American International Group Inc. Has $72.16 Million Stock Holdings in Abbott Laboratories (NYSE:ABT)

American International Group Inc. trimmed its position in Abbott Laboratories (NYSE:ABTGet Rating) by 0.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 512,748 shares of the healthcare product maker’s stock after selling 3,278 shares during the quarter. American International Group Inc.’s holdings in Abbott Laboratories were worth $72,164,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Blue Bell Private Wealth Management LLC bought a new stake in shares of Abbott Laboratories during the 4th quarter worth approximately $30,000. Retirement Group LLC lifted its stake in Abbott Laboratories by 1,125.0% during the fourth quarter. Retirement Group LLC now owns 245 shares of the healthcare product maker’s stock worth $34,000 after purchasing an additional 225 shares during the last quarter. Joseph Group Capital Management acquired a new stake in shares of Abbott Laboratories in the 4th quarter valued at $1,566,000. Lumature Wealth Partners LLC increased its stake in shares of Abbott Laboratories by 65.4% in the 4th quarter. Lumature Wealth Partners LLC now owns 301 shares of the healthcare product maker’s stock valued at $42,000 after purchasing an additional 119 shares during the last quarter. Finally, Consolidated Planning Corp bought a new position in shares of Abbott Laboratories in the 3rd quarter valued at $36,000. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ABT stock traded up $0.80 on Friday, hitting $113.24. The company had a trading volume of 4,509,572 shares, compared to its average volume of 5,992,828. The firm has a market cap of $198.28 billion, a P/E ratio of 26.27, a P/E/G ratio of 3.05 and a beta of 0.73. The stock’s 50-day moving average is $117.00 and its two-hundred day moving average is $124.18. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.40 and a current ratio of 1.85. Abbott Laboratories has a twelve month low of $104.63 and a twelve month high of $142.60.

Abbott Laboratories (NYSE:ABTGet Rating) last issued its quarterly earnings results on Wednesday, April 20th. The healthcare product maker reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.26. The company had revenue of $11.90 billion during the quarter, compared to analysts’ expectations of $11 billion. Abbott Laboratories had a return on equity of 28.72% and a net margin of 17.35%. The business’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.32 earnings per share. Equities research analysts predict that Abbott Laboratories will post 4.7 EPS for the current year.

In related news, EVP Mary K. Moreland sold 400 shares of the firm’s stock in a transaction that occurred on Tuesday, February 22nd. The stock was sold at an average price of $119.31, for a total transaction of $47,724.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Andrea F. Wainer sold 456 shares of the firm’s stock in a transaction that occurred on Tuesday, March 1st. The stock was sold at an average price of $118.13, for a total value of $53,867.28. The disclosure for this sale can be found here. In the last three months, insiders sold 81,896 shares of company stock valued at $9,299,454. Insiders own 0.52% of the company’s stock.

Several equities analysts have recently issued reports on the company. StockNews.com assumed coverage on Abbott Laboratories in a research note on Thursday, March 31st. They issued a “strong-buy” rating on the stock. Wells Fargo & Company decreased their price target on Abbott Laboratories from $155.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday, April 8th. Raymond James decreased their price target on Abbott Laboratories from $143.00 to $135.00 and set an “outperform” rating on the stock in a research note on Thursday, April 21st. Royal Bank of Canada decreased their price target on Abbott Laboratories from $146.00 to $143.00 and set an “outperform” rating on the stock in a research note on Thursday, April 21st. Finally, Citigroup decreased their price target on Abbott Laboratories from $154.00 to $125.00 and set a “na” rating on the stock in a research note on Tuesday, May 17th. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Abbott Laboratories has an average rating of “Buy” and a consensus target price of $137.89.

Abbott Laboratories Profile (Get Rating)

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 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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