Abbott Laboratories (ABT) Position Lowered by ING Groep NV

ING Groep NV lessened its position in shares of Abbott Laboratories (NYSE:ABT) by 57.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,180 shares of the healthcare product maker’s stock after selling 16,768 shares during the quarter. ING Groep NV’s holdings in Abbott Laboratories were worth $650,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Research Global Investors increased its stake in Abbott Laboratories by 45.7% during 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. Janus Henderson Group PLC increased its stake in Abbott Laboratories by 3,373.9% during the 2nd quarter. Janus Henderson Group PLC now owns 7,874,473 shares of the healthcare product maker’s stock valued at $382,779,000 after purchasing an additional 7,647,798 shares in the last quarter. Vanguard Group Inc. increased its stake in Abbott Laboratories by 2.6% during 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. Dimensional Fund Advisors LP increased its stake in Abbott Laboratories by 28.6% during 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, Boston Partners increased its stake in shares of Abbott Laboratories by 28.1% in the second quarter. Boston Partners now owns 10,516,502 shares of the healthcare product maker’s stock worth $511,207,000 after acquiring an additional 2,304,467 shares during the period. Hedge funds and other institutional investors own 71.19% of the company’s stock.

In related news, insider Alejandro D. Wellisch sold 2,153 shares of the stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $55.86, for a total transaction of $120,266.58. Following the sale, the insider now directly owns 10,256 shares of the company’s stock, valued at $572,900.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel Gesua Sive Salvadori sold 28,319 shares of the 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 sale, the insider now directly owns 102,117 shares in the company, valued at $5,608,265.64. The disclosure for this sale can be found here. Insiders have sold 501,172 shares of company stock worth $27,533,150 over the last three months. 0.76% of the stock is currently owned by insiders.

ABT has been the topic of a number of research reports. ValuEngine lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Barclays reiterated a “buy” rating and issued a $66.00 price objective on shares of Abbott Laboratories in a research note on Monday, January 8th. Stifel Nicolaus increased their price objective on shares of Abbott Laboratories from $58.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, October 19th. BMO Capital Markets reiterated a “market perform” rating on shares of Abbott Laboratories in a research note on Thursday, October 19th. Finally, Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a research note on Tuesday, October 31st. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $60.24.

Shares of Abbott Laboratories (NYSE ABT) opened at $59.07 on Friday. Abbott Laboratories has a twelve month low of $39.25 and a twelve month high of $59.60. The stock has a market cap of $102,678.05, a price-to-earnings ratio of 46.51, a P/E/G ratio of 1.88 and a beta of 1.06. 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 announced its quarterly earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.01. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The firm had revenue of $6.83 billion for the quarter, compared to the consensus estimate of $6.72 billion. During the same period in the prior year, the firm posted $0.59 earnings per share. The firm’s quarterly revenue was up 28.8% compared to the same quarter last year. analysts anticipate that Abbott Laboratories will post 2.5 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be issued a dividend of $0.28 per share. The ex-dividend date is Thursday, January 11th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a yield of 1.90%. Abbott Laboratories’s dividend payout ratio is 88.19%.

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Abbott Laboratories Company 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.

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

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