ARP Americas LP Trims Stock Holdings in Abbott Laboratories (NYSE:ABT)

ARP Americas LP lowered its position in shares of Abbott Laboratories (NYSE:ABT) by 63.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,803 shares of the healthcare product maker’s stock after selling 6,685 shares during the period. ARP Americas LP’s holdings in Abbott Laboratories were worth $348,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. JustInvest LLC grew its stake in Abbott Laboratories by 44.0% during the second quarter. JustInvest LLC now owns 12,672 shares of the healthcare product maker’s stock valued at $1,159,000 after acquiring an additional 3,873 shares in the last quarter. Fisher Asset Management LLC lifted its position in Abbott Laboratories by 1,199.2% during 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 during the last quarter. Alerus Financial NA lifted its position in Abbott Laboratories by 8.5% during the first quarter. Alerus Financial NA now owns 60,465 shares of the healthcare product maker’s stock valued at $4,771,000 after purchasing an additional 4,746 shares during the last quarter. Callahan Advisors LLC lifted its position in Abbott Laboratories by 0.7% during the second quarter. Callahan Advisors LLC now owns 106,753 shares of the healthcare product maker’s stock valued at $9,760,000 after purchasing an additional 724 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. lifted its position in Abbott Laboratories by 0.4% during the first quarter. Farmers & Merchants Investments Inc. now owns 182,229 shares of the healthcare product maker’s stock valued at $14,380,000 after purchasing an additional 670 shares during the last quarter. 73.59% of the stock is owned by institutional investors.

Shares of NYSE ABT traded down $0.89 during mid-day trading on Friday, hitting $100.64. The stock had a trading volume of 4,604,259 shares, compared to its average volume of 4,638,467. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.01 and a current ratio of 1.57. Abbott Laboratories has a 1 year low of $61.61 and a 1 year high of $102.89. The business has a 50 day moving average price of $93.64 and a two-hundred day moving average price of $88.45. The firm has a market cap of $178.02 billion, a P/E ratio of 58.17, a price-to-earnings-growth ratio of 3.35 and a beta of 0.97.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Thursday, July 16th. The healthcare product maker reported $0.57 EPS for the quarter, topping the consensus estimate of $0.42 by $0.15. The company had revenue of $7.33 billion for the quarter, compared to the consensus estimate of $6.85 billion. Abbott Laboratories had a net margin of 9.89% and a return on equity of 17.34%. The firm’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.82 earnings per share. Equities research analysts predict that Abbott Laboratories will post 3.27 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Wednesday, July 15th will be given a dividend of $0.36 per share. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.08. This represents a $1.44 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Tuesday, July 14th. Abbott Laboratories’s payout ratio is presently 44.44%.

Several brokerages have issued reports on ABT. Bank of America lifted their target price on shares of Abbott Laboratories from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Barclays boosted their price objective on shares of Abbott Laboratories from $92.00 to $100.00 and gave the stock an “overweight” rating in a report on Monday, April 20th. Zacks Investment Research lowered shares of Abbott Laboratories from a “hold” rating to a “sell” rating and set a $98.00 price objective for the company. in a report on Wednesday, April 15th. SVB Leerink boosted their price objective on shares of Abbott Laboratories from $97.00 to $110.00 and gave the stock a “market perform” rating in a report on Friday, July 17th. Finally, Raymond James boosted their price objective on shares of Abbott Laboratories from $92.00 to $102.00 and gave the stock an “outperform” rating in a report on Friday, April 17th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the company’s stock. Abbott Laboratories currently has an average rating of “Hold” and a consensus price target of $105.13.

In other Abbott Laboratories news, SVP Michael J. Pederson sold 23,008 shares of the business’s stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $98.00, for a total transaction of $2,254,784.00. Following the transaction, the senior vice president now directly owns 96,899 shares of the company’s stock, valued at approximately $9,496,102. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Roxanne S. Austin sold 6,844 shares of the business’s stock in a transaction on Wednesday, July 22nd. The shares were sold at an average price of $99.80, for a total transaction of $683,031.20. Following the transaction, the director now directly owns 40,043 shares in the company, valued at $3,996,291.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,724 shares of company stock worth $10,377,028. Insiders own 1.70% of the company’s stock.

Abbott Laboratories Company 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 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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