DSM Capital Partners LLC Trims Holdings in Abbott Laboratories (NYSE:ABT)

DSM Capital Partners LLC decreased its holdings in Abbott Laboratories (NYSE:ABT) by 0.6% in the 1st quarter, Holdings Channel reports. The firm owned 854,111 shares of the healthcare product maker’s stock after selling 5,293 shares during the period. Abbott Laboratories accounts for about 2.0% of DSM Capital Partners LLC’s investment portfolio, making the stock its 19th biggest holding. DSM Capital Partners LLC’s holdings in Abbott Laboratories were worth $113,298,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hughes Financial Services LLC purchased a new position in Abbott Laboratories during the 1st quarter worth $27,000. Abound Financial LLC purchased a new position in Abbott Laboratories during the 1st quarter worth $28,000. Wormser Freres Gestion purchased a new position in Abbott Laboratories during the 4th quarter worth $32,000. JCIC Asset Management Inc. purchased a new position in Abbott Laboratories during the 1st quarter worth $32,000. Finally, Vision Financial Markets LLC purchased a new position in Abbott Laboratories during the 1st quarter worth $33,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Trading Down 1.2%

Shares of ABT stock opened at $129.39 on Thursday. The firm has a market cap of $225.20 billion, a P/E ratio of 16.21, a PEG ratio of 2.48 and a beta of 0.70. Abbott Laboratories has a 1-year low of $107.71 and a 1-year high of $141.23. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. The firm’s 50-day simple moving average is $131.52 and its 200-day simple moving average is $131.15.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, meeting the consensus estimate of $1.26. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The firm had revenue of $11.14 billion for the quarter, compared to analyst estimates of $11.01 billion. During the same quarter last year, the firm posted $1.14 earnings per share. Abbott Laboratories’s revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, equities analysts forecast that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be issued a $0.59 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $2.36 annualized dividend and a yield of 1.8%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 29.57%.

Insider Buying and Selling

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $134.55, for a total value of $746,752.50. Following the completion of the sale, the chief financial officer owned 51,003 shares of the company’s stock, valued at $6,862,453.65. This trade represents a 9.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Raymond James Financial lowered their price target on shares of Abbott Laboratories from $142.00 to $141.00 and set an “outperform” rating on the stock in a research note on Friday, July 18th. Evercore ISI upped their price target on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 8th. Royal Bank Of Canada upped their price target on shares of Abbott Laboratories from $145.00 to $147.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 15th. Jefferies Financial Group raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and upped their price target for the stock from $143.00 to $145.00 in a research note on Friday, July 18th. Finally, BTIG Research lowered their price objective on shares of Abbott Laboratories from $148.00 to $145.00 and set a “buy” rating on the stock in a research note on Friday, July 18th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus price target of $144.47.

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.