Bellevue Group AG Cuts Holdings in Abbott Laboratories (NYSE:ABT)

Bellevue Group AG cut its position in shares of Abbott Laboratories (NYSE:ABT) by 6.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,434,183 shares of the healthcare product maker’s stock after selling 101,473 shares during the quarter. Abbott Laboratories comprises 2.5% of Bellevue Group AG’s portfolio, making the stock its 11th biggest position. Bellevue Group AG owned about 0.08% of Abbott Laboratories worth $163,009,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ABT. Kestra Advisory Services LLC lifted its holdings in shares of Abbott Laboratories by 6.7% during the 1st quarter. Kestra Advisory Services LLC now owns 166,059 shares of the healthcare product maker’s stock valued at $18,874,000 after acquiring an additional 10,390 shares in the last quarter. Steel Grove Capital Advisors LLC lifted its stake in shares of Abbott Laboratories by 21.1% during the first quarter. Steel Grove Capital Advisors LLC now owns 2,457 shares of the healthcare product maker’s stock worth $279,000 after purchasing an additional 428 shares in the last quarter. Alpine Global Management LLC purchased a new stake in shares of Abbott Laboratories in the first quarter worth about $2,061,000. LRI Investments LLC purchased a new stake in shares of Abbott Laboratories during the 1st quarter valued at about $297,000. Finally, Truvestments Capital LLC lifted its position in Abbott Laboratories by 1,143.3% during the 1st quarter. Truvestments Capital LLC now owns 17,418 shares of the healthcare product maker’s stock worth $1,980,000 after acquiring an additional 16,017 shares in the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, EVP Jr. Robert E. Funck sold 10,097 shares of Abbott Laboratories stock in a transaction on Friday, May 10th. The shares were sold at an average price of $104.57, for a total value of $1,055,843.29. Following the sale, the executive vice president now directly owns 211,341 shares in the company, valued at approximately $22,099,928.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Jr. Robert E. Funck sold 10,097 shares of Abbott Laboratories stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $104.57, for a total transaction of $1,055,843.29. Following the completion of the transaction, the executive vice president now directly owns 211,341 shares in the company, valued at approximately $22,099,928.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lisa D. Earnhardt sold 22,852 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the completion of the transaction, the executive vice president now directly owns 61,462 shares in the company, valued at $6,530,337.50. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

Abbott Laboratories Price Performance

NYSE ABT traded down $0.72 during trading on Friday, reaching $105.24. 8,611,560 shares of the company traded hands, compared to its average volume of 6,587,887. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.11 and a current ratio of 1.60. The stock’s 50 day moving average price is $103.86 and its two-hundred day moving average price is $109.22. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64. The company has a market cap of $183.08 billion, a price-to-earnings ratio of 32.79, a P/E/G ratio of 2.62 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. The company had revenue of $10.38 billion during the quarter, compared to the consensus estimate of $10.37 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.32%. The company’s revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.08 earnings per share. As a group, analysts anticipate that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be given a $0.55 dividend. The ex-dividend date is Monday, July 15th. This represents a $2.20 annualized dividend and a yield of 2.09%. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ABT shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $125.00 price objective on shares of Abbott Laboratories in a research report on Tuesday, June 4th. Citigroup cut their price objective on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Evercore ISI lowered their target price on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Barclays decreased their price objective on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a report on Monday, April 22nd. Finally, The Goldman Sachs Group initiated 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. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $120.70.

Abbott Laboratories Company 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.