Public Employees Retirement Association of Colorado Cuts Stock Position in Abbott Laboratories (NYSE:ABT)

Public Employees Retirement Association of Colorado lessened its stake in Abbott Laboratories (NYSE:ABTGet Rating) by 0.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,266,891 shares of the healthcare product maker’s stock after selling 1,572 shares during the quarter. Public Employees Retirement Association of Colorado owned approximately 0.07% of Abbott Laboratories worth $178,302,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Blue Bell Private Wealth Management LLC purchased a new stake in shares of Abbott Laboratories during the fourth quarter worth $30,000. Retirement Group LLC grew its holdings in shares of 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 buying an additional 225 shares in the last quarter. Joseph Group Capital Management purchased a new stake in shares of Abbott Laboratories during the fourth quarter worth $1,566,000. Lumature Wealth Partners LLC grew its holdings in shares of Abbott Laboratories by 65.4% during the fourth quarter. Lumature Wealth Partners LLC now owns 301 shares of the healthcare product maker’s stock worth $42,000 after buying an additional 119 shares in the last quarter. Finally, Consolidated Planning Corp purchased a new stake in shares of Abbott Laboratories during the third quarter worth $36,000. 73.46% of the stock is owned by institutional investors and hedge funds.

NYSE:ABT traded up $4.83 on Tuesday, reaching $114.54. 8,954,601 shares of the company’s stock were exchanged, compared to its average volume of 6,050,181. The business has a fifty day moving average of $117.16 and a 200-day moving average of $124.50. The company has a quick ratio of 1.40, a current ratio of 1.85 and a debt-to-equity ratio of 0.48. Abbott Laboratories has a 52-week low of $104.63 and a 52-week high of $142.60. The firm has a market capitalization of $200.55 billion, a price-to-earnings ratio of 26.58, a price-to-earnings-growth ratio of 2.91 and a beta of 0.73.

Abbott Laboratories (NYSE:ABTGet Rating) last released its earnings results on Wednesday, April 20th. The healthcare product maker reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.26. Abbott Laboratories had a net margin of 17.35% and a return on equity of 28.72%. The firm had revenue of $11.90 billion for the quarter, compared to analyst estimates of $11 billion. During the same period in the prior year, the firm earned $1.32 earnings per share. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. As a group, equities analysts anticipate that Abbott Laboratories will post 4.82 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, May 16th. Investors of record on Friday, April 15th were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Wednesday, April 13th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.64%. Abbott Laboratories’s payout ratio is 43.62%.

In other news, SVP Randel William Woodgrift sold 24,000 shares of the stock in a transaction that occurred on Wednesday, May 4th. The stock was sold at an average price of $113.00, for a total value of $2,712,000.00. Following the completion of the sale, the senior vice president now directly owns 47,854 shares of the company’s stock, valued at $5,407,502. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel J. Starks sold 50,000 shares of the stock in a transaction that occurred on Tuesday, May 3rd. The shares were sold at an average price of $113.22, for a total value of $5,661,000.00. Following the completion of the sale, the director now directly owns 6,973,500 shares of the company’s stock, valued at $789,539,670. The disclosure for this sale can be found here. Insiders have sold 81,896 shares of company stock worth $9,299,454 over the last 90 days. Insiders own 0.52% of the company’s stock.

Several brokerages have recently weighed in on ABT. Morgan Stanley lowered their price target on shares of Abbott Laboratories from $157.00 to $151.00 and set an “overweight” rating on the stock in a research report on Thursday, January 27th. BTIG Research decreased their target price on shares of Abbott Laboratories from $143.00 to $138.00 in a research report on Wednesday, January 26th. StockNews.com started coverage on shares of Abbott Laboratories in a research report on Thursday, March 31st. They issued a “strong-buy” rating on the stock. Raymond James decreased their target price on shares of Abbott Laboratories from $143.00 to $135.00 and set an “outperform” rating on the stock in a research report on Thursday, April 21st. Finally, Bank of America started coverage on shares of Abbott Laboratories in a research report on Tuesday, March 1st. They issued a “buy” rating and a $140.00 target price on the stock. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target 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.

Recommended Stories

Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abbott Laboratories (NYSE:ABTGet Rating).

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

Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.