Newfound Research LLC Cuts Stake in Abbott Laboratories (NYSE:ABT)


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Newfound Research LLC lessened its stake in Abbott Laboratories (NYSE:ABT) by 39.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 665 shares of the healthcare product maker’s stock after selling 425 shares during the period. Newfound Research LLC’s holdings in Abbott Laboratories were worth $80,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Creative Financial Designs Inc. ADV raised its holdings in Abbott Laboratories by 6.1% during the first quarter. Creative Financial Designs Inc. ADV now owns 1,411 shares of the healthcare product maker’s stock worth $169,000 after purchasing an additional 81 shares during the last quarter. Cribstone Capital Management LLC increased its position in Abbott Laboratories by 1.2% during the fourth quarter. Cribstone Capital Management LLC now owns 6,796 shares of the healthcare product maker’s stock worth $744,000 after buying an additional 83 shares in the last quarter. Axiom Financial Strategies LLC increased its position in Abbott Laboratories by 4.4% during the fourth quarter. Axiom Financial Strategies LLC now owns 2,027 shares of the healthcare product maker’s stock worth $222,000 after buying an additional 86 shares in the last quarter. Ocean Capital Management LLC increased its position in Abbott Laboratories by 2.4% during the fourth quarter. Ocean Capital Management LLC now owns 3,783 shares of the healthcare product maker’s stock worth $414,000 after buying an additional 87 shares in the last quarter. Finally, Cohen Lawrence B increased its position in Abbott Laboratories by 1.2% during the fourth quarter. Cohen Lawrence B now owns 7,608 shares of the healthcare product maker’s stock worth $833,000 after buying an additional 89 shares in the last quarter. Institutional investors own 72.58% of the company’s stock.

In related news, EVP Mary K. Moreland sold 400 shares of the stock in a transaction that occurred on Monday, February 22nd. The stock was sold at an average price of $121.84, for a total value of $48,736.00. Following the completion of the transaction, the executive vice president now directly owns 76,886 shares of the company’s stock, valued at approximately $9,367,790.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michelle Kumbier acquired 2,040 shares of the firm’s stock in a transaction that occurred on Tuesday, February 23rd. The stock was acquired at an average cost of $122.50 per share, with a total value of $249,900.00. The disclosure for this purchase can be found here. Over the last three months, insiders sold 8,726 shares of company stock valued at $1,064,230. 1.70% of the stock is owned by corporate insiders.

A number of equities research analysts have recently commented on the company. BTIG Research raised Abbott Laboratories from a “neutral” rating to a “buy” rating and set a $140.00 price objective for the company in a research report on Thursday, January 28th. Atlantic Securities assumed coverage on Abbott Laboratories in a research report on Wednesday, April 21st. They set a “neutral” rating and a $122.00 price target for the company. Raymond James boosted their price target on Abbott Laboratories from $126.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, March 17th. Wells Fargo & Company boosted their price target on Abbott Laboratories from $128.00 to $137.00 in a research report on Thursday, January 28th. Finally, William Blair restated an “outperform” rating on shares of Abbott Laboratories in a research note on Tuesday, April 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $126.06.

Abbott Laboratories stock traded down $1.51 during midday trading on Tuesday, hitting $118.02. The stock had a trading volume of 98,678 shares, compared to its average volume of 5,216,047. The company has a current ratio of 1.70, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The stock has a market cap of $209.08 billion, a P/E ratio of 63.24, a P/E/G ratio of 2.06 and a beta of 0.83. Abbott Laboratories has a 12 month low of $86.16 and a 12 month high of $128.54. The business has a fifty day moving average price of $120.90 and a 200 day moving average price of $115.19.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Monday, April 19th. The healthcare product maker reported $1.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.05. The firm had revenue of $10.45 billion during the quarter, compared to analyst estimates of $10.72 billion. Abbott Laboratories had a return on equity of 18.19% and a net margin of 10.50%. Abbott Laboratories’s quarterly revenue was up 35.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.65 earnings per share. On average, equities analysts anticipate 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 issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.53%. The ex-dividend date is Wednesday, April 14th. Abbott Laboratories’s dividend payout ratio is currently 55.56%.

Abbott Laboratories Profile

Abbott Laboratories 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 Established Pharmaceutical Products segment 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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