 over the last ninety days. Corporate insiders own 0.76% of the company’s stock.

Abbott Laboratories (NYSE:ABT) opened at $58.99 on Friday. Abbott Laboratories has a twelve month low of $39.25 and a twelve month high of $59.60. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.69 and a quick ratio of 2.26. The company has a market capitalization of $102,382.15, a price-to-earnings ratio of 24.41, a PEG ratio of 1.87 and a beta of 1.06.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 EPS for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.01. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. The firm had revenue of $6.83 billion during the quarter, compared to analyst estimates of $6.72 billion. During the same period last year, the company earned $0.59 earnings per share. The business’s revenue for the quarter was up 28.8% on a year-over-year basis. research analysts anticipate that Abbott Laboratories will post 2.5 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be issued a $0.28 dividend. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date is Thursday, January 11th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 83.47%.

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Abbott Laboratories Profile

Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.

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

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