ARP Americas LP Cuts Stake in Abbott Laboratories (NYSE:ABT)

ARP Americas LP lowered its position in shares of Abbott Laboratories (NYSE:ABT) by 63.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,803 shares of the healthcare product maker’s stock after selling 6,685 shares during the period. ARP Americas LP’s holdings in Abbott Laboratories were worth $348,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Benjamin Edwards Inc. increased its stake in shares of Abbott Laboratories by 57.0% during the first quarter. Benjamin Edwards Inc. now owns 314 shares of the healthcare product maker’s stock valued at $25,000 after buying an additional 114 shares during the period. AllSquare Wealth Management LLC grew its stake in Abbott Laboratories by 560.0% in the first quarter. AllSquare Wealth Management LLC now owns 330 shares of the healthcare product maker’s stock valued at $26,000 after purchasing an additional 280 shares during the last quarter. Larson Financial Group LLC grew its stake in Abbott Laboratories by 374.3% in the first quarter. Larson Financial Group LLC now owns 351 shares of the healthcare product maker’s stock valued at $28,000 after purchasing an additional 277 shares during the last quarter. Lion Street Advisors LLC purchased a new position in Abbott Laboratories in the first quarter valued at about $31,000. Finally, AlphaCore Capital LLC purchased a new position in Abbott Laboratories in the first quarter valued at about $33,000. Hedge funds and other institutional investors own 73.59% of the company’s stock.

In other Abbott Laboratories news, SVP Michael J. Pederson sold 23,008 shares of the business’s stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $98.00, for a total value of $2,254,784.00. Following the completion of the transaction, the senior vice president now directly owns 96,899 shares of the company’s stock, valued at $9,496,102. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Roxanne S. Austin sold 6,844 shares of the business’s stock in a transaction that occurred on Wednesday, July 22nd. The shares were sold at an average price of $99.80, for a total value of $683,031.20. Following the completion of the transaction, the director now directly owns 40,043 shares of the company’s stock, valued at $3,996,291.40. The disclosure for this sale can be found here. Insiders have sold 110,724 shares of company stock valued at $10,377,028 in the last ninety days. Corporate insiders own 1.70% of the company’s stock.

ABT has been the topic of several analyst reports. Cfra lifted their target price on Abbott Laboratories from $99.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Stifel Nicolaus lifted their target price on Abbott Laboratories from $85.00 to $108.00 in a research note on Friday, April 17th. Morgan Stanley lifted their target price on Abbott Laboratories from $100.00 to $106.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. Goldman Sachs Group lowered Abbott Laboratories from a “neutral” rating to a “sell” rating and set a $84.00 target price on the stock. in a research note on Sunday, May 31st. Finally, Credit Suisse Group boosted their price target on Abbott Laboratories from $106.00 to $109.00 and gave the stock an “outperform” rating in a research note on Friday, July 17th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $105.13.

Shares of Abbott Laboratories stock traded down $0.89 on Friday, reaching $100.64. 4,604,259 shares of the stock were exchanged, compared to its average volume of 4,638,467. The company has a quick ratio of 1.01, a current ratio of 1.57 and a debt-to-equity ratio of 0.59. Abbott Laboratories has a twelve month low of $61.61 and a twelve month high of $102.89. The firm has a market capitalization of $178.02 billion, a price-to-earnings ratio of 58.17, a PEG ratio of 3.35 and a beta of 0.97. The business has a 50 day moving average price of $93.64 and a two-hundred day moving average price of $88.45.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Thursday, July 16th. The healthcare product maker reported $0.57 EPS for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.15. Abbott Laboratories had a return on equity of 17.34% and a net margin of 9.89%. The firm had revenue of $7.33 billion during the quarter, compared to the consensus estimate of $6.85 billion. During the same quarter in the previous year, the company posted $0.82 earnings per share. The company’s revenue was down 8.2% compared to the same quarter last year. Research analysts forecast that Abbott Laboratories will post 3.27 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Wednesday, July 15th will be issued a dividend of $0.36 per share. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.08. The ex-dividend date is Tuesday, July 14th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.43%. Abbott Laboratories’s payout ratio is 44.44%.

Abbott Laboratories 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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