Baxter Bros Inc. Reduces Position in Abbott Laboratories (ABT)

Baxter Bros Inc. reduced its position in shares of Abbott Laboratories (NYSE:ABT) by 8.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,561 shares of the healthcare product maker’s stock after selling 442 shares during the quarter. Baxter Bros Inc.’s holdings in Abbott Laboratories were worth $330,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Schroder Investment Management Group raised its stake in shares of Abbott Laboratories by 73.3% in the second quarter. Schroder Investment Management Group now owns 133,744 shares of the healthcare product maker’s stock worth $8,194,000 after purchasing an additional 56,582 shares during the last quarter. Legacy Capital Partners Inc. raised its stake in shares of Abbott Laboratories by 1.2% in the third quarter. Legacy Capital Partners Inc. now owns 67,216 shares of the healthcare product maker’s stock worth $4,930,000 after purchasing an additional 797 shares during the last quarter. Park National Corp OH raised its stake in shares of Abbott Laboratories by 0.8% in the third quarter. Park National Corp OH now owns 553,887 shares of the healthcare product maker’s stock worth $40,633,000 after purchasing an additional 4,149 shares during the last quarter. New England Research & Management Inc. raised its stake in shares of Abbott Laboratories by 48.0% in the third quarter. New England Research & Management Inc. now owns 32,226 shares of the healthcare product maker’s stock worth $2,364,000 after purchasing an additional 10,449 shares during the last quarter. Finally, Fulton Bank N.A. raised its stake in shares of Abbott Laboratories by 4.3% in the third quarter. Fulton Bank N.A. now owns 19,375 shares of the healthcare product maker’s stock worth $1,421,000 after purchasing an additional 791 shares during the last quarter. 72.74% of the stock is currently owned by institutional investors and hedge funds.

In other Abbott Laboratories news, insider Jared Watkin sold 65,000 shares of the stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $71.00, for a total transaction of $4,615,000.00. Following the completion of the transaction, the insider now directly owns 128,640 shares of the company’s stock, valued at $9,133,440. The sale was disclosed in a filing with the SEC, which is available through the SEC website . Also, Chairman Miles D. White sold 142,341 shares of the stock in a transaction on Wednesday, November 28th. The shares were sold at an average price of $72.35, for a total value of $10,298,371.35. Following the transaction, the chairman now directly owns 3,459,185 shares of the company’s stock, valued at $250,272,034.75. The disclosure for this sale can be found here . 0.74% of the stock is currently owned by corporate insiders.

Several analysts have recently commented on the company. Zacks Investment Research raised Abbott Laboratories from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research note on Monday. JPMorgan Chase & Co. increased their price objective on Abbott Laboratories from $77.00 to $81.00 and gave the stock an “overweight” rating in a research note on Monday, October 8th. Credit Suisse Group initiated coverage on Abbott Laboratories in a research note on Monday, December 17th. They issued an “outperform” rating and a $82.00 price objective for the company. Barclays initiated coverage on Abbott Laboratories in a research report on Monday, October 15th. They set an “overweight” rating and a $80.00 price target for the company. Finally, BTIG Research reaffirmed a “hold” rating on shares of Abbott Laboratories in a research report on Thursday, October 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the stock. Abbott Laboratories has an average rating of “Buy” and a consensus price target of $79.38.

Shares of ABT opened at $69.05 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.42 and a quick ratio of 1.13. The company has a market cap of $124.96 billion, a P/E ratio of 23.98, a price-to-earnings-growth ratio of 1.90 and a beta of 1.24. Abbott Laboratories has a 12 month low of $55.58 and a 12 month high of $74.92.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, January 23rd. The healthcare product maker reported $0.81 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.81. The company had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.82 billion. Abbott Laboratories had a return on equity of 16.50% and a net margin of 7.74%. Abbott Laboratories’s revenue was up 2.3% on a year-over-year basis. During the same period last year, the business posted $0.74 earnings per share. On average, equities research analysts predict that Abbott Laboratories will post 3.2 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 15th. Shareholders of record on Tuesday, January 15th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.85%. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, January 14th. Abbott Laboratories’s dividend payout ratio is 44.44%.

Abbott Laboratories Profile

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.

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