Abbott Laboratories (NYSE:ABT) Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund lessened its holdings in shares of Abbott Laboratories (NYSE:ABT) by 6.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,830 shares of the healthcare product maker’s stock after selling 2,657 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Abbott Laboratories were worth $4,300,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Abbott Laboratories by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 156,467,081 shares of the healthcare product maker’s stock worth $17,222,332,000 after purchasing an additional 701,740 shares during the last quarter. Perigon Wealth Management LLC boosted its position in shares of Abbott Laboratories by 5.2% in the 4th quarter. Perigon Wealth Management LLC now owns 47,080 shares of the healthcare product maker’s stock worth $5,182,000 after buying an additional 2,317 shares in the last quarter. Sanibel Captiva Trust Company Inc. acquired a new stake in Abbott Laboratories in the 4th quarter valued at about $16,764,000. Gradient Investments LLC increased its holdings in Abbott Laboratories by 4.7% during the 4th quarter. Gradient Investments LLC now owns 257,508 shares of the healthcare product maker’s stock valued at $28,344,000 after acquiring an additional 11,508 shares in the last quarter. Finally, Principal Securities Inc. acquired a new position in Abbott Laboratories during the fourth quarter worth about $2,932,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 1.2 %

Abbott Laboratories stock opened at $105.96 on Friday. Abbott Laboratories has a 52 week low of $89.67 and a 52 week high of $121.64. The stock has a market cap of $184.33 billion, a price-to-earnings ratio of 33.01, a PEG ratio of 2.67 and a beta of 0.72. The company’s 50-day moving average price is $103.83 and its two-hundred day moving average price is $109.33. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. Abbott Laboratories had a return on equity of 20.32% and a net margin of 13.65%. The company had revenue of $10.38 billion during the quarter, compared to the consensus estimate of $10.37 billion. During the same quarter in the prior year, the firm earned $1.08 EPS. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, analysts expect that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be given a dividend of $0.55 per share. The ex-dividend date is Monday, July 15th. This represents a $2.20 dividend on an annualized basis and a yield of 2.08%. Abbott Laboratories’s payout ratio is 68.54%.

Insider Buying and Selling

In other Abbott Laboratories news, EVP Jr. Robert E. Funck sold 10,097 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $104.57, for a total transaction of $1,055,843.29. Following the completion of the transaction, the executive vice president now owns 211,341 shares of the company’s stock, valued at approximately $22,099,928.37. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Lisa D. Earnhardt sold 22,852 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total value of $2,428,025.00. Following the transaction, the executive vice president now directly owns 61,462 shares of the company’s stock, valued at approximately $6,530,337.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jr. Robert E. Funck sold 10,097 shares of the business’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $104.57, for a total value of $1,055,843.29. Following the completion of the transaction, the executive vice president now directly owns 211,341 shares in the company, valued at approximately $22,099,928.37. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on ABT shares. Royal Bank of Canada reissued an “outperform” rating and set a $125.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, June 4th. The Goldman Sachs Group began coverage on Abbott Laboratories in a report on Thursday, May 30th. They issued a “buy” rating and a $121.00 price target for the company. Evercore ISI reduced their price objective on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Barclays dropped their price objective on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a research report on Monday, April 22nd. Finally, Raymond James reaffirmed a “buy” rating and set a $124.00 price target on shares of Abbott Laboratories in a research note on Wednesday, April 24th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $120.70.

Abbott Laboratories Profile

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.