MUFG Americas Holdings Corp cut its position in Abbott Laboratories (NYSE:ABT) by 2.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 334,023 shares of the healthcare product maker’s stock after selling 9,530 shares during the quarter. MUFG Americas Holdings Corp’s holdings in Abbott Laboratories were worth $20,014,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. BlackRock Inc. raised its stake in shares of Abbott Laboratories by 3.3% in the fourth quarter. BlackRock Inc. now owns 110,201,384 shares of the healthcare product maker’s stock valued at $6,289,191,000 after buying an additional 3,566,731 shares during the period. Geode Capital Management LLC raised its stake in shares of Abbott Laboratories by 4.6% in the fourth quarter. Geode Capital Management LLC now owns 18,056,361 shares of the healthcare product maker’s stock valued at $1,028,274,000 after buying an additional 794,027 shares during the period. Legal & General Group Plc raised its stake in shares of Abbott Laboratories by 1.0% in the third quarter. Legal & General Group Plc now owns 8,741,837 shares of the healthcare product maker’s stock valued at $466,468,000 after buying an additional 88,076 shares during the period. Janus Henderson Group PLC raised its stake in shares of Abbott Laboratories by 6.1% in the third quarter. Janus Henderson Group PLC now owns 8,353,252 shares of the healthcare product maker’s stock valued at $445,731,000 after buying an additional 478,779 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Abbott Laboratories by 4.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 7,327,489 shares of the healthcare product maker’s stock valued at $439,064,000 after buying an additional 335,665 shares during the period. Hedge funds and other institutional investors own 71.71% of the company’s stock.

In related news, insider Roger Bird sold 8,262 shares of the business’s stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $62.75, for a total transaction of $518,440.50. Following the completion of the transaction, the insider now directly owns 58,574 shares in the company, valued at $3,675,518.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Sharon J. Bracken sold 2,150 shares of the business’s stock in a transaction dated Friday, May 4th. The stock was sold at an average price of $58.56, for a total value of $125,904.00. Following the transaction, the senior vice president now owns 43,990 shares of the company’s stock, valued at $2,576,054.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 86,214 shares of company stock valued at $5,173,042. 0.74% of the stock is owned by company insiders.

Abbott Laboratories stock opened at $61.06 on Friday. Abbott Laboratories has a 52 week low of $60.40 and a 52 week high of $60.91. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.66 and a quick ratio of 1.24. The stock has a market cap of $106.54 billion, a P/E ratio of 24.42, a price-to-earnings-growth ratio of 1.75 and a beta of 1.50.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, April 18th. The healthcare product maker reported $0.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.01. Abbott Laboratories had a return on equity of 14.54% and a net margin of 1.67%. The business had revenue of $7.39 billion during the quarter, compared to analysts’ expectations of $7.28 billion. During the same period in the previous year, the business earned $0.48 earnings per share. The firm’s revenue was up 16.7% on a year-over-year basis. equities research analysts predict that Abbott Laboratories will post 2.86 earnings per share for the current fiscal year.

Several analysts have issued reports on the company. Wells Fargo boosted their target price on Abbott Laboratories from $66.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. William Blair upgraded Abbott Laboratories from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 25th. Barclays boosted their target price on Abbott Laboratories from $66.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, January 25th. Bank of America boosted their target price on Abbott Laboratories from $60.00 to $70.00 in a research note on Wednesday, January 24th. They noted that the move was a valuation call. Finally, JPMorgan Chase lifted their price target on Abbott Laboratories from $65.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, January 25th. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Abbott Laboratories has a consensus rating of “Buy” and an average price target of $68.35.

About Abbott Laboratories

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 symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.

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

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