Burns J W & Co. Inc. NY Has $3.38 Million Stock Holdings in Abbott Laboratories (NYSE:ABT)

Burns J W & Co. Inc. NY reduced its stake in Abbott Laboratories (NYSE:ABT) by 13.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,707 shares of the healthcare product maker’s stock after selling 4,684 shares during the quarter. Burns J W & Co. Inc. NY’s holdings in Abbott Laboratories were worth $3,376,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Abbott Laboratories by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 156,467,081 shares of the healthcare product maker’s stock valued at $17,222,332,000 after buying an additional 701,740 shares in the last quarter. Capital Research Global Investors increased its position in Abbott Laboratories by 9.5% during the fourth quarter. Capital Research Global Investors now owns 86,588,614 shares of the healthcare product maker’s stock worth $9,530,825,000 after acquiring an additional 7,527,778 shares during the period. Capital International Investors raised its stake in Abbott Laboratories by 2.3% in the 4th quarter. Capital International Investors now owns 64,294,784 shares of the healthcare product maker’s stock worth $7,077,148,000 after purchasing an additional 1,457,847 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Abbott Laboratories by 3.3% during the 4th quarter. Wellington Management Group LLP now owns 32,236,101 shares of the healthcare product maker’s stock worth $3,548,228,000 after purchasing an additional 1,027,390 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Abbott Laboratories in the fourth quarter valued at approximately $2,115,836,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Price Performance

ABT stock traded down $0.74 during midday trading on Friday, reaching $103.91. 8,283,577 shares of the stock were exchanged, compared to its average volume of 5,748,477. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.11. The stock has a market capitalization of $180.76 billion, a PE ratio of 32.38, a P/E/G ratio of 2.52 and a beta of 0.74. Abbott Laboratories has a 52 week low of $89.67 and a 52 week high of $121.64. The company has a fifty day moving average price of $104.79 and a 200 day moving average price of $110.08.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. The business had revenue of $9.96 billion during the quarter, compared to analyst estimates of $9.88 billion. During the same quarter last year, the business earned $1.03 EPS. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. As a group, analysts expect that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently announced 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. This represents a $2.20 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Monday, July 15th. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

Analyst Ratings Changes

A number of equities analysts have commented on the company. The Goldman Sachs Group initiated coverage on Abbott Laboratories in a research note on Thursday, May 30th. They set a “buy” rating and a $121.00 price objective on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $125.00 price target on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Barclays decreased their target price on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a report on Monday, April 22nd. Evercore ISI increased their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Finally, Citigroup lowered their price objective on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $120.64.

Insider Buying and Selling at Abbott Laboratories

In related news, EVP Lisa D. Earnhardt sold 22,852 shares of Abbott Laboratories 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 $6,530,337.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Abbott Laboratories news, EVP Jr. Robert E. Funck sold 10,097 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 211,341 shares of the company’s stock, valued at $22,099,928.37. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Lisa D. Earnhardt sold 22,852 shares of the firm’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 transaction of $2,428,025.00. Following the sale, the executive vice president now directly owns 61,462 shares of the company’s stock, valued at approximately $6,530,337.50. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

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.