Sei Investments Co. Sells 62,565 Shares of Abbott Laboratories (ABT)

Sei Investments Co. lowered its stake in shares of Abbott Laboratories (NYSE:ABT) by 11.6% in the third quarter, Holdings Channel reports. The institutional investor owned 477,057 shares of the healthcare product maker’s stock after selling 62,565 shares during the period. Sei Investments Co.’s holdings in Abbott Laboratories were worth $25,456,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ABT. Vanguard Group Inc. increased its stake in shares of Abbott Laboratories by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 129,786,955 shares of the healthcare product maker’s stock valued at $6,308,944,000 after purchasing an additional 3,241,063 shares in the last quarter. Capital Research Global Investors increased its stake in shares of Abbott Laboratories by 45.7% in the 2nd 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 purchasing an additional 14,918,038 shares in the last quarter. Northern Trust Corp increased its stake in shares of Abbott Laboratories by 3.1% in the 2nd quarter. Northern Trust Corp now owns 26,865,706 shares of the healthcare product maker’s stock valued at $1,305,942,000 after purchasing an additional 809,732 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Abbott Laboratories by 28.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 11,722,088 shares of the healthcare product maker’s stock valued at $569,830,000 after purchasing an additional 2,606,404 shares in the last quarter. Finally, Alliancebernstein L.P. increased its stake in shares of Abbott Laboratories by 7.7% in the 2nd quarter. Alliancebernstein L.P. now owns 11,607,121 shares of the healthcare product maker’s stock valued at $564,222,000 after purchasing an additional 830,610 shares in the last quarter. Institutional investors and hedge funds own 71.15% of the company’s stock.

ABT has been the subject of several recent analyst reports. Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a research note on Tuesday, October 31st. Royal Bank of Canada reiterated a “buy” rating and set a $55.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, October 3rd. BMO Capital Markets upgraded Abbott Laboratories from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $58.00 to $65.00 in a research note on Tuesday, December 12th. ValuEngine lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Jefferies Group reiterated a “buy” rating and set a $65.00 price objective on shares of Abbott Laboratories in a research note on Thursday, October 19th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $59.94.

In other news, insider Alejandro D. Wellisch sold 2,153 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $55.86, for a total transaction of $120,266.58. Following the transaction, the insider now directly owns 10,256 shares in the company, valued at approximately $572,900.16. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Miles D. White sold 276,886 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $54.41, for a total value of $15,065,367.26. Following the transaction, the chairman now owns 3,677,913 shares in the company, valued at $200,115,246.33. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 501,172 shares of company stock worth $27,533,150. Insiders own 0.76% of the company’s stock.

Abbott Laboratories (NYSE:ABT) opened at $58.82 on Tuesday. The firm has a market capitalization of $102,380.00, a P/E ratio of 48.61, a PEG ratio of 1.88 and a beta of 1.55. Abbott Laboratories has a twelve month low of $39.25 and a twelve month high of $59.60. The company has a current ratio of 2.69, a quick ratio of 2.26 and a debt-to-equity ratio of 0.72.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The business had revenue of $6.83 billion for the quarter, compared to analysts’ expectations of $6.72 billion. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. The business’s revenue for the quarter was up 28.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.59 EPS. research analysts predict that Abbott Laboratories will post 2.5 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be issued a dividend of $0.28 per share. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Thursday, January 11th. Abbott Laboratories’s payout ratio is currently 87.60%.

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About Abbott Laboratories

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.

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

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