Sit Investment Associates Inc. cut its position in Abbott Laboratories (NYSE:ABT) by 14.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 618,970 shares of the healthcare product maker’s stock after selling 108,550 shares during the period. Sit Investment Associates Inc.’s holdings in Abbott Laboratories were worth $35,325,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in ABT. Daiwa Securities Group Inc. grew its stake in Abbott Laboratories by 6.7% during the second quarter. Daiwa Securities Group Inc. now owns 55,241 shares of the healthcare product maker’s stock valued at $2,685,000 after acquiring an additional 3,455 shares in the last quarter. JFS Wealth Advisors LLC grew its stake in Abbott Laboratories by 349.0% during the second quarter. JFS Wealth Advisors LLC now owns 2,694 shares of the healthcare product maker’s stock valued at $131,000 after acquiring an additional 2,094 shares in the last quarter. First Western Capital Management Co grew its stake in Abbott Laboratories by 0.7% during the second quarter. First Western Capital Management Co now owns 82,192 shares of the healthcare product maker’s stock valued at $3,995,000 after acquiring an additional 549 shares in the last quarter. Ronald Blue & Co. LLC grew its stake in Abbott Laboratories by 0.9% during the second quarter. Ronald Blue & Co. LLC now owns 8,368 shares of the healthcare product maker’s stock valued at $407,000 after acquiring an additional 71 shares in the last quarter. Finally, Bank of Stockton grew its stake in Abbott Laboratories by 6.7% during the second quarter. Bank of Stockton now owns 14,075 shares of the healthcare product maker’s stock valued at $684,000 after acquiring an additional 885 shares in the last quarter. 71.22% of the stock is owned by hedge funds and other institutional investors.

In related news, EVP Stephen R. Fussell sold 13,313 shares of Abbott Laboratories stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $62.84, for a total transaction of $836,588.92. Following the completion of the sale, the executive vice president now owns 152,343 shares in the company, valued at approximately $9,573,234.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Alejandro D. Wellisch sold 2,153 shares of Abbott Laboratories stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $55.86, for a total transaction of $120,266.58. Following the sale, the insider now owns 10,256 shares of the company’s stock, valued at approximately $572,900.16. The disclosure for this sale can be found here. Insiders sold a total of 445,615 shares of company stock valued at $24,666,341 in the last 90 days. Company insiders own 0.76% of the company’s stock.

Several equities analysts have commented on ABT shares. Bank of America increased their price objective on shares of Abbott Laboratories from $60.00 to $70.00 in a research report on Wednesday, January 24th. They noted that the move was a valuation call. Cowen set a $68.00 price objective on shares of Abbott Laboratories and gave the company a “buy” rating in a research report on Thursday, October 19th. Stifel Nicolaus increased their price objective on shares of Abbott Laboratories from $58.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, October 19th. Jefferies Group reiterated a “buy” rating and set a $65.00 price objective on shares of Abbott Laboratories in a research report on Thursday, October 19th. Finally, Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research report on Monday, October 16th. Eight investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Abbott Laboratories has a consensus rating of “Buy” and an average price target of $65.47.

Shares of Abbott Laboratories (NYSE ABT) opened at $56.27 on Friday. The stock has a market cap of $102,121.05, a PE ratio of 216.43, a PEG ratio of 1.76 and a beta of 1.55. 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 has a twelve month low of $42.31 and a twelve month high of $64.60.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.01. The firm had revenue of $7.59 billion during the quarter, compared to analyst estimates of $7.38 billion. Abbott Laboratories had a net margin of 1.74% and a return on equity of 13.80%. The business’s revenue was up 42.3% on a year-over-year basis. During the same quarter last year, the business earned $0.65 EPS. research analysts expect that Abbott Laboratories will post 2.86 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Thursday, January 11th. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.27. Abbott Laboratories’s dividend payout ratio (DPR) is 430.79%.

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Abbott Laboratories Company 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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