Newfound Research LLC Has $80,000 Stake in Abbott Laboratories (NYSE:ABT)


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Newfound Research LLC trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT) by 39.0% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 665 shares of the healthcare product maker’s stock after selling 425 shares during the period. Newfound Research LLC’s holdings in Abbott Laboratories were worth $80,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Creative Financial Designs Inc. ADV boosted its holdings in Abbott Laboratories by 6.1% during the first quarter. Creative Financial Designs Inc. ADV now owns 1,411 shares of the healthcare product maker’s stock valued at $169,000 after acquiring an additional 81 shares during the period. Cribstone Capital Management LLC lifted its stake in shares of Abbott Laboratories by 1.2% in the fourth quarter. Cribstone Capital Management LLC now owns 6,796 shares of the healthcare product maker’s stock valued at $744,000 after buying an additional 83 shares during the period. Axiom Financial Strategies LLC lifted its stake in shares of Abbott Laboratories by 4.4% in the fourth quarter. Axiom Financial Strategies LLC now owns 2,027 shares of the healthcare product maker’s stock valued at $222,000 after buying an additional 86 shares during the period. Ocean Capital Management LLC lifted its stake in shares of Abbott Laboratories by 2.4% in the fourth quarter. Ocean Capital Management LLC now owns 3,783 shares of the healthcare product maker’s stock valued at $414,000 after buying an additional 87 shares during the period. Finally, Cohen Lawrence B lifted its stake in shares of Abbott Laboratories by 1.2% in the fourth quarter. Cohen Lawrence B now owns 7,608 shares of the healthcare product maker’s stock valued at $833,000 after buying an additional 89 shares during the period. 72.58% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts recently weighed in on the stock. SVB Leerink increased their target price on shares of Abbott Laboratories from $115.00 to $128.00 and gave the company a “market perform” rating in a research note on Thursday, January 28th. Raymond James raised their price target on shares of Abbott Laboratories from $126.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 17th. Atlantic Securities initiated coverage on shares of Abbott Laboratories in a research note on Wednesday, April 21st. They set a “neutral” rating and a $122.00 price target for the company. William Blair restated an “outperform” rating on shares of Abbott Laboratories in a research note on Tuesday, April 20th. Finally, Cowen raised their price target on shares of Abbott Laboratories from $113.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, January 28th. One analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $126.06.

In related news, EVP Andrea F. Wainer sold 6,200 shares of the business’s stock in a transaction on Wednesday, March 3rd. The shares were sold at an average price of $121.79, for a total value of $755,098.00. Following the sale, the executive vice president now directly owns 51,550 shares of the company’s stock, valued at approximately $6,278,274.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mary K. Moreland sold 505 shares of the business’s stock in a transaction on Tuesday, February 16th. The shares were sold at an average price of $128.49, for a total transaction of $64,887.45. Following the completion of the sale, the executive vice president now directly owns 63,878 shares in the company, valued at $8,207,684.22. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,726 shares of company stock worth $1,064,230. Insiders own 1.70% of the company’s stock.

ABT traded down $1.51 during trading on Tuesday, reaching $118.02. 98,678 shares of the company’s stock were exchanged, compared to its average volume of 5,216,047. The company’s fifty day moving average price is $120.90 and its 200-day moving average price is $115.19. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.70. Abbott Laboratories has a fifty-two week low of $86.16 and a fifty-two week high of $128.54. The firm has a market capitalization of $209.08 billion, a PE ratio of 63.24, a P/E/G ratio of 2.06 and a beta of 0.83.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Monday, April 19th. The healthcare product maker reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.05. Abbott Laboratories had a net margin of 10.50% and a return on equity of 18.19%. The firm had revenue of $10.45 billion during the quarter, compared to analyst estimates of $10.72 billion. During the same quarter in the previous year, the business earned $0.65 EPS. The business’s quarterly revenue was up 35.2% compared to the same quarter last year. Research analysts forecast that Abbott Laboratories will post 3.57 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, May 17th. Stockholders of record on Thursday, April 15th will be given a dividend of $0.45 per share. The ex-dividend date is Wednesday, April 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.53%. Abbott Laboratories’s dividend payout ratio is 55.56%.

About Abbott Laboratories

Abbott Laboratories 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 Established Pharmaceutical Products segment 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.

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

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