Cigna Investments Inc. New Increases Stake in Abbott Laboratories (NYSE:ABT)

Cigna Investments Inc. New raised its stake in shares of Abbott Laboratories (NYSE:ABT) by 6.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,682 shares of the healthcare product maker’s stock after buying an additional 3,226 shares during the quarter. Cigna Investments Inc. New’s holdings in Abbott Laboratories were worth $3,920,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bamco Inc. NY grew its holdings in Abbott Laboratories by 37.2% during the 4th quarter. Bamco Inc. NY now owns 9,596 shares of the healthcare product maker’s stock valued at $834,000 after buying an additional 2,600 shares in the last quarter. Cetera Advisor Networks LLC grew its holdings in shares of Abbott Laboratories by 12.3% in the fourth quarter. Cetera Advisor Networks LLC now owns 40,256 shares of the healthcare product maker’s stock valued at $3,491,000 after purchasing an additional 4,411 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Abbott Laboratories by 1,199.2% in the first quarter. Fisher Asset Management LLC now owns 3,563,878 shares of the healthcare product maker’s stock valued at $281,226,000 after purchasing an additional 3,289,573 shares in the last quarter. Capital Wealth Planning LLC grew its holdings in shares of Abbott Laboratories by 6.3% in the fourth quarter. Capital Wealth Planning LLC now owns 529,600 shares of the healthcare product maker’s stock valued at $46,001,000 after purchasing an additional 31,200 shares in the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of Abbott Laboratories by 4.5% in the fourth quarter. Alliancebernstein L.P. now owns 14,072,375 shares of the healthcare product maker’s stock valued at $1,222,326,000 after purchasing an additional 610,015 shares in the last quarter. 74.89% of the stock is owned by institutional investors and hedge funds.

A number of research firms recently weighed in on ABT. Zacks Investment Research lowered shares of Abbott Laboratories from a “hold” rating to a “sell” rating and set a $98.00 target price for the company. in a report on Wednesday, April 15th. Barclays raised their target price on shares of Abbott Laboratories from $92.00 to $100.00 and gave the company an “overweight” rating in a report on Monday, April 20th. Credit Suisse Group reissued a “buy” rating and issued a $106.00 target price on shares of Abbott Laboratories in a report on Friday. Wells Fargo & Co raised their target price on shares of Abbott Laboratories from $95.00 to $107.00 and gave the company an “overweight” rating in a report on Friday, April 17th. Finally, Citigroup raised their price target on Abbott Laboratories from $87.00 to $109.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company. Abbott Laboratories presently has a consensus rating of “Buy” and a consensus target price of $99.47.

In other news, EVP Andrew H. Lane sold 80,000 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $92.00, for a total transaction of $7,360,000.00. Following the sale, the executive vice president now owns 107,090 shares in the company, valued at $9,852,280. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John F. Ginascol sold 63,200 shares of the business’s stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $96.00, for a total value of $6,067,200.00. Following the sale, the executive vice president now owns 129,645 shares in the company, valued at approximately $12,445,920. The disclosure for this sale can be found here. Insiders have sold 166,186 shares of company stock worth $15,359,524 in the last 90 days. Insiders own 1.70% of the company’s stock.

ABT traded up $1.08 on Friday, hitting $91.47. The company had a trading volume of 5,182,655 shares, compared to its average volume of 7,501,599. The stock has a fifty day moving average price of $90.01 and a 200-day moving average price of $85.74. Abbott Laboratories has a 12-month low of $61.61 and a 12-month high of $100.00. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.01 and a current ratio of 1.43. The stock has a market capitalization of $159.89 billion, a price-to-earnings ratio of 45.96, a P/E/G ratio of 3.75 and a beta of 0.98.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Thursday, April 16th. The healthcare product maker reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.07. Abbott Laboratories had a return on equity of 18.61% and a net margin of 11.15%. The company had revenue of $7.73 billion for the quarter, compared to analyst estimates of $7.47 billion. During the same quarter in the previous year, the firm earned $0.63 earnings per share. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. Analysts forecast that Abbott Laboratories will post 2.81 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 8th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.35%. Abbott Laboratories’s payout ratio is 44.44%.

About Abbott Laboratories

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 symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

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

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