Culbertson A N & Co. Inc. Decreases Stake in Abbott Laboratories (ABT)

Culbertson A N & Co. Inc. lessened its holdings in shares of Abbott Laboratories (NYSE:ABT) by 1.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 110,566 shares of the healthcare product maker’s stock after selling 2,155 shares during the period. Abbott Laboratories accounts for about 2.5% of Culbertson A N & Co. Inc.’s portfolio, making the stock its 8th largest position. Culbertson A N & Co. Inc.’s holdings in Abbott Laboratories were worth $7,997,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Schroder Investment Management Group boosted its stake in 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 valued at $8,194,000 after acquiring an additional 56,582 shares in the last quarter. We Are One Seven LLC acquired a new stake in Abbott Laboratories in the third quarter valued at approximately $225,000. Personal Capital Advisors Corp acquired a new stake in Abbott Laboratories in the third quarter valued at approximately $201,000. DNB Asset Management AS boosted its stake in Abbott Laboratories by 3.1% in the third quarter. DNB Asset Management AS now owns 217,170 shares of the healthcare product maker’s stock valued at $15,932,000 after acquiring an additional 6,594 shares in the last quarter. Finally, Murphy Capital Management Inc. boosted its stake in Abbott Laboratories by 5.7% in the third quarter. Murphy Capital Management Inc. now owns 24,712 shares of the healthcare product maker’s stock valued at $1,812,000 after acquiring an additional 1,330 shares in the last quarter. Institutional investors own 72.71% of the company’s stock.

Shares of Abbott Laboratories stock opened at $72.74 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.42 and a quick ratio of 1.13. Abbott Laboratories has a 1 year low of $55.58 and a 1 year high of $74.92. The firm has a market cap of $129.07 billion, a P/E ratio of 25.26, a price-to-earnings-growth ratio of 1.96 and a beta of 1.14.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, January 23rd. The healthcare product maker reported $0.81 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.81. Abbott Laboratories had a net margin of 7.74% and a return on equity of 16.50%. The firm had revenue of $7.77 billion during the quarter, compared to analysts’ expectations of $7.82 billion. During the same quarter last year, the company posted $0.74 earnings per share. The firm’s revenue was up 2.3% compared to the same quarter last year. As a group, equities analysts anticipate that Abbott Laboratories will post 3.2 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 15th. Investors 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 dividend yield of 1.76%. The ex-dividend date is Monday, January 14th. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.28. Abbott Laboratories’s dividend payout ratio (DPR) is 44.44%.

In related news, insider Jaime Contreras sold 177,457 shares of the firm’s stock in a transaction on Wednesday, January 30th. The shares were sold at an average price of $70.00, for a total transaction of $12,421,990.00. Following the completion of the transaction, the insider now owns 100,985 shares of the company’s stock, valued at $7,068,950. The sale was disclosed in a filing with the SEC, which is available at the SEC website . Also, Director John G. Stratton bought 3,455 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, January 31st. The shares were acquired at an average cost of $72.32 per share, with a total value of $249,865.60. Following the acquisition, the director now owns 3,558 shares of the company’s stock, valued at $257,314.56. The disclosure for this purchase can be found here . Company insiders own 0.74% of the company’s stock.

ABT has been the subject of several recent analyst reports. Morgan Stanley raised their target price on shares of Abbott Laboratories from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, January 2nd. Zacks Investment Research upgraded shares of 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, January 28th. Goldman Sachs Group upgraded shares of Abbott Laboratories from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $78.00 to $81.00 in a research note on Friday, November 30th. Barclays started coverage on shares of Abbott Laboratories in a research note on Monday, October 15th. They set an “overweight” rating and a $80.00 price objective for the company. Finally, Citigroup downgraded shares of Abbott Laboratories from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $72.00 to $68.00 in a research note on Wednesday, January 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $79.48.

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.

Further Reading: How to find the components of the quick ratio

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