Retirement Systems of Alabama Cuts Stock Position in Abbott Laboratories (NYSE:ABT)

Retirement Systems of Alabama trimmed its position in shares of Abbott Laboratories (NYSE:ABT) by 7.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,093,549 shares of the healthcare product maker’s stock after selling 84,433 shares during the quarter. Retirement Systems of Alabama owned 0.06% of Abbott Laboratories worth $120,367,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Zevenbergen Capital Investments LLC boosted its stake in Abbott Laboratories by 0.6% during the third quarter. Zevenbergen Capital Investments LLC now owns 21,419 shares of the healthcare product maker’s stock worth $2,074,000 after buying an additional 130 shares during the period. Perigon Wealth Management LLC lifted its position in shares of Abbott Laboratories by 5.2% during the fourth quarter. Perigon Wealth Management LLC now owns 47,080 shares of the healthcare product maker’s stock worth $5,182,000 after purchasing an additional 2,317 shares during the last quarter. Rockland Trust Co. lifted its position in shares of Abbott Laboratories by 1.5% during the third quarter. Rockland Trust Co. now owns 91,868 shares of the healthcare product maker’s stock worth $8,897,000 after purchasing an additional 1,343 shares during the last quarter. VisionPoint Advisory Group LLC lifted its position in shares of Abbott Laboratories by 7.4% during the third quarter. VisionPoint Advisory Group LLC now owns 3,106 shares of the healthcare product maker’s stock worth $301,000 after purchasing an additional 215 shares during the last quarter. Finally, Gradient Investments LLC lifted its position in shares of Abbott Laboratories by 4.7% during the fourth quarter. Gradient Investments LLC now owns 257,508 shares of the healthcare product maker’s stock worth $28,344,000 after purchasing an additional 11,508 shares during the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Andrea F. Wainer sold 42,500 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $112.50, for a total transaction of $4,781,250.00. Following the completion of the transaction, the executive vice president now directly owns 65,027 shares of the company’s stock, valued at approximately $7,315,537.50. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Daniel Gesua Sive Salvadori sold 963 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 125,697 shares of the company’s stock, valued at approximately $14,895,094.50. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Andrea F. Wainer sold 42,500 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $112.50, for a total value of $4,781,250.00. Following the transaction, the executive vice president now directly owns 65,027 shares of the company’s stock, valued at $7,315,537.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,435 shares of company stock worth $6,451,298. Corporate insiders own 1.10% of the company’s stock.

Abbott Laboratories Stock Performance

NYSE ABT traded up $0.67 during trading hours on Friday, reaching $107.53. The stock had a trading volume of 3,575,566 shares, compared to its average volume of 5,219,304. The stock has a fifty day moving average of $113.64 and a 200 day moving average of $108.11. The stock has a market cap of $186.58 billion, a P/E ratio of 33.50, a price-to-earnings-growth ratio of 2.59 and a beta of 0.74. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.16 and a current ratio of 1.64.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. The firm had revenue of $9.96 billion for the quarter, compared to analyst estimates of $9.88 billion. Abbott Laboratories had a return on equity of 20.32% and a net margin of 13.96%. Abbott Laboratories’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.03 earnings per share. Sell-side analysts predict that Abbott Laboratories will post 4.62 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be given a $0.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $2.20 annualized dividend and a yield of 2.05%. Abbott Laboratories’s dividend payout ratio is presently 68.54%.

Analysts Set New Price Targets

ABT has been the subject of several research analyst reports. Royal Bank of Canada decreased their target price on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a research report on Thursday, April 18th. Citigroup lifted their price objective on Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Raymond James restated a “buy” rating and issued a $124.00 price objective on shares of Abbott Laboratories in a report on Wednesday. Barclays decreased their price objective on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a report on Monday, April 22nd. Finally, Evercore ISI lifted their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the company 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $121.50.

Abbott Laboratories Profile

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.