Abbott Laboratories (NYSE:ABT) Shares Sold by Carlson Capital Management

Carlson Capital Management reduced its position in shares of Abbott Laboratories (NYSE:ABT) by 52.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,416 shares of the healthcare product maker’s stock after selling 26,122 shares during the period. Abbott Laboratories makes up approximately 0.5% of Carlson Capital Management’s portfolio, making the stock its 22nd largest position. Carlson Capital Management’s holdings in Abbott Laboratories were worth $1,872,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. 1 North Wealth Services LLC purchased a new position in Abbott Laboratories in the fourth quarter valued at about $33,000. Beacon Capital Management Inc. bought a new stake in shares of Abbott Laboratories in the 1st quarter worth about $38,000. Brand Asset Management Group Inc. increased its position in shares of Abbott Laboratories by 66.7% in the 4th quarter. Brand Asset Management Group Inc. now owns 500 shares of the healthcare product maker’s stock worth $36,000 after purchasing an additional 200 shares during the last quarter. Investors Research Corp bought a new stake in shares of Abbott Laboratories in the 1st quarter worth about $44,000. Finally, WP Advisors LLC bought a new stake in shares of Abbott Laboratories in the 1st quarter worth about $46,000. 73.36% of the stock is owned by hedge funds and other institutional investors.

In other news, SVP Jaime Contreras sold 82,732 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $70.00, for a total transaction of $5,791,240.00. Following the transaction, the senior vice president now directly owns 80,722 shares in the company, valued at approximately $5,650,540. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Randel William Woodgrift bought 2,000 shares of the stock in a transaction dated Monday, April 22nd. The shares were bought at an average price of $73.40 per share, for a total transaction of $146,800.00. Following the completion of the acquisition, the insider now owns 52,562 shares in the company, valued at $3,858,050.80. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 1,199,910 shares of company stock worth $93,837,075. Insiders own 0.70% of the company’s stock.

Several research firms have recently commented on ABT. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a report on Friday, May 10th. Wells Fargo & Co increased their price target on Abbott Laboratories from $89.00 to $91.00 and gave the company an “outperform” rating in a research report on Thursday, June 13th. William Blair reaffirmed an “outperform” rating on shares of Abbott Laboratories in a research report on Thursday, April 18th. Royal Bank of Canada raised their target price on Abbott Laboratories to $82.00 and gave the company a “buy” rating in a research report on Monday, April 15th. They noted that the move was a valuation call. Finally, Bank of America reaffirmed a “buy” rating and set a $81.00 target price on shares of Abbott Laboratories in a research report on Thursday, June 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $81.38.

Shares of ABT traded up $0.41 during trading hours on Friday, reaching $84.10. 16,436,740 shares of the company’s stock traded hands, compared to its average volume of 5,846,442. The company has a market capitalization of $146.36 billion, a PE ratio of 29.20, a PEG ratio of 2.33 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.13 and a current ratio of 1.58. The firm’s 50 day simple moving average is $79.35. Abbott Laboratories has a 12 month low of $60.32 and a 12 month high of $85.45.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.02. Abbott Laboratories had a return on equity of 16.86% and a net margin of 8.53%. The firm had revenue of $7.54 billion during the quarter, compared to analysts’ expectations of $7.49 billion. During the same quarter last year, the firm earned $0.59 EPS. The business’s quarterly revenue was up 2.0% on a year-over-year basis. Analysts expect that Abbott Laboratories will post 3.22 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.52%. The ex-dividend date is Friday, July 12th. Abbott Laboratories’s dividend payout ratio is currently 44.44%.

Abbott Laboratories Company Profile

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

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

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