TBH Global Asset Management LLC Sells 242 Shares of Abbott Laboratories (NYSE:ABT)

TBH Global Asset Management LLC cut its holdings in shares of Abbott Laboratories (NYSE:ABTFree Report) by 4.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,735 shares of the healthcare product maker’s stock after selling 242 shares during the period. TBH Global Asset Management LLC’s holdings in Abbott Laboratories were worth $652,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Abbott Laboratories by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 156,467,081 shares of the healthcare product maker’s stock valued at $17,222,332,000 after acquiring an additional 701,740 shares in the last quarter. Capital Research Global Investors boosted its stake in Abbott Laboratories by 9.5% in the fourth 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 acquiring an additional 7,527,778 shares in the last quarter. Capital International Investors boosted its stake in Abbott Laboratories by 2.3% in the fourth quarter. Capital International Investors now owns 64,294,784 shares of the healthcare product maker’s stock valued at $7,077,148,000 after acquiring an additional 1,457,847 shares in the last quarter. Wellington Management Group LLP boosted its stake in Abbott Laboratories by 3.3% in the fourth quarter. Wellington Management Group LLP now owns 32,236,101 shares of the healthcare product maker’s stock valued at $3,548,228,000 after acquiring an additional 1,027,390 shares in the last quarter. Finally, Norges Bank acquired a new stake in Abbott Laboratories in the fourth quarter valued at approximately $2,115,836,000. 75.18% of the stock is currently owned by institutional investors.

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Citigroup lowered their target price on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Barclays decreased their price target 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. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $125.00 price target on shares of Abbott Laboratories in a report on Tuesday, June 4th. Raymond James reaffirmed a “buy” rating and issued a $124.00 price target on shares of Abbott Laboratories in a report on Wednesday, April 24th. Finally, The Goldman Sachs Group started coverage on shares of Abbott Laboratories in a report on Thursday, May 30th. They issued a “buy” rating and a $121.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.18.

Get Our Latest Stock Report on ABT

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock traded down $4.59 during trading on Thursday, hitting $100.09. 13,068,999 shares of the company’s stock were exchanged, compared to its average volume of 5,769,514. 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 business has a 50-day simple moving average of $103.93 and a 200-day simple moving average of $109.59. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64. The stock has a market capitalization of $174.12 billion, a price-to-earnings ratio of 32.62, a PEG ratio of 2.47 and a beta of 0.72.

Abbott Laboratories (NYSE:ABTGet Free Report) last issued its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.04. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. The firm had revenue of $10.38 billion during the quarter, compared to analysts’ expectations of $10.37 billion. During the same quarter last year, the company posted $1.08 earnings per share. The firm’s revenue was up 4.0% compared to the same quarter last year. On average, research analysts forecast that Abbott Laboratories will post 4.62 EPS for the current year.

Abbott Laboratories Dividend Announcement

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

Abbott Laboratories Company 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.

Further Reading

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

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