Abbott Laboratories (NYSE:ABT) Position Reduced by Bank Julius Baer & Co. Ltd Zurich

Bank Julius Baer & Co. Ltd Zurich trimmed its stake in shares of Abbott Laboratories (NYSE:ABT) by 43.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,141,237 shares of the healthcare product maker’s stock after selling 885,905 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich owned approximately 0.07% of Abbott Laboratories worth $125,616,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in ABT. International Assets Investment Management LLC lifted its position in shares of Abbott Laboratories by 14,037.9% in the 4th quarter. International Assets Investment Management LLC now owns 1,349,176 shares of the healthcare product maker’s stock worth $148,504,000 after buying an additional 1,339,633 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Abbott Laboratories by 4.3% in the 3rd quarter. Wellington Management Group LLP now owns 31,208,711 shares of the healthcare product maker’s stock worth $3,022,564,000 after buying an additional 1,298,219 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Abbott Laboratories by 30.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 3,627,373 shares of the healthcare product maker’s stock worth $351,311,000 after buying an additional 853,997 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC lifted its position in shares of Abbott Laboratories by 28.0% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 3,664,856 shares of the healthcare product maker’s stock worth $354,941,000 after buying an additional 801,191 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in shares of Abbott Laboratories by 47.7% in the 3rd quarter. Canada Pension Plan Investment Board now owns 2,423,715 shares of the healthcare product maker’s stock worth $234,737,000 after buying an additional 783,090 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ABT shares. Raymond James reaffirmed a “buy” rating and issued a $124.00 price objective on shares of Abbott Laboratories in a report on Wednesday. Citigroup increased their price objective on shares of Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Royal Bank of Canada dropped their price objective on shares of Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating on the stock in a report on Thursday, April 18th. Barclays dropped their price objective on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Evercore ISI increased their price objective 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. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $121.50.

Insider Activity at Abbott Laboratories

In related news, EVP Andrea F. Wainer sold 12,500 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $120.00, for a total value of $1,500,000.00. Following the transaction, the executive vice president now directly owns 78,704 shares in the company, valued at $9,444,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Abbott Laboratories news, EVP Andrea F. Wainer sold 12,500 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $120.00, for a total value of $1,500,000.00. Following the sale, the executive vice president now directly owns 78,704 shares in the company, valued at $9,444,480. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Daniel Gesua Sive Salvadori sold 963 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $114,115.50. Following the sale, the executive vice president now directly owns 125,697 shares of the company’s stock, valued at approximately $14,895,094.50. The disclosure for this sale can be found here. Insiders have sold 56,435 shares of company stock worth $6,451,298 over the last ninety days. Company insiders own 1.10% of the company’s stock.

Abbott Laboratories Stock Performance

Abbott Laboratories stock remained flat at $106.89 during trading hours on Thursday. 3,111,313 shares of the company’s stock traded hands, compared to its average volume of 5,687,034. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $185.47 billion, a PE ratio of 33.30, a P/E/G ratio of 2.59 and a beta of 0.74. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $121.64. The stock has a 50 day moving average of $113.90 and a 200-day moving average of $107.97.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.02. The firm had revenue of $9.96 billion for the quarter, compared to analysts’ expectations of $9.88 billion. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.32%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.03 earnings per share. On average, equities analysts predict that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a $0.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $2.20 annualized dividend and a yield of 2.06%. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

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.