Capital Insight Partners LLC Sells 529 Shares of Abbott Laboratories (NYSE:ABT)

Capital Insight Partners LLC lessened its position in shares of Abbott Laboratories (NYSE:ABT) by 19.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,249 shares of the healthcare product maker’s stock after selling 529 shares during the period. Capital Insight Partners LLC’s holdings in Abbott Laboratories were worth $256,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of ABT. Vanguard Group Inc. grew its holdings 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 worth $17,222,332,000 after purchasing an additional 701,740 shares during the period. Capital Research Global Investors grew its holdings 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 worth $9,530,825,000 after purchasing an additional 7,527,778 shares during the period. Capital International Investors grew its holdings 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 worth $7,077,148,000 after purchasing an additional 1,457,847 shares during the period. Wellington Management Group LLP grew its holdings 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 worth $3,548,228,000 after purchasing an additional 1,027,390 shares during the period. Finally, Norges Bank acquired a new stake in Abbott Laboratories in the fourth quarter worth $2,115,836,000. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 0.7 %

Abbott Laboratories stock opened at $103.94 on Friday. The stock has a market cap of $180.82 billion, a PE ratio of 32.38, a price-to-earnings-growth ratio of 2.52 and a beta of 0.74. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.11 and a current ratio of 1.60. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $121.64. The firm’s 50-day simple moving average is $104.79 and its 200 day simple moving average is $110.08.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, topping the consensus estimate of $0.96 by $0.02. The business 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.03 earnings per share. Research analysts predict that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.12%. The ex-dividend date is Monday, July 15th. Abbott Laboratories’s dividend payout ratio is 68.54%.

Insiders Place Their Bets

In other Abbott Laboratories news, 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 value of $1,055,843.29. Following the sale, the executive vice president now owns 211,341 shares of the company’s stock, valued at $22,099,928.37. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Lisa D. Earnhardt sold 22,852 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $6,530,337.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Jr. Robert E. Funck sold 10,097 shares of the company’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 sale, the executive vice president now directly owns 211,341 shares in the company, valued at approximately $22,099,928.37. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

ABT has been the subject of a number of research reports. Evercore ISI raised their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Barclays reduced 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. Royal Bank of Canada reiterated an “outperform” rating and set a $125.00 price objective on shares of Abbott Laboratories in a report on Tuesday, June 4th. Citigroup reduced their price objective on shares of Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Finally, Raymond James reiterated a “buy” rating and set a $124.00 price objective on shares of Abbott Laboratories in a report on Wednesday, April 24th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $120.64.

About Abbott Laboratories

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.