Bahl & Gaynor Inc. Sells 260,061 Shares of Abbott Laboratories (NYSE:ABT)

Bahl & Gaynor Inc. reduced its holdings in shares of Abbott Laboratories (NYSE:ABT) by 12.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,809,287 shares of the healthcare product maker’s stock after selling 260,061 shares during the period. Abbott Laboratories makes up 1.2% of Bahl & Gaynor Inc.’s holdings, making the stock its 28th largest position. Bahl & Gaynor Inc.’s holdings in Abbott Laboratories were worth $199,148,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Zevenbergen Capital Investments LLC increased its position in Abbott Laboratories by 0.6% during the 3rd quarter. Zevenbergen Capital Investments LLC now owns 21,419 shares of the healthcare product maker’s stock valued at $2,074,000 after buying an additional 130 shares in the last quarter. Perigon Wealth Management LLC increased its position in Abbott Laboratories by 5.2% during the 4th quarter. Perigon Wealth Management LLC now owns 47,080 shares of the healthcare product maker’s stock valued at $5,182,000 after buying an additional 2,317 shares in the last quarter. Rockland Trust Co. grew its stake in Abbott Laboratories by 1.5% during the 3rd quarter. Rockland Trust Co. now owns 91,868 shares of the healthcare product maker’s stock valued at $8,897,000 after purchasing an additional 1,343 shares during the last quarter. VisionPoint Advisory Group LLC grew its stake in Abbott Laboratories by 7.4% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 3,106 shares of the healthcare product maker’s stock valued at $301,000 after purchasing an additional 215 shares during the last quarter. Finally, Gradient Investments LLC grew its stake 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 purchasing an additional 11,508 shares during the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $107.53 on Friday. The company has a market capitalization of $186.58 billion, a P/E ratio of 33.49, a P/E/G ratio of 2.57 and a beta of 0.74. The business’s 50 day moving average is $113.64 and its two-hundred day moving average is $108.03. The company has a current ratio of 1.64, a quick ratio of 1.16 and a debt-to-equity ratio of 0.35. Abbott Laboratories has a 12-month low of $89.67 and a 12-month high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. The company had revenue of $9.96 billion for the quarter, compared to the consensus estimate of $9.88 billion. Abbott Laboratories had a return on equity of 20.32% and a net margin of 13.96%. Abbott Laboratories’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.03 earnings per share. Analysts expect that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $2.20 annualized dividend and a dividend yield of 2.05%. Abbott Laboratories’s dividend payout ratio is presently 68.54%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ABT. Barclays dropped their price target on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a research note on Monday, April 22nd. Citigroup boosted their price target on Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Raymond James reiterated a “buy” rating and set a $124.00 price target on shares of Abbott Laboratories in a research note on Wednesday. Evercore ISI boosted their price target on Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Finally, Royal Bank of Canada lowered their target price on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating on the stock in a research note on Thursday, April 18th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $121.50.

Insider Activity at Abbott Laboratories

In related news, VP John A. Jr. Mccoy sold 472 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $118.50, for a total value of $55,932.00. Following the completion of the transaction, the vice president now directly owns 18,760 shares in the company, valued at $2,223,060. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Andrea F. Wainer sold 42,500 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $112.50, for a total value of $4,781,250.00. Following the transaction, the executive vice president now owns 65,027 shares in the company, valued at approximately $7,315,537.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP John A. Jr. Mccoy sold 472 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $118.50, for a total value of $55,932.00. Following the sale, the vice president now directly owns 18,760 shares in the company, valued at approximately $2,223,060. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,435 shares of company stock valued at $6,451,298. 1.10% of the stock is currently owned by insiders.

About Abbott Laboratories

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.