United Capital Financial Advisers LLC Reduces Stake in Abbott Laboratories (NYSE:ABT)

United Capital Financial Advisers LLC decreased its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 544,463 shares of the healthcare product maker’s stock after selling 9,173 shares during the period. United Capital Financial Advisers LLC’s holdings in Abbott Laboratories were worth $63,120,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in ABT. Price T Rowe Associates Inc. MD increased its position in Abbott Laboratories by 160.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,401,508 shares of the healthcare product maker’s stock worth $1,246,517,000 after buying an additional 6,413,312 shares in the last quarter. Flossbach Von Storch AG increased its position in Abbott Laboratories by 34.3% during the second quarter. Flossbach Von Storch AG now owns 6,264,572 shares of the healthcare product maker’s stock worth $726,252,000 after buying an additional 1,600,139 shares in the last quarter. Jennison Associates LLC increased its position in Abbott Laboratories by 1,221.0% during the second quarter. Jennison Associates LLC now owns 1,506,437 shares of the healthcare product maker’s stock worth $174,641,000 after buying an additional 1,392,401 shares in the last quarter. Steadfast Capital Management LP purchased a new position in Abbott Laboratories during the first quarter worth $158,654,000. Finally, Vanguard Group Inc. increased its position in Abbott Laboratories by 0.9% during the second quarter. Vanguard Group Inc. now owns 147,844,584 shares of the healthcare product maker’s stock worth $17,139,623,000 after buying an additional 1,276,670 shares in the last quarter. 72.05% of the stock is owned by institutional investors.

ABT has been the topic of several analyst reports. Zacks Investment Research upgraded Abbott Laboratories from a “strong sell” rating to a “hold” rating and set a $127.00 price objective on the stock in a report on Tuesday, August 3rd. Redburn Partners initiated coverage on Abbott Laboratories in a report on Thursday. They set a “neutral” rating and a $132.28 price objective on the stock. Credit Suisse Group raised their price objective on Abbott Laboratories from $120.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, July 23rd. SVB Leerink lifted their target price on Abbott Laboratories from $115.00 to $128.00 and gave the company a “market perform” rating in a report on Tuesday, July 20th. Finally, BTIG Research lifted their target price on Abbott Laboratories from $126.00 to $136.00 and gave the company a “buy” rating in a report on Tuesday, August 31st. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $130.52.

In other news, EVP Andrea F. Wainer sold 14,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 17th. The stock was sold at an average price of $125.00, for a total transaction of $1,812,500.00. Following the completion of the transaction, the executive vice president now directly owns 54,282 shares of the company’s stock, valued at $6,785,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Randel William Woodgrift sold 6,350 shares of the company’s stock in a transaction that occurred on Friday, September 3rd. The shares were sold at an average price of $129.00, for a total value of $819,150.00. Following the transaction, the senior vice president now directly owns 50,093 shares of the company’s stock, valued at $6,461,997. The disclosure for this sale can be found here. Over the last three months, insiders sold 222,883 shares of company stock valued at $27,964,400. 1.50% of the stock is owned by corporate insiders.

Shares of NYSE ABT traded up $0.38 during midday trading on Thursday, reaching $117.38. 168,460 shares of the company’s stock were exchanged, compared to its average volume of 5,370,625. Abbott Laboratories has a 52-week low of $103.13 and a 52-week high of $129.70. The stock has a market capitalization of $208.09 billion, a PE ratio of 32.96, a price-to-earnings-growth ratio of 2.45 and a beta of 0.66. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.36 and a current ratio of 1.79. The business’s fifty day moving average price is $123.59 and its two-hundred day moving average price is $119.60.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, July 21st. The healthcare product maker reported $1.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.15. The business had revenue of $10.22 billion for the quarter, compared to analyst estimates of $9.67 billion. Abbott Laboratories had a return on equity of 26.75% and a net margin of 15.85%. The company’s revenue for the quarter was up 41.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.57 earnings per share. Analysts predict that Abbott Laboratories will post 4.42 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 15th. Investors of record on Friday, October 15th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.53%. The ex-dividend date is Thursday, October 14th. Abbott Laboratories’s dividend payout ratio is currently 49.32%.

Abbott Laboratories Company Profile

Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following segments: Established Pharmaceutical Products, Nutritional Products, Diagnostic Products, and Medical Devices. The Established Pharmaceutical Products segment refers to the international sales of a line of branded generic pharmaceutical products.

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

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