Rehmann Capital Advisory Group Sells 326 Shares of Abbott Laboratories (NYSE:ABT)

Rehmann Capital Advisory Group decreased its position in Abbott Laboratories (NYSE:ABTFree Report) by 2.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,313 shares of the healthcare product maker’s stock after selling 326 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Abbott Laboratories were worth $1,286,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in Abbott Laboratories in the 4th quarter valued at $2,115,836,000. Capital Research Global Investors boosted its holdings in Abbott Laboratories by 9.5% in the 4th quarter. Capital Research Global Investors now owns 86,588,614 shares of the healthcare product maker’s stock valued at $9,530,825,000 after purchasing an additional 7,527,778 shares during the period. Boston Partners boosted its holdings in Abbott Laboratories by 12,577.8% in the 4th quarter. Boston Partners now owns 3,772,670 shares of the healthcare product maker’s stock valued at $415,948,000 after purchasing an additional 3,742,912 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Abbott Laboratories by 41.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 5,009,838 shares of the healthcare product maker’s stock valued at $551,434,000 after purchasing an additional 1,477,671 shares during the period. Finally, Capital International Investors boosted its holdings 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 valued at $7,077,148,000 after purchasing an additional 1,457,847 shares during the period. 75.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Lisa D. Earnhardt sold 22,852 shares of the business’s 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 sale, the executive vice president now 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 Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Lisa D. Earnhardt sold 22,852 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now owns 61,462 shares in the company, valued at $6,530,337.50. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 transaction of $1,055,843.29. Following the completion of the transaction, the executive vice president now owns 211,341 shares of the company’s stock, valued at $22,099,928.37. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on ABT shares. Barclays lowered their price objective on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a research report on Monday, April 22nd. Royal Bank of Canada restated an “outperform” rating and set a $125.00 price objective on shares of Abbott Laboratories in a research report on Tuesday, June 4th. Citigroup lowered their price objective on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. Raymond James restated a “buy” rating and set a $124.00 price objective on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Finally, Evercore ISI lowered their price objective on shares of Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Three research analysts have rated the stock with a hold rating and eight have issued 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 target price of $120.18.

Check Out Our Latest Stock Analysis on ABT

Abbott Laboratories Trading Up 0.8 %

Shares of ABT stock traded up $0.86 during mid-day trading on Wednesday, reaching $102.50. The stock had a trading volume of 3,906,951 shares, compared to its average volume of 5,643,487. The stock’s 50-day moving average price is $104.18 and its two-hundred day moving average price is $109.85. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64. The firm has a market capitalization of $178.31 billion, a PE ratio of 31.83, a price-to-earnings-growth ratio of 2.46 and a beta of 0.72. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABTGet Free Report) last announced its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. The firm had revenue of $9.96 billion for the quarter, compared to analyst estimates of $9.88 billion. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.03 EPS. Equities analysts expect that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend is Monday, July 15th. Abbott Laboratories’s payout ratio is currently 68.54%.

Abbott Laboratories Profile

(Free Report)

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.

Featured Articles

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:ABTFree Report).

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.