Fayez Sarofim & Co. Decreases Position in Abbott Laboratories (ABT)

Fayez Sarofim & Co. decreased its position in shares of Abbott Laboratories (NYSE:ABT) by 1.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,315,515 shares of the healthcare product maker’s stock after selling 63,522 shares during the period. Abbott Laboratories comprises 1.2% of Fayez Sarofim & Co.’s investment portfolio, making the stock its 28th biggest position. Fayez Sarofim & Co. owned approximately 0.25% of Abbott Laboratories worth $230,275,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ABT. Gratus Capital LLC raised its position in Abbott Laboratories by 0.9% in the 2nd quarter. Gratus Capital LLC now owns 205,067 shares of the healthcare product maker’s stock valued at $9,968,000 after purchasing an additional 1,869 shares in the last quarter. Vantage Investment Advisors LLC raised its position in Abbott Laboratories by 103.4% in the 2nd quarter. Vantage Investment Advisors LLC now owns 72,161 shares of the healthcare product maker’s stock valued at $3,508,000 after purchasing an additional 36,683 shares in the last quarter. Zurich Insurance Group Ltd FI raised its position in Abbott Laboratories by 2.5% in the 2nd quarter. Zurich Insurance Group Ltd FI now owns 240,866 shares of the healthcare product maker’s stock valued at $11,708,000 after purchasing an additional 5,790 shares in the last quarter. Amalgamated Bank raised its position in Abbott Laboratories by 57.6% in the 2nd quarter. Amalgamated Bank now owns 191,206 shares of the healthcare product maker’s stock valued at $9,295,000 after purchasing an additional 69,871 shares in the last quarter. Finally, RKL Wealth Management LLC acquired a new stake in Abbott Laboratories in the 3rd quarter valued at about $227,000. 71.19% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have issued reports on ABT. Zacks Investment Research raised Abbott Laboratories from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research report on Friday, September 22nd. Barclays increased their price target on Abbott Laboratories from $57.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, September 28th. Jefferies Group reaffirmed a “buy” rating and issued a $65.00 price target on shares of Abbott Laboratories in a research report on Thursday, October 19th. JPMorgan Chase & Co. assumed coverage on Abbott Laboratories in a report on Friday, October 6th. They issued a “neutral” rating and a $60.00 price objective on the stock. Finally, Morgan Stanley upgraded Abbott Laboratories from an “equal weight” rating to an “overweight” rating and set a $67.00 price objective on the stock in a report on Tuesday, January 2nd. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $60.24.

Abbott Laboratories (NYSE ABT) opened at $58.84 on Tuesday. The company has a market capitalization of $102,416.96, a PE ratio of 46.33, a PEG ratio of 1.87 and a beta of 1.06. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.69 and a quick ratio of 2.26. Abbott Laboratories has a 1-year low of $39.25 and a 1-year high of $59.60.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. The firm had revenue of $6.83 billion for the quarter, compared to the consensus estimate of $6.72 billion. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. The firm’s quarterly revenue was up 28.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.59 EPS. sell-side analysts forecast that Abbott Laboratories will post 2.5 earnings per share for the current 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 paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Thursday, January 11th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.27. Abbott Laboratories’s dividend payout ratio (DPR) is currently 88.19%.

In related news, Chairman Miles D. White sold 276,886 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $54.41, for a total transaction of $15,065,367.26. Following the transaction, the chairman now owns 3,677,913 shares in the company, valued at approximately $200,115,246.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel Gesua Sive Salvadori sold 28,319 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $54.92, for a total value of $1,555,279.48. Following the transaction, the insider now owns 102,117 shares in the company, valued at approximately $5,608,265.64. The disclosure for this sale can be found here. Insiders have sold a total of 501,172 shares of company stock worth $27,533,150 in the last 90 days. 0.76% of the stock is currently owned by company insiders.

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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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