South Dakota Investment Council Sells 2,100 Shares of Abbott Laboratories (NYSE:ABT)

South Dakota Investment Council lessened its holdings in shares of Abbott Laboratories (NYSE:ABT) by 22.3% during the 4th quarter, HoldingsChannel reports. The firm owned 7,338 shares of the healthcare product maker’s stock after selling 2,100 shares during the period. South Dakota Investment Council’s holdings in Abbott Laboratories were worth $808,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Rise Advisors LLC bought a new stake in Abbott Laboratories in the fourth quarter valued at approximately $37,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in Abbott Laboratories during the third quarter worth approximately $40,000. Cornerstone Planning Group LLC grew its position in shares of Abbott Laboratories by 79.4% in the third quarter. Cornerstone Planning Group LLC now owns 454 shares of the healthcare product maker’s stock valued at $44,000 after purchasing an additional 201 shares during the last quarter. Legacy Financial Group LLC acquired a new stake in Abbott Laboratories during the 3rd quarter worth approximately $46,000. Finally, Briaud Financial Planning Inc acquired a new stake in shares of Abbott Laboratories during the third quarter worth $48,000. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Price Performance

ABT stock opened at $106.89 on Friday. Abbott Laboratories has a 12-month low of $89.67 and a 12-month high of $121.64. The company has a current ratio of 1.64, a quick ratio of 1.16 and a debt-to-equity ratio of 0.35. The company has a market cap of $185.47 billion, a PE ratio of 33.30, a price-to-earnings-growth ratio of 2.57 and a beta of 0.74. The stock has a 50-day moving average price of $113.77 and a two-hundred day moving average price of $107.96.

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

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Friday, April 12th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 68.54%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Evercore ISI raised their price target on Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Royal Bank of Canada dropped their target price on shares of Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating on the stock in a report on Thursday, April 18th. Barclays reduced their price objective on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a research report on Monday. Citigroup lifted their target price on Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Finally, Raymond James reissued a “buy” rating and set a $124.00 target price on shares of Abbott Laboratories in a report on Wednesday. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $121.50.

Insider Activity

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 42,500 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now owns 65,027 shares of the company’s stock, valued at approximately $7,315,537.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, VP John A. Jr. Mccoy sold 472 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $118.50, for a total value of $55,932.00. Following the sale, the vice president now directly owns 18,760 shares of the company’s stock, valued at $2,223,060. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Andrea F. Wainer sold 42,500 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were 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 owns 65,027 shares of the company’s stock, valued at approximately $7,315,537.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 56,435 shares of company stock worth $6,451,298. 1.10% of the stock is owned by corporate insiders.

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.