Shell Asset Management Co. Sells 6,059 Shares of Abbott Laboratories (NYSE:ABT)

Shell Asset Management Co. lowered its position in Abbott Laboratories (NYSE:ABT) by 2.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 203,869 shares of the healthcare product maker’s stock after selling 6,059 shares during the quarter. Shell Asset Management Co.’s holdings in Abbott Laboratories were worth $16,087,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. BlackRock Inc. lifted its position in shares of Abbott Laboratories by 2.7% in the 1st quarter. BlackRock Inc. now owns 128,123,947 shares of the healthcare product maker’s stock worth $10,110,260,000 after acquiring an additional 3,395,345 shares during the period. Capital Research Global Investors lifted its position in shares of Abbott Laboratories by 0.5% in the 4th quarter. Capital Research Global Investors now owns 113,689,293 shares of the healthcare product maker’s stock worth $9,875,052,000 after acquiring an additional 616,255 shares during the period. State Street Corp lifted its position in shares of Abbott Laboratories by 1.3% in the 4th quarter. State Street Corp now owns 73,555,650 shares of the healthcare product maker’s stock worth $6,389,044,000 after acquiring an additional 978,575 shares during the period. Capital International Investors lifted its position in shares of Abbott Laboratories by 2.9% in the 4th quarter. Capital International Investors now owns 47,327,202 shares of the healthcare product maker’s stock worth $4,110,841,000 after acquiring an additional 1,328,056 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Abbott Laboratories by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 25,003,825 shares of the healthcare product maker’s stock worth $2,167,251,000 after acquiring an additional 330,243 shares during the period. Institutional investors own 74.89% of the company’s stock.

A number of analysts have commented on ABT shares. Wells Fargo & Co raised their price objective on Abbott Laboratories from $95.00 to $107.00 and gave the stock an “overweight” rating in a research report on Friday, April 17th. Zacks Investment Research downgraded Abbott Laboratories from a “hold” rating to a “sell” rating and set a $98.00 price objective for the company. in a research report on Wednesday, April 15th. SVB Leerink cut their target price on Abbott Laboratories from $102.00 to $93.00 and set a “market perform” rating for the company in a research report on Wednesday, April 8th. Credit Suisse Group raised their target price on Abbott Laboratories from $95.00 to $106.00 and gave the stock an “outperform” rating in a research report on Friday, April 17th. Finally, Citigroup raised their target price on Abbott Laboratories from $87.00 to $109.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $99.47.

In other news, EVP Andrew H. Lane sold 80,000 shares of Abbott Laboratories stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $92.00, for a total value of $7,360,000.00. Following the completion of the sale, the executive vice president now directly owns 107,090 shares of the company’s stock, valued at approximately $9,852,280. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jared Watkin sold 8,248 shares of Abbott Laboratories stock in a transaction on Friday, March 6th. The shares were sold at an average price of $82.00, for a total value of $676,336.00. Following the completion of the sale, the senior vice president now directly owns 68,696 shares of the company’s stock, valued at $5,633,072. The disclosure for this sale can be found here. Insiders sold a total of 166,186 shares of company stock valued at $15,359,524 over the last three months. Insiders own 1.70% of the company’s stock.

ABT stock traded up $0.47 during midday trading on Friday, reaching $90.86. 2,494,108 shares of the company’s stock traded hands, compared to its average volume of 7,722,559. The company has a 50-day simple moving average of $89.78 and a two-hundred day simple moving average of $85.71. Abbott Laboratories has a 1-year low of $61.61 and a 1-year high of $100.00. The company has a market cap of $159.36 billion, a price-to-earnings ratio of 45.30, a PEG ratio of 3.74 and a beta of 0.98. The company has a quick ratio of 1.01, a current ratio of 1.43 and a debt-to-equity ratio of 0.55.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Thursday, April 16th. The healthcare product maker reported $0.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.07. Abbott Laboratories had a return on equity of 18.61% and a net margin of 11.15%. The firm had revenue of $7.73 billion during the quarter, compared to analysts’ expectations of $7.47 billion. During the same period last year, the firm posted $0.63 EPS. The business’s revenue was up 2.5% on a year-over-year basis. Equities research analysts forecast that Abbott Laboratories will post 2.81 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 8th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.35%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 44.44%.

About Abbott Laboratories

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 symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

Featured Article: How do buyers and sellers choose a strike price?

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

Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit