Montag & Caldwell LLC Has $13.06 Million Stake in Abbott Laboratories (NYSE:ABT)

Montag & Caldwell LLC lessened its holdings in shares of Abbott Laboratories (NYSE:ABT) by 8.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 115,469 shares of the healthcare product maker’s stock after selling 10,464 shares during the quarter. Abbott Laboratories accounts for approximately 2.8% of Montag & Caldwell LLC’s portfolio, making the stock its 16th largest position. Montag & Caldwell LLC’s holdings in Abbott Laboratories were worth $13,061,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ABT. Morse Asset Management Inc bought a new position in shares of Abbott Laboratories in the third quarter valued at approximately $380,000. Tudor Financial Inc. bought a new stake in shares of Abbott Laboratories in the 3rd quarter worth $302,000. Anchor Investment Management LLC raised its holdings in shares of Abbott Laboratories by 2.9% in the third quarter. Anchor Investment Management LLC now owns 54,237 shares of the healthcare product maker’s stock valued at $6,184,000 after purchasing an additional 1,509 shares during the last quarter. Fulcrum Equity Management bought a new position in shares of Abbott Laboratories during the third quarter valued at about $239,000. Finally, Wilmington Savings Fund Society FSB boosted its holdings in Abbott Laboratories by 32.6% during the third quarter. Wilmington Savings Fund Society FSB now owns 332,189 shares of the healthcare product maker’s stock worth $37,873,000 after purchasing an additional 81,669 shares during the last quarter. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Price Performance

ABT stock opened at $127.78 on Tuesday. The firm has a 50 day moving average of $130.67 and a 200-day moving average of $121.51. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $221.61 billion, a P/E ratio of 16.70, a price-to-earnings-growth ratio of 2.52 and a beta of 0.80. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $141.23.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.34. The company had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $11.03 billion. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.19 earnings per share. As a group, sell-side analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, April 15th. This represents a $2.36 annualized dividend and a yield of 1.85%. Abbott Laboratories’s payout ratio is presently 30.85%.

Insider Transactions at Abbott Laboratories

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the transaction, the executive vice president now directly owns 125,697 shares of the company’s stock, valued at approximately $16,152,064.50. This trade represents a 15.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Lisa D. Earnhardt sold 91,167 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $133.82, for a total value of $12,199,967.94. Following the completion of the sale, the executive vice president now directly owns 71,928 shares of the company’s stock, valued at approximately $9,625,404.96. This represents a 55.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 116,449 shares of company stock valued at $15,463,316 in the last quarter. Insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

ABT has been the topic of several recent analyst reports. Argus raised shares of Abbott Laboratories to a “strong-buy” rating in a research report on Tuesday, January 28th. Evercore ISI boosted their price objective on Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. Wells Fargo & Company upped their price objective on Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Citigroup boosted their price target on shares of Abbott Laboratories from $135.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Finally, StockNews.com lowered shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and an average price target of $137.94.

About Abbott Laboratories

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.