Abbott Laboratories (NYSE:ABT) Shares Sold by Copperwynd Financial LLC

Copperwynd Financial LLC lessened its holdings in shares of Abbott Laboratories (NYSE:ABTGet Rating) by 7.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,867 shares of the healthcare product maker’s stock after selling 439 shares during the quarter. Copperwynd Financial LLC’s holdings in Abbott Laboratories were worth $694,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. BlackRock Inc. boosted its position in shares of Abbott Laboratories by 2.1% during the 4th quarter. BlackRock Inc. now owns 137,155,602 shares of the healthcare product maker’s stock valued at $19,303,283,000 after acquiring an additional 2,836,966 shares during the last quarter. State Street Corp boosted its position in shares of Abbott Laboratories by 2.6% during the 4th quarter. State Street Corp now owns 74,322,051 shares of the healthcare product maker’s stock valued at $10,460,085,000 after acquiring an additional 1,896,462 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Abbott Laboratories by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 27,906,282 shares of the healthcare product maker’s stock valued at $3,915,982,000 after acquiring an additional 776,993 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Abbott Laboratories by 0.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 26,698,119 shares of the healthcare product maker’s stock valued at $3,757,493,000 after acquiring an additional 82,926 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Abbott Laboratories during the 4th quarter valued at about $2,290,723,000. 73.46% of the stock is currently owned by institutional investors.

ABT has been the topic of several research analyst reports. StockNews.com initiated coverage on shares of Abbott Laboratories in a report on Thursday, March 31st. They issued a “strong-buy” rating on the stock. Morgan Stanley reduced their price objective on shares of Abbott Laboratories from $151.00 to $145.00 and set an “overweight” rating on the stock in a report on Tuesday, June 7th. Wells Fargo & Company reduced their price objective on shares of Abbott Laboratories from $155.00 to $150.00 and set an “overweight” rating on the stock in a report on Friday, April 8th. BTIG Research reduced their price objective on shares of Abbott Laboratories from $140.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, June 24th. Finally, Citigroup reduced their price objective on shares of Abbott Laboratories from $154.00 to $125.00 and set a “na” rating on the stock in a report on Tuesday, May 17th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $139.64.

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. Corporate insiders own 0.52% of the company’s stock.

ABT stock opened at $108.65 on Friday. The company’s 50 day moving average price is $111.58 and its 200 day moving average price is $120.60. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.40 and a current ratio of 1.85. Abbott Laboratories has a fifty-two week low of $101.24 and a fifty-two week high of $142.60. The firm has a market capitalization of $190.24 billion, a price-to-earnings ratio of 25.21, a PEG ratio of 3.95 and a beta of 0.73.

Abbott Laboratories (NYSE:ABTGet Rating) last announced its quarterly earnings results on Wednesday, April 20th. The healthcare product maker reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.26. The firm had revenue of $11.90 billion during the quarter, compared to the consensus estimate of $11 billion. Abbott Laboratories had a return on equity of 28.72% and a net margin of 17.35%. The firm’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.32 earnings per share. Equities analysts forecast that Abbott Laboratories will post 4.84 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Friday, July 15th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend is Thursday, July 14th. Abbott Laboratories’s dividend payout ratio (DPR) is 43.62%.

About Abbott Laboratories (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.

Further Reading

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

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