Sector Gamma AS Sells 150,000 Shares of Abbott Laboratories (NYSE:ABT)

Sector Gamma AS decreased its stake in Abbott Laboratories (NYSE:ABT) by 21.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 537,260 shares of the healthcare product maker’s stock after selling 150,000 shares during the quarter. Abbott Laboratories makes up about 7.6% of Sector Gamma AS’s investment portfolio, making the stock its 3rd largest position. Sector Gamma AS’s holdings in Abbott Laboratories were worth $44,953,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. McIlrath & Eck LLC boosted its stake in Abbott Laboratories by 40.1% in the third quarter. McIlrath & Eck LLC now owns 1,769 shares of the healthcare product maker’s stock worth $148,000 after purchasing an additional 506 shares in the last quarter. Swaine & Leidel Wealth Services LLC raised its position in shares of Abbott Laboratories by 28.1% during the third quarter. Swaine & Leidel Wealth Services LLC now owns 5,745 shares of the healthcare product maker’s stock worth $2,560,000 after acquiring an additional 1,261 shares during the last quarter. Arthur M. Cohen & Associates LLC raised its position in shares of Abbott Laboratories by 11.6% during the third quarter. Arthur M. Cohen & Associates LLC now owns 6,753 shares of the healthcare product maker’s stock worth $565,000 after acquiring an additional 700 shares during the last quarter. Lakeview Capital Partners LLC raised its position in shares of Abbott Laboratories by 5.4% during the third quarter. Lakeview Capital Partners LLC now owns 7,425 shares of the healthcare product maker’s stock worth $621,000 after acquiring an additional 380 shares during the last quarter. Finally, Montag A & Associates Inc. raised its position in shares of Abbott Laboratories by 16.8% during the third quarter. Montag A & Associates Inc. now owns 125,252 shares of the healthcare product maker’s stock worth $10,480,000 after acquiring an additional 18,040 shares during the last quarter. 73.77% of the stock is currently owned by institutional investors and hedge funds.

In other Abbott Laboratories news, SVP Randel William Woodgrift sold 21,000 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $80.54, for a total value of $1,691,340.00. Following the completion of the transaction, the senior vice president now directly owns 68,562 shares of the company’s stock, valued at $5,521,983.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Joseph J. Manning sold 47,226 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $85.14, for a total value of $4,020,821.64. Following the completion of the transaction, the senior vice president now directly owns 97,755 shares of the company’s stock, valued at $8,322,860.70. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by insiders.

NYSE ABT traded up $0.35 on Friday, reaching $83.74. The company had a trading volume of 3,388,511 shares, compared to its average volume of 5,339,424. The stock’s 50 day moving average is $82.03 and its 200-day moving average is $82.26. The stock has a market cap of $145.61 billion, a price-to-earnings ratio of 29.08, a PEG ratio of 2.38 and a beta of 1.13. The company has a quick ratio of 1.12, a current ratio of 1.54 and a debt-to-equity ratio of 0.55. Abbott Laboratories has a 52 week low of $65.44 and a 52 week high of $88.76.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $0.84 EPS for the quarter, meeting analysts’ consensus estimates of $0.84. The business had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $8.10 billion. Abbott Laboratories had a return on equity of 17.65% and a net margin of 10.50%. The firm’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.75 earnings per share. As a group, analysts forecast that Abbott Laboratories will post 3.25 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.28 dividend on an annualized basis and a yield of 1.53%. Abbott Laboratories’s payout ratio is 44.44%.

A number of equities research analysts have recently weighed in on the company. ValuEngine downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Jefferies Financial Group boosted their target price on Abbott Laboratories from $80.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Morgan Stanley boosted their target price on Abbott Laboratories from $85.00 to $93.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Zacks Investment Research downgraded Abbott Laboratories from a “buy” rating to a “hold” rating and set a $93.00 target price for the company. in a research report on Wednesday, August 21st. Finally, Credit Suisse Group boosted their target price on Abbott Laboratories from $95.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $87.61.

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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