Edgestream Partners L.P. Has $2.18 Million Stock Position in Abbott Laboratories (NYSE:ABT)

Edgestream Partners L.P. lowered its stake in shares of Abbott Laboratories (NYSE:ABTGet Rating) by 29.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 20,038 shares of the healthcare product maker’s stock after selling 8,344 shares during the quarter. Edgestream Partners L.P.’s holdings in Abbott Laboratories were worth $2,177,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. SBB Research Group LLC raised its holdings in shares of Abbott Laboratories by 0.4% during the first quarter. SBB Research Group LLC now owns 23,962 shares of the healthcare product maker’s stock valued at $2,836,000 after purchasing an additional 89 shares during the period. Pitcairn Co. raised its holdings in shares of Abbott Laboratories by 0.5% during the first quarter. Pitcairn Co. now owns 18,556 shares of the healthcare product maker’s stock valued at $2,196,000 after purchasing an additional 93 shares during the period. Founders Capital Management raised its holdings in shares of Abbott Laboratories by 9.5% during the second quarter. Founders Capital Management now owns 1,073 shares of the healthcare product maker’s stock valued at $117,000 after purchasing an additional 93 shares during the period. Strategic Capital Advisers Inc. increased its position in shares of Abbott Laboratories by 5.0% during the second quarter. Strategic Capital Advisers Inc. now owns 1,956 shares of the healthcare product maker’s stock worth $212,000 after acquiring an additional 94 shares in the last quarter. Finally, Horan Securities Inc. increased its position in shares of Abbott Laboratories by 3.9% during the second quarter. Horan Securities Inc. now owns 2,532 shares of the healthcare product maker’s stock worth $275,000 after acquiring an additional 94 shares in the last quarter. Institutional investors and hedge funds own 73.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ABT shares. StockNews.com downgraded shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 20th. Citigroup decreased their target price on shares of Abbott Laboratories from $123.00 to $117.00 in a research report on Wednesday, October 5th. Barclays started coverage on shares of Abbott Laboratories in a research report on Monday, October 17th. They set an “overweight” rating and a $118.00 target price for the company. Jefferies Financial Group started coverage on shares of Abbott Laboratories in a research report on Wednesday, October 12th. They set a “hold” rating and a $110.00 target price for the company. Finally, Mizuho started coverage on shares of Abbott Laboratories in a research report on Wednesday, October 26th. They set a “neutral” rating and a $105.00 target price for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $123.00.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, Director Daniel J. Starks sold 50,000 shares of the stock in a transaction on Thursday, October 27th. The stock was sold at an average price of $97.46, for a total transaction of $4,873,000.00. Following the completion of the transaction, the director now directly owns 6,873,500 shares of the company’s stock, valued at $669,891,310. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Abbott Laboratories news, Director Daniel J. Starks sold 50,000 shares of the stock in a transaction on Thursday, October 27th. The stock was sold at an average price of $97.46, for a total transaction of $4,873,000.00. Following the completion of the transaction, the director now directly owns 6,873,500 shares of the company’s stock, valued at $669,891,310. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Joseph J. Manning sold 23,008 shares of the stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $107.00, for a total value of $2,461,856.00. Following the transaction, the executive vice president now directly owns 53,245 shares of the company’s stock, valued at $5,697,215. The disclosure for this sale can be found here. 0.52% of the stock is owned by corporate insiders.

Abbott Laboratories Stock Performance

ABT stock opened at $106.02 on Thursday. The firm has a market cap of $184.85 billion, a PE ratio of 23.93, a P/E/G ratio of 3.96 and a beta of 0.70. The company has a quick ratio of 1.43, a current ratio of 1.86 and a debt-to-equity ratio of 0.43. The business has a 50 day moving average of $100.84 and a 200-day moving average of $106.11. Abbott Laboratories has a 12-month low of $93.25 and a 12-month high of $142.60.

Abbott Laboratories (NYSE:ABTGet Rating) last announced its quarterly earnings data on Wednesday, October 19th. The healthcare product maker reported $1.15 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.21. Abbott Laboratories had a return on equity of 27.79% and a net margin of 17.52%. The business had revenue of $10.41 billion during the quarter, compared to analyst estimates of $9.65 billion. During the same period in the prior year, the company earned $1.40 earnings per share. Abbott Laboratories’s revenue was down 4.7% compared to the same quarter last year. As a group, sell-side analysts expect that Abbott Laboratories will post 5.21 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 1.77%. The ex-dividend date was Thursday, October 13th. Abbott Laboratories’s dividend payout ratio (DPR) is 42.44%.

Abbott Laboratories Company 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.

See Also

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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