Abbott Laboratories (NYSE:ABT) Shares Sold by Associated Banc Corp

Associated Banc Corp lessened its holdings in Abbott Laboratories (NYSE:ABT) by 3.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 137,895 shares of the healthcare product maker’s stock after selling 5,374 shares during the quarter. Associated Banc Corp’s holdings in Abbott Laboratories were worth $15,597,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of ABT. Impax Asset Management Group plc increased its holdings in Abbott Laboratories by 0.5% in the 3rd quarter. Impax Asset Management Group plc now owns 557,608 shares of the healthcare product maker’s stock worth $63,573,000 after buying an additional 2,754 shares during the period. United Bank boosted its position in Abbott Laboratories by 1.8% in the 3rd quarter. United Bank now owns 27,284 shares of the healthcare product maker’s stock worth $3,111,000 after purchasing an additional 488 shares in the last quarter. Broderick Brian C boosted its position in Abbott Laboratories by 0.3% in the 3rd quarter. Broderick Brian C now owns 115,876 shares of the healthcare product maker’s stock worth $13,211,000 after purchasing an additional 290 shares in the last quarter. CIBC Asset Management Inc boosted its position in Abbott Laboratories by 2.2% in the 3rd quarter. CIBC Asset Management Inc now owns 696,651 shares of the healthcare product maker’s stock worth $79,353,000 after purchasing an additional 14,708 shares in the last quarter. Finally, Vectors Research Management LLC purchased a new stake in Abbott Laboratories in the 3rd quarter worth approximately $1,642,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Trading Down 2.2 %

Shares of ABT stock opened at $127.02 on Friday. The stock’s fifty day moving average is $127.16 and its two-hundred day moving average is $119.38. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The firm has a market capitalization of $220.29 billion, a P/E ratio of 16.60, a PEG ratio of 2.52 and a beta of 0.69. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $141.23.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.34. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The business had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $11.03 billion. During the same period last year, the company earned $1.19 EPS. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. Research analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 30.85%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Wells Fargo & Company upped their price objective on Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. The Goldman Sachs Group upped their price objective on Abbott Laboratories from $138.00 to $154.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Royal Bank of Canada reiterated an “outperform” rating and set a $135.00 target price on shares of Abbott Laboratories in a research report on Tuesday, January 21st. Argus upgraded Abbott Laboratories to a “strong-buy” rating in a research report on Tuesday, January 28th. Finally, Citigroup increased their target price on Abbott Laboratories from $135.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $137.94.

Insiders Place Their Bets

In related news, EVP Lisa D. Earnhardt sold 91,167 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $133.82, for a total transaction of $12,199,967.94. Following the completion of the sale, the executive vice president now directly owns 71,928 shares of the company’s stock, valued at approximately $9,625,404.96. This trade represents a 55.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $128.50, for a total value of $3,054,573.50. Following the sale, the executive vice president now directly owns 125,697 shares of the company’s stock, valued at $16,152,064.50. The trade was a 15.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 116,449 shares of company stock valued at $15,463,316 in the last three months. 0.47% of the stock is currently owned by insiders.

About Abbott Laboratories

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.