Bristlecone Advisors LLC Sells 263 Shares of Abbott Laboratories (NYSE:ABT)

Bristlecone Advisors LLC lessened its stake in Abbott Laboratories (NYSE:ABT) by 10.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,198 shares of the healthcare product maker’s stock after selling 263 shares during the period. Bristlecone Advisors LLC’s holdings in Abbott Laboratories were worth $228,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Abbott Laboratories by 5.6% during the first quarter. Vanguard Group Inc. now owns 165,301,921 shares of the healthcare product maker’s stock valued at $18,788,216,000 after purchasing an additional 8,834,840 shares during the period. Capital Research Global Investors boosted its position in Abbott Laboratories by 9.5% during the 4th quarter. Capital Research Global Investors now owns 86,588,614 shares of the healthcare product maker’s stock valued at $9,530,825,000 after buying an additional 7,527,778 shares during the period. Capital International Investors grew its holdings in Abbott Laboratories by 9.1% in the 1st quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker’s stock worth $7,976,382,000 after acquiring an additional 5,882,780 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Abbott Laboratories by 3.3% in the fourth quarter. Wellington Management Group LLP now owns 32,236,101 shares of the healthcare product maker’s stock valued at $3,548,228,000 after acquiring an additional 1,027,390 shares during the period. Finally, Norges Bank bought a new position in shares of Abbott Laboratories during the fourth quarter valued at about $2,115,836,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ABT shares. Royal Bank of Canada restated an “outperform” rating and set a $125.00 price target on shares of Abbott Laboratories in a report on Tuesday, June 4th. Edward Jones cut Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. The Goldman Sachs Group assumed coverage on Abbott Laboratories in a research note on Thursday, May 30th. They issued a “buy” rating and a $121.00 price target for the company. Citigroup boosted their price objective on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Evercore ISI cut their target price on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $121.80.

Abbott Laboratories Stock Down 0.0 %

Shares of Abbott Laboratories stock traded down $0.03 during trading on Monday, hitting $112.66. The company’s stock had a trading volume of 1,689,685 shares, compared to its average volume of 5,954,641. Abbott Laboratories has a 52 week low of $89.67 and a 52 week high of $121.64. The company has a market capitalization of $195.99 billion, a PE ratio of 35.11, a P/E/G ratio of 2.74 and a beta of 0.72. The company has a fifty day simple moving average of $106.15 and a two-hundred day simple moving average of $108.68. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.11 and a current ratio of 1.68.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.04. The firm had revenue of $10.38 billion during the quarter, compared to analyst estimates of $10.37 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The business’s revenue was up 4.0% on a year-over-year basis. During the same period last year, the business earned $1.08 earnings per share. Equities research analysts predict that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, July 15th were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Monday, July 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.95%. Abbott Laboratories’s payout ratio is presently 68.54%.

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.