Parthenon LLC Cuts Stock Holdings in Abbott Laboratories (NYSE:ABT)

Parthenon LLC lowered its position in Abbott Laboratories (NYSE:ABT) by 1.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,563 shares of the healthcare product maker’s stock after selling 500 shares during the period. Parthenon LLC’s holdings in Abbott Laboratories were worth $3,570,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in ABT. Welch Group LLC lifted its position in shares of Abbott Laboratories by 5.3% during the 4th quarter. Welch Group LLC now owns 68,653 shares of the healthcare product maker’s stock worth $7,744,000 after buying an additional 3,479 shares in the last quarter. Bath Savings Trust Co lifted its holdings in Abbott Laboratories by 3.7% during the fourth quarter. Bath Savings Trust Co now owns 166,132 shares of the healthcare product maker’s stock worth $18,791,000 after acquiring an additional 5,881 shares during the period. Bank Pictet & Cie Europe AG boosted its position in Abbott Laboratories by 1.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker’s stock worth $17,274,000 after purchasing an additional 2,774 shares during the last quarter. Simplify Asset Management Inc. grew its stake in Abbott Laboratories by 67.3% in the 3rd quarter. Simplify Asset Management Inc. now owns 14,083 shares of the healthcare product maker’s stock valued at $1,606,000 after purchasing an additional 5,664 shares during the period. Finally, Pensionfund Sabic purchased a new stake in shares of Abbott Laboratories during the 4th quarter valued at $2,828,000. 75.18% of the stock is owned by institutional investors.

Insider Transactions at Abbott Laboratories

In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of Abbott Laboratories stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $128.50, for a total value of $3,054,573.50. Following the transaction, the executive vice president now owns 125,697 shares in the company, valued at approximately $16,152,064.50. The trade was a 15.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.47% of the company’s stock.

Abbott Laboratories Trading Up 1.5 %

Abbott Laboratories stock opened at $132.18 on Thursday. The stock has a market cap of $229.26 billion, a P/E ratio of 17.28, a PEG ratio of 2.44 and a beta of 0.75. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $132.65. The firm’s fifty day moving average price is $119.93 and its 200-day moving average price is $116.53. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.34. The firm had revenue of $10.97 billion during 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 company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the company posted $1.19 EPS. Equities research analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Wednesday, January 15th were given a $0.59 dividend. The ex-dividend date was Wednesday, January 15th. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a yield of 1.79%. Abbott Laboratories’s payout ratio is 30.85%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Argus upgraded shares of Abbott Laboratories to a “strong-buy” rating in a research report on Tuesday, January 28th. Wells Fargo & Company increased their target price on shares of Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Barclays reaffirmed an “overweight” rating and issued a $158.00 price target (up previously from $149.00) on shares of Abbott Laboratories in a report on Monday, January 27th. Stifel Nicolaus increased their price objective on Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Finally, UBS Group boosted their target price on Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus target price of $133.06.

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.