Abbott Laboratories (ABT) Shares Sold by Estabrook Capital Management

Estabrook Capital Management cut its stake in Abbott Laboratories (NYSE:ABT) by 10.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,143 shares of the healthcare product maker’s stock after selling 1,300 shares during the period. Estabrook Capital Management’s holdings in Abbott Laboratories were worth $817,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. BlackRock Inc. increased its holdings in Abbott Laboratories by 0.9% in the third quarter. BlackRock Inc. now owns 117,203,489 shares of the healthcare product maker’s stock valued at $8,598,048,000 after buying an additional 1,053,749 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Abbott Laboratories by 102,159.4% in the third quarter. Bank of New York Mellon Corp now owns 27,234,758 shares of the healthcare product maker’s stock valued at $1,997,943,000 after buying an additional 27,208,125 shares in the last quarter. Morgan Stanley increased its holdings in Abbott Laboratories by 33.1% in the second quarter. Morgan Stanley now owns 21,218,276 shares of the healthcare product maker’s stock valued at $1,294,103,000 after buying an additional 5,274,307 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Abbott Laboratories by 12.0% during the 2nd quarter. Janus Henderson Group PLC now owns 13,708,172 shares of the healthcare product maker’s stock worth $836,067,000 after purchasing an additional 1,468,430 shares in the last quarter. Finally, FMR LLC increased its stake in shares of Abbott Laboratories by 9.0% during the 3rd quarter. FMR LLC now owns 10,890,867 shares of the healthcare product maker’s stock worth $798,955,000 after purchasing an additional 896,087 shares in the last quarter. 72.83% of the stock is owned by institutional investors.

In related news, insider Brian J. Blaser sold 58,200 shares of the firm’s stock in a transaction that occurred on Thursday, September 20th. The shares were sold at an average price of $68.79, for a total transaction of $4,003,578.00. Following the sale, the insider now owns 184,918 shares in the company, valued at $12,720,509.22. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Miles D. White sold 142,341 shares of the firm’s stock in a transaction that occurred on Wednesday, November 28th. The stock was sold at an average price of $72.35, for a total transaction of $10,298,371.35. Following the sale, the chairman now owns 3,459,185 shares in the company, valued at approximately $250,272,034.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 272,273 shares of company stock worth $19,410,942. 0.74% of the stock is owned by company insiders.

A number of research analysts have recently weighed in on ABT shares. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $77.00 price objective for the company in a research note on Tuesday, September 18th. Barclays started coverage on shares of Abbott Laboratories in a research note on Monday, October 15th. They set an “overweight” rating and a $80.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on shares of Abbott Laboratories from $77.00 to $81.00 and gave the stock an “overweight” rating in a research note on Monday, October 8th. Royal Bank of Canada raised their price objective on shares of Abbott Laboratories to $77.00 and gave the stock an “outperform” rating in a research note on Thursday, October 11th. Finally, Raymond James raised their price objective on shares of Abbott Laboratories from $77.00 to $79.00 and gave the stock an “outperform” rating in a research note on Thursday, October 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $75.90.

Shares of NYSE ABT opened at $74.27 on Tuesday. Abbott Laboratories has a 1 year low of $54.32 and a 1 year high of $74.92. The company has a market cap of $130.06 billion, a P/E ratio of 29.71, a PEG ratio of 2.20 and a beta of 1.40. The company has a current ratio of 1.42, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 17th. The healthcare product maker reported $0.75 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.75. Abbott Laboratories had a net margin of 2.91% and a return on equity of 16.05%. The firm had revenue of $7.66 billion for the quarter, compared to analyst estimates of $7.65 billion. During the same quarter last year, the business earned $0.66 earnings per share. Abbott Laboratories’s revenue was up 12.1% compared to the same quarter last year. Sell-side analysts anticipate that Abbott Laboratories will post 2.89 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Monday, October 15th were given a dividend of $0.28 per share. The ex-dividend date was Friday, October 12th. This represents a $1.12 dividend on an annualized basis and a yield of 1.51%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 44.80%.

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Abbott Laboratories Profile

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.

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

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