SG Americas Securities LLC cut its holdings in shares of Abbott Laboratories (NYSE:ABT) by 85.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 63,653 shares of the healthcare product maker’s stock after selling 387,447 shares during the quarter. SG Americas Securities LLC’s holdings in Abbott Laboratories were worth $3,397,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of ABT. Commonwealth Equity Services Inc grew its holdings in shares of Abbott Laboratories by 0.9% in the third quarter. Commonwealth Equity Services Inc now owns 549,446 shares of the healthcare product maker’s stock worth $29,318,000 after purchasing an additional 4,670 shares during the last quarter. RKL Wealth Management LLC bought a new position in shares of Abbott Laboratories in the third quarter worth approximately $227,000. Marble Harbor Investment Counsel LLC grew its holdings in shares of Abbott Laboratories by 0.4% in the third quarter. Marble Harbor Investment Counsel LLC now owns 252,967 shares of the healthcare product maker’s stock worth $13,498,000 after purchasing an additional 980 shares during the last quarter. British Airways Pensions Investment Management Ltd grew its holdings in shares of Abbott Laboratories by 10.6% in the third quarter. British Airways Pensions Investment Management Ltd now owns 845,915 shares of the healthcare product maker’s stock worth $45,126,000 after purchasing an additional 80,915 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in shares of Abbott Laboratories by 21.7% in the third quarter. Advisors Asset Management Inc. now owns 149,847 shares of the healthcare product maker’s stock worth $7,996,000 after purchasing an additional 26,712 shares during the last quarter. 71.19% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Chairman Miles D. White sold 276,886 shares of Abbott Laboratories stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $54.41, for a total value of $15,065,367.26. Following the sale, the chairman now owns 3,677,913 shares in the company, valued at $200,115,246.33. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sharon J. Bracken sold 2,188 shares of Abbott Laboratories stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $56.12, for a total transaction of $122,790.56. Following the completion of the sale, the insider now owns 25,618 shares in the company, valued at approximately $1,437,682.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 501,172 shares of company stock worth $27,533,150. 0.76% of the stock is currently owned by company insiders.

ABT has been the topic of several recent analyst reports. Zacks Investment Research cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. JPMorgan Chase & Co. initiated coverage on shares of Abbott Laboratories in a report on Friday, October 6th. They issued a “neutral” rating and a $60.00 target price on the stock. Royal Bank of Canada restated a “buy” rating and issued a $65.00 target price on shares of Abbott Laboratories in a report on Tuesday, January 9th. Finally, Cowen set a $68.00 target price on shares of Abbott Laboratories and gave the stock a “buy” rating in a report on Thursday, October 19th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Abbott Laboratories currently has a consensus rating of “Buy” and an average target price of $60.24.

Shares of Abbott Laboratories (ABT) opened at $58.84 on Monday. The firm has a market cap of $102,416.96, a price-to-earnings ratio of 46.33, a P/E/G ratio of 1.87 and a beta of 1.06. Abbott Laboratories has a fifty-two week low of $39.25 and a fifty-two week high of $59.60. The company has a quick ratio of 2.26, a current ratio of 2.69 and a debt-to-equity ratio of 0.72.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.01. The business had revenue of $6.83 billion for the quarter, compared to analysts’ expectations of $6.72 billion. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The firm’s revenue for the quarter was up 28.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.59 earnings per share. equities analysts expect that Abbott Laboratories will post 2.5 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be issued a $0.28 dividend. The ex-dividend date is Thursday, January 11th. This represents a $1.12 annualized dividend and a yield of 1.90%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.27. Abbott Laboratories’s payout ratio is 88.19%.

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Abbott Laboratories Profile

Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.

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

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