Factory Mutual Insurance Co. Decreases Holdings in Abbott Laboratories (NYSE:ABT)

Factory Mutual Insurance Co. reduced its stake in Abbott Laboratories (NYSE:ABTFree Report) by 3.2% during the first quarter, according to its most recent filing with the SEC. The fund owned 204,800 shares of the healthcare product maker’s stock after selling 6,800 shares during the quarter. Factory Mutual Insurance Co.’s holdings in Abbott Laboratories were worth $23,278,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Alliance Wealth Advisors LLC UT raised its holdings in shares of Abbott Laboratories by 0.4% in the 4th quarter. Alliance Wealth Advisors LLC UT now owns 25,085 shares of the healthcare product maker’s stock worth $2,761,000 after purchasing an additional 92 shares during the period. Rappaport Reiches Capital Management LLC raised its stake in shares of Abbott Laboratories by 0.8% in the fourth quarter. Rappaport Reiches Capital Management LLC now owns 12,287 shares of the healthcare product maker’s stock valued at $1,352,000 after buying an additional 94 shares during the period. Avion Wealth lifted its position in shares of Abbott Laboratories by 19.4% during the 4th quarter. Avion Wealth now owns 591 shares of the healthcare product maker’s stock valued at $65,000 after buying an additional 96 shares during the last quarter. Wynn Capital LLC grew its stake in shares of Abbott Laboratories by 2.9% during the 1st quarter. Wynn Capital LLC now owns 3,427 shares of the healthcare product maker’s stock worth $390,000 after acquiring an additional 98 shares during the period. Finally, Berger Financial Group Inc increased its holdings in Abbott Laboratories by 3.0% in the 4th quarter. Berger Financial Group Inc now owns 3,423 shares of the healthcare product maker’s stock worth $377,000 after acquiring an additional 99 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ABT shares. Barclays cut their target price on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a research report on Monday, April 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $125.00 price objective on shares of Abbott Laboratories in a report on Tuesday, June 4th. The Goldman Sachs Group began coverage on shares of Abbott Laboratories in a report on Thursday, May 30th. They set a “buy” rating and a $121.00 target price on the stock. Citigroup cut their price target on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Finally, Evercore ISI increased their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $120.64.

Read Our Latest Analysis on ABT

Insider Transactions at Abbott Laboratories

In related news, EVP Jr. Robert E. Funck sold 10,097 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $104.57, for a total value of $1,055,843.29. Following the completion of the sale, the executive vice president now owns 211,341 shares in the company, valued at approximately $22,099,928.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Lisa D. Earnhardt sold 22,852 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total value of $2,428,025.00. Following the completion of the sale, the executive vice president now owns 61,462 shares of the company’s stock, valued at approximately $6,530,337.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Jr. Robert E. Funck sold 10,097 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $104.57, for a total value of $1,055,843.29. Following the transaction, the executive vice president now owns 211,341 shares in the company, valued at $22,099,928.37. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.

Abbott Laboratories Price Performance

Shares of ABT traded up $0.22 during trading hours on Tuesday, reaching $105.52. 2,267,761 shares of the company’s stock traded hands, compared to its average volume of 5,681,459. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.32. The firm’s 50 day simple moving average is $104.97 and its 200-day simple moving average is $110.16. The stock has a market cap of $183.57 billion, a PE ratio of 32.80, a price-to-earnings-growth ratio of 2.54 and a beta of 0.74. Abbott Laboratories has a 12 month low of $89.67 and a 12 month high of $121.64.

Abbott Laboratories (NYSE:ABTGet Free Report) last released its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. The business had revenue of $9.96 billion during the quarter, compared to analysts’ expectations of $9.88 billion. During the same quarter in the previous year, the company earned $1.03 EPS. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. Equities analysts expect that Abbott Laboratories will post 4.62 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.08%. The ex-dividend date is Monday, July 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 68.54%.

Abbott Laboratories Company Profile

(Free Report)

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.

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

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