Abbott Laboratories (NYSE:ABT) Position Trimmed by HM Payson & Co.

HM Payson & Co. reduced its holdings in Abbott Laboratories (NYSE:ABT) by 1.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 796,550 shares of the healthcare product maker’s stock after selling 10,986 shares during the period. Abbott Laboratories comprises about 1.7% of HM Payson & Co.’s holdings, making the stock its 16th largest holding. HM Payson & Co.’s holdings in Abbott Laboratories were worth $38,721,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Villere ST Denis J & Co. LLC lifted its stake in Abbott Laboratories by 2.3% in the 2nd quarter. Villere ST Denis J & Co. LLC now owns 268,200 shares of the healthcare product maker’s stock worth $13,037,000 after acquiring an additional 5,950 shares in the last quarter. Private Bank & Trust Co. increased its position in Abbott Laboratories by 12.3% in the 2nd quarter. Private Bank & Trust Co. now owns 30,322 shares of the healthcare product maker’s stock worth $1,473,000 after purchasing an additional 3,330 shares during the last quarter. Comerica Securities Inc. acquired a new position in Abbott Laboratories in the 1st quarter worth about $2,833,000. AQR Capital Management LLC increased its position in Abbott Laboratories by 264.8% in the 1st quarter. AQR Capital Management LLC now owns 634,391 shares of the healthcare product maker’s stock worth $28,173,000 after purchasing an additional 460,477 shares during the last quarter. Finally, Century Capital Management LLC acquired a new position in Abbott Laboratories in the 1st quarter worth about $4,332,000. 70.64% of the stock is owned by hedge funds and other institutional investors.

Shares of Abbott Laboratories (NYSE:ABT) opened at $54.70 on Monday. The stock has a market capitalization of $95,384.93, a P/E ratio of 22.74, a price-to-earnings-growth ratio of 2.05 and a beta of 1.06. The company has a quick ratio of 2.26, a current ratio of 2.69 and a debt-to-equity ratio of 0.72. Abbott Laboratories has a fifty-two week low of $37.38 and a fifty-two week high of $56.69.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.01. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. The firm had revenue of $6.83 billion for the quarter, compared to analyst estimates of $6.72 billion. During the same quarter last year, the firm posted $0.59 EPS. The company’s revenue was up 28.8% on a year-over-year basis. equities research analysts forecast that Abbott Laboratories will post 2.5 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th will be given a $0.265 dividend. The ex-dividend date is Thursday, October 12th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.94%. Abbott Laboratories’s dividend payout ratio is currently 83.47%.

In other Abbott Laboratories news, insider Jaime Contreras sold 52,700 shares of the firm’s stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $51.97, for a total value of $2,738,819.00. Following the completion of the sale, the insider now owns 58,739 shares in the company, valued at approximately $3,052,665.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of the firm’s stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $56.21, for a total value of $5,430,054.63. Following the completion of the sale, the executive vice president now owns 142,082 shares of the company’s stock, valued at approximately $7,986,429.22. The disclosure for this sale can be found here. Insiders sold a total of 408,313 shares of company stock valued at $21,205,356 in the last quarter. Corporate insiders own 0.76% of the company’s stock.

Several research analysts have weighed in on the company. Zacks Investment Research raised Abbott Laboratories from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research report on Tuesday, October 31st. Barclays PLC reaffirmed an “overweight” rating on shares of Abbott Laboratories in a research report on Thursday, October 19th. Citigroup Inc. reaffirmed a “neutral” rating on shares of Abbott Laboratories in a research report on Thursday, October 19th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Abbott Laboratories in a research report on Thursday, October 19th. Finally, Cowen and Company set a $68.00 target price on Abbott Laboratories and gave the stock a “buy” rating in a research report on Thursday, October 19th. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $56.81.

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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.

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

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