Mitsubishi UFJ Trust & Banking Corp Reduces Stock Position in Abbott Laboratories (NYSE:ABT)

Mitsubishi UFJ Trust & Banking Corp reduced its holdings in shares of Abbott Laboratories (NYSE:ABT) by 4.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,549,068 shares of the healthcare product maker’s stock after selling 75,272 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Abbott Laboratories were worth $141,631,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the stock. BlackRock Inc. lifted its stake in shares of Abbott Laboratories by 5.2% during the 2nd quarter. BlackRock Inc. now owns 134,745,433 shares of the healthcare product maker’s stock valued at $12,319,776,000 after buying an additional 6,621,486 shares in the last quarter. State Street Corp lifted its stake in shares of Abbott Laboratories by 0.7% during the 1st quarter. State Street Corp now owns 74,084,521 shares of the healthcare product maker’s stock valued at $5,846,010,000 after buying an additional 528,871 shares in the last quarter. Capital International Investors lifted its stake in shares of Abbott Laboratories by 17.9% during the 1st quarter. Capital International Investors now owns 55,781,543 shares of the healthcare product maker’s stock valued at $4,401,723,000 after buying an additional 8,454,341 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Abbott Laboratories by 11.9% during the 1st quarter. Wellington Management Group LLP now owns 43,184,886 shares of the healthcare product maker’s stock valued at $3,407,719,000 after buying an additional 4,584,550 shares in the last quarter. Finally, Morgan Stanley lifted its stake in shares of Abbott Laboratories by 11.3% during the 1st quarter. Morgan Stanley now owns 25,362,234 shares of the healthcare product maker’s stock valued at $2,001,335,000 after buying an additional 2,578,161 shares in the last quarter. Institutional investors own 73.09% of the company’s stock.

Several analysts have issued reports on ABT shares. Citigroup increased their target price on shares of Abbott Laboratories from $110.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, August 28th. Morgan Stanley increased their target price on shares of Abbott Laboratories from $106.00 to $112.00 and gave the stock an “overweight” rating in a research note on Thursday, August 27th. Wolfe Research started coverage on shares of Abbott Laboratories in a research note on Friday, September 11th. They issued an “outperform” rating and a $124.00 target price on the stock. Stifel Nicolaus increased their target price on shares of Abbott Laboratories from $108.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, August 27th. Finally, Credit Suisse Group increased their target price on shares of Abbott Laboratories from $109.00 to $136.00 and gave the stock an “outperform” rating in a research note on Monday, August 31st. Three analysts have rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $111.19.

In other Abbott Laboratories news, Director Roxanne S. Austin sold 6,844 shares of the firm’s stock in a transaction 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 sale, the director now owns 40,043 shares of the company’s stock, valued at approximately $3,996,291.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Daniel Gesua Sive Salvadori sold 42,479 shares of the firm’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $111.86, for a total transaction of $4,751,700.94. Following the completion of the sale, the executive vice president now directly owns 144,912 shares in the company, valued at approximately $16,209,856.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 81,121 shares of company stock worth $8,636,628. 1.70% of the stock is owned by insiders.

Shares of ABT stock traded down $0.88 on Wednesday, hitting $105.70. 4,242,322 shares of the company’s stock traded hands, compared to its average volume of 7,452,695. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.10 and a current ratio of 1.57. Abbott Laboratories has a one year low of $61.61 and a one year high of $114.19. The company’s fifty day simple moving average is $103.06 and its 200 day simple moving average is $91.79. The stock has a market capitalization of $188.70 billion, a price-to-earnings ratio of 61.68, a P/E/G ratio of 2.94 and a beta of 0.96.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Thursday, July 16th. The healthcare product maker reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.15. Abbott Laboratories had a net margin of 9.89% and a return on equity of 17.34%. The company had revenue of $7.33 billion for the quarter, compared to analyst estimates of $6.85 billion. During the same quarter last year, the firm earned $0.82 EPS. The firm’s quarterly revenue was down 8.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Abbott Laboratories will post 3.27 earnings per share for the current fiscal year.

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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