Abbott Laboratories (ABT) Stake Decreased by Primecap Management Co. CA

Primecap Management Co. CA lessened its position in shares of Abbott Laboratories (NYSE:ABT) by 2.1% in the third quarter, HoldingsChannel.com reports. The fund owned 14,102,210 shares of the healthcare product maker’s stock after selling 309,380 shares during the period. Primecap Management Co. CA’s holdings in Abbott Laboratories were worth $1,034,538,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. BlackRock Inc. lifted its stake in Abbott Laboratories by 0.9% in the 3rd quarter. BlackRock Inc. now owns 117,203,489 shares of the healthcare product maker’s stock valued at $8,598,048,000 after purchasing an additional 1,053,749 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Abbott Laboratories by 102,159.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 27,234,758 shares of the healthcare product maker’s stock valued at $1,997,943,000 after purchasing an additional 27,208,125 shares during the last quarter. Morgan Stanley lifted its stake in Abbott Laboratories by 33.1% in the 2nd quarter. Morgan Stanley now owns 21,218,276 shares of the healthcare product maker’s stock valued at $1,294,103,000 after purchasing an additional 5,274,307 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Abbott Laboratories by 12.0% in the 2nd quarter. Janus Henderson Group PLC now owns 13,708,172 shares of the healthcare product maker’s stock valued at $836,067,000 after purchasing an additional 1,468,430 shares during the last quarter. Finally, FMR LLC lifted its stake in Abbott Laboratories by 9.0% in the 3rd quarter. FMR LLC now owns 10,890,867 shares of the healthcare product maker’s stock valued at $798,955,000 after purchasing an additional 896,087 shares during the last quarter. 72.83% of the stock is owned by institutional investors.

In other news, Chairman Miles D. White sold 142,341 shares of the stock in a transaction on Wednesday, November 28th. The shares were sold at an average price of $72.35, for a total transaction of $10,298,371.35. Following the completion of the sale, the chairman now directly owns 3,459,185 shares in the company, valued at $250,272,034.75. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Sharon J. Bracken sold 1,732 shares of the stock in a transaction on Friday, September 28th. The stock was sold at an average price of $73.35, for a total transaction of $127,042.20. Following the sale, the senior vice president now owns 39,229 shares of the company’s stock, valued at $2,877,447.15. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 272,273 shares of company stock valued at $19,410,942. 0.74% of the stock is currently owned by corporate insiders.

ABT opened at $69.95 on Friday. Abbott Laboratories has a twelve month low of $54.33 and a twelve month high of $74.92. The company has a quick ratio of 1.13, a current ratio of 1.42 and a debt-to-equity ratio of 0.62. The firm has a market cap of $125.65 billion, a PE ratio of 25.46, a PEG ratio of 2.13 and a beta of 1.40.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 17th. The healthcare product maker reported $0.75 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.75. Abbott Laboratories had a net margin of 2.91% and a return on equity of 16.05%. The company had revenue of $7.66 billion during the quarter, compared to analysts’ expectations of $7.65 billion. During the same period in the prior year, the company posted $0.66 earnings per share. Abbott Laboratories’s revenue for the quarter was up 12.1% compared to the same quarter last year. As a group, research analysts anticipate that Abbott Laboratories will post 2.89 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Monday, October 15th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.60%. The ex-dividend date was Friday, October 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.80%.

ABT has been the subject of several analyst reports. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $77.00 price target for the company in a research note on Tuesday, September 18th. Barclays initiated coverage on shares of Abbott Laboratories in a research note on Monday, October 15th. They set an “overweight” rating and a $80.00 price target for the company. Morgan Stanley raised their price target on shares of Abbott Laboratories from $80.00 to $82.00 and gave the company an “overweight” rating in a research note on Tuesday. JPMorgan Chase & Co. raised their price target on shares of Abbott Laboratories from $77.00 to $81.00 and gave the company an “overweight” rating in a research note on Monday, October 8th. Finally, Royal Bank of Canada raised their price target on shares of Abbott Laboratories to $77.00 and gave the company an “outperform” rating in a research note on Thursday, October 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $76.00.

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Abbott Laboratories Profile

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine 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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