Abbott Laboratories (ABT) Position Cut by Dorsey & Whitney Trust CO LLC

Dorsey & Whitney Trust CO LLC cut its position in shares of Abbott Laboratories (NYSE:ABT) by 1.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 151,310 shares of the healthcare product maker’s stock after selling 1,797 shares during the period. Abbott Laboratories accounts for 1.7% of Dorsey & Whitney Trust CO LLC’s holdings, making the stock its 11th biggest position. Dorsey & Whitney Trust CO LLC’s holdings in Abbott Laboratories were worth $9,067,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in Abbott Laboratories by 3.3% during the fourth quarter. BlackRock Inc. now owns 110,201,384 shares of the healthcare product maker’s stock worth $6,289,191,000 after buying an additional 3,566,731 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Abbott Laboratories by 4.6% during the fourth quarter. Geode Capital Management LLC now owns 18,056,361 shares of the healthcare product maker’s stock valued at $1,028,274,000 after purchasing an additional 794,027 shares in the last quarter. Legal & General Group Plc lifted its holdings in Abbott Laboratories by 1.0% during the third quarter. Legal & General Group Plc now owns 8,741,837 shares of the healthcare product maker’s stock valued at $466,468,000 after purchasing an additional 88,076 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in Abbott Laboratories by 6.1% during the third quarter. Janus Henderson Group PLC now owns 8,353,252 shares of the healthcare product maker’s stock valued at $445,731,000 after purchasing an additional 478,779 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in Abbott Laboratories by 4.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 7,327,489 shares of the healthcare product maker’s stock valued at $439,064,000 after purchasing an additional 335,665 shares in the last quarter. 71.71% of the stock is currently owned by hedge funds and other institutional investors.

In related news, SVP Sharon J. Bracken sold 2,150 shares of the firm’s stock in a transaction dated Friday, May 4th. The shares were sold at an average price of $58.56, for a total transaction of $125,904.00. Following the completion of the sale, the senior vice president now directly owns 43,990 shares in the company, valued at $2,576,054.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Stephen R. Fussell sold 56,401 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $59.61, for a total transaction of $3,362,063.61. Following the sale, the insider now owns 184,884 shares of the company’s stock, valued at $11,020,935.24. The disclosure for this sale can be found here. Insiders sold 86,214 shares of company stock valued at $5,173,042 over the last quarter. Company insiders own 0.74% of the company’s stock.

Several research firms have issued reports on ABT. Citigroup decreased their price objective on shares of Abbott Laboratories from $66.00 to $65.00 and set a “neutral” rating on the stock in a report on Tuesday, April 24th. BTIG Research reaffirmed a “hold” rating on shares of Abbott Laboratories in a report on Sunday, April 22nd. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a report on Friday, April 20th. ValuEngine raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, Argus increased their price objective on shares of Abbott Laboratories from $66.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, January 30th. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $68.35.

Shares of Abbott Laboratories opened at $61.71 on Friday, according to Marketbeat. The stock has a market capitalization of $108.19 billion, a PE ratio of 24.68, a price-to-earnings-growth ratio of 1.77 and a beta of 1.50. The company has a quick ratio of 1.24, a current ratio of 1.66 and a debt-to-equity ratio of 0.67. Abbott Laboratories has a 52 week low of $43.01 and a 52 week high of $64.60.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, April 18th. The healthcare product maker reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.01. The business had revenue of $7.39 billion during the quarter, compared to analysts’ expectations of $7.28 billion. Abbott Laboratories had a net margin of 1.67% and a return on equity of 14.54%. The company’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.48 earnings per share. equities research analysts predict that Abbott Laboratories will post 2.86 EPS for the current fiscal year.

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 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.

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

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