Lord Abbett & CO. LLC Has $130.50 Million Stake in Abbott Laboratories (NYSE:ABT)


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Lord Abbett & CO. LLC boosted its position in shares of Abbott Laboratories (NYSE:ABT) by 2.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,191,843 shares of the healthcare product maker’s stock after purchasing an additional 25,852 shares during the period. Lord Abbett & CO. LLC’s holdings in Abbott Laboratories were worth $130,495,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Axiom Financial Strategies LLC boosted its stake in shares of Abbott Laboratories by 4.4% in the 4th quarter. Axiom Financial Strategies LLC now owns 2,027 shares of the healthcare product maker’s stock valued at $222,000 after purchasing an additional 86 shares in the last quarter. Ocean Capital Management LLC boosted its stake in shares of Abbott Laboratories by 2.4% in the 4th quarter. Ocean Capital Management LLC now owns 3,783 shares of the healthcare product maker’s stock valued at $414,000 after purchasing an additional 87 shares in the last quarter. Aspen Investment Management Inc boosted its stake in shares of Abbott Laboratories by 0.8% in the 4th quarter. Aspen Investment Management Inc now owns 11,080 shares of the healthcare product maker’s stock valued at $1,213,000 after purchasing an additional 90 shares in the last quarter. Leelyn Smith LLC boosted its stake in shares of Abbott Laboratories by 12.7% in the 4th quarter. Leelyn Smith LLC now owns 806 shares of the healthcare product maker’s stock valued at $88,000 after purchasing an additional 91 shares in the last quarter. Finally, Wade G W & Inc. boosted its stake in shares of Abbott Laboratories by 0.7% in the 3rd quarter. Wade G W & Inc. now owns 13,553 shares of the healthcare product maker’s stock valued at $1,475,000 after purchasing an additional 92 shares in the last quarter. Institutional investors own 72.58% of the company’s stock.

In other news, SVP Joseph J. Manning sold 18,750 shares of the company’s stock in a transaction dated Monday, February 1st. The stock was sold at an average price of $122.79, for a total transaction of $2,302,312.50. Following the sale, the senior vice president now directly owns 81,561 shares in the company, valued at $10,014,875.19. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Mary K. Moreland sold 505 shares of the company’s stock in a transaction dated Tuesday, February 16th. The shares were sold at an average price of $128.49, for a total value of $64,887.45. Following the sale, the executive vice president now owns 63,878 shares in the company, valued at $8,207,684.22. The disclosure for this sale can be found here. Insiders sold a total of 24,045 shares of company stock worth $2,881,071 over the last 90 days. 1.70% of the stock is currently owned by company insiders.

Shares of NYSE ABT traded down $0.65 during mid-day trading on Tuesday, reaching $121.90. 63,180 shares of the company’s stock were exchanged, compared to its average volume of 5,381,432. The firm has a market capitalization of $216.05 billion, a price-to-earnings ratio of 64.84, a price-to-earnings-growth ratio of 2.06 and a beta of 0.83. Abbott Laboratories has a 52 week low of $61.61 and a 52 week high of $128.54. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.70 and a quick ratio of 1.19. The firm has a 50-day moving average price of $118.10 and a two-hundred day moving average price of $109.83.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Tuesday, January 26th. The healthcare product maker reported $1.45 EPS for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.10. The company had revenue of $10.70 billion for the quarter, compared to analysts’ expectations of $9.94 billion. Abbott Laboratories had a return on equity of 18.19% and a net margin of 10.50%. The business’s revenue for the quarter was up 28.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.95 EPS. As a group, sell-side analysts forecast that Abbott Laboratories will post 3.57 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 17th. Investors of record on Thursday, April 15th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Wednesday, April 14th. Abbott Laboratories’s dividend payout ratio is currently 55.56%.

A number of research analysts recently issued reports on the stock. Credit Suisse Group raised their price objective on shares of Abbott Laboratories from $118.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday, January 28th. Wells Fargo & Company raised their price objective on shares of Abbott Laboratories from $128.00 to $137.00 in a report on Thursday, January 28th. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $130.00 price target for the company in a report on Tuesday, February 2nd. Cowen raised their price target on shares of Abbott Laboratories from $113.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, January 28th. Finally, Morgan Stanley raised their price target on shares of Abbott Laboratories from $126.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, January 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and sixteen have issued a buy rating to the stock. Abbott Laboratories currently has an average rating of “Buy” and a consensus target price of $122.26.

Abbott Laboratories Profile

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. Its Established Pharmaceutical Products segment offers generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

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

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