Amundi Pioneer Asset Management Inc. Sells 46,372 Shares of Abbott Laboratories (NYSE:ABT)

Amundi Pioneer Asset Management Inc. decreased its holdings in Abbott Laboratories (NYSE:ABT) by 1.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,626,337 shares of the healthcare product maker’s stock after selling 46,372 shares during the period. Amundi Pioneer Asset Management Inc. owned about 0.15% of Abbott Laboratories worth $209,949,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. lifted its holdings in shares of Abbott Laboratories by 13.2% in the fourth quarter. Advisors Asset Management Inc. now owns 166,047 shares of the healthcare product maker’s stock valued at $12,010,000 after purchasing an additional 19,300 shares in the last quarter. Locust Wood Capital Advisers LLC lifted its holdings in shares of Abbott Laboratories by 39.5% in the fourth quarter. Locust Wood Capital Advisers LLC now owns 784,146 shares of the healthcare product maker’s stock valued at $56,717,000 after purchasing an additional 221,885 shares in the last quarter. TD Asset Management Inc. lifted its holdings in shares of Abbott Laboratories by 6.7% in the fourth quarter. TD Asset Management Inc. now owns 1,863,159 shares of the healthcare product maker’s stock valued at $134,762,000 after purchasing an additional 116,288 shares in the last quarter. CFO4Life Group LLC lifted its holdings in shares of Abbott Laboratories by 32.6% in the fourth quarter. CFO4Life Group LLC now owns 4,140 shares of the healthcare product maker’s stock valued at $299,000 after purchasing an additional 1,018 shares in the last quarter. Finally, Sadoff Investment Management LLC lifted its holdings in shares of Abbott Laboratories by 14.9% in the fourth quarter. Sadoff Investment Management LLC now owns 4,249 shares of the healthcare product maker’s stock valued at $307,000 after purchasing an additional 550 shares in the last quarter. 73.38% of the stock is currently owned by institutional investors and hedge funds.

In other news, EVP Stephen R. Fussell sold 56,000 shares of Abbott Laboratories stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $76.00, for a total value of $4,256,000.00. Following the completion of the transaction, the executive vice president now directly owns 225,935 shares in the company, valued at $17,171,060. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Brian J. Blaser sold 450,062 shares of Abbott Laboratories stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $75.52, for a total value of $33,988,682.24. Following the completion of the transaction, the insider now owns 295,745 shares of the company’s stock, valued at $22,334,662.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,199,910 shares of company stock worth $93,837,075. Corporate insiders own 0.70% of the company’s stock.

Shares of ABT traded up $2.00 during mid-day trading on Thursday, hitting $87.76. The stock had a trading volume of 6,816,050 shares, compared to its average volume of 5,739,426. The company has a market capitalization of $146.71 billion, a price-to-earnings ratio of 30.47, a P/E/G ratio of 2.34 and a beta of 1.10. The stock’s fifty day moving average price is $82.71. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.13 and a current ratio of 1.58. Abbott Laboratories has a 52 week low of $62.87 and a 52 week high of $87.84.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, July 17th. The healthcare product maker reported $0.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.02. The firm had revenue of $7.98 billion for the quarter, compared to analyst estimates of $8 billion. Abbott Laboratories had a return on equity of 16.86% and a net margin of 8.53%. The business’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.73 earnings per share. As a group, research analysts predict that Abbott Laboratories will post 3.22 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, July 12th. This represents a $1.28 annualized dividend and a dividend yield of 1.46%. Abbott Laboratories’s payout ratio is presently 44.44%.

A number of research analysts have recently weighed in on ABT shares. Royal Bank of Canada raised their target price on Alimentation Couche-Tard from C$85.00 to C$88.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Wells Fargo & Co reiterated a “hold” rating on shares of Medidata Solutions in a report on Thursday, June 13th. Cowen reiterated a “buy” rating and set a $184.00 price target on shares of Union Pacific in a report on Thursday. Jefferies Financial Group reiterated a “hold” rating and set a $230.00 price target (up from $210.00) on shares of WEX in a report on Thursday. Finally, Zacks Investment Research lowered Home Bancshares from a “hold” rating to a “sell” rating in a report on Friday, June 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $85.01.

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.

See Also: Front-End Load

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

Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.