Foundations Investment Advisors LLC Sells 3,064 Shares of Abbott Laboratories (NYSE:ABT)

Foundations Investment Advisors LLC cut its holdings in Abbott Laboratories (NYSE:ABTGet Rating) by 35.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,671 shares of the healthcare product maker’s stock after selling 3,064 shares during the period. Foundations Investment Advisors LLC’s holdings in Abbott Laboratories were worth $616,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Abbott Laboratories by 1.4% in the first quarter. Vanguard Group Inc. now owns 151,288,441 shares of the healthcare product maker’s stock worth $17,906,500,000 after acquiring an additional 2,136,177 shares during the period. BlackRock Inc. raised its position in shares of Abbott Laboratories by 2.1% during the 4th quarter. BlackRock Inc. now owns 137,155,602 shares of the healthcare product maker’s stock valued at $19,303,283,000 after purchasing an additional 2,836,966 shares during the period. State Street Corp raised its position in shares of Abbott Laboratories by 2.6% during the 4th quarter. State Street Corp now owns 74,322,051 shares of the healthcare product maker’s stock valued at $10,460,085,000 after purchasing an additional 1,896,462 shares during the period. Norges Bank bought a new stake in shares of Abbott Laboratories during the 4th quarter valued at $2,290,723,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Abbott Laboratories by 1.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 11,523,473 shares of the healthcare product maker’s stock valued at $1,363,917,000 after purchasing an additional 218,683 shares during the period. 73.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Joseph J. Manning sold 23,008 shares of Abbott Laboratories stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $107.00, for a total transaction of $2,461,856.00. Following the completion of the transaction, the executive vice president now directly owns 53,245 shares of the company’s stock, valued at approximately $5,697,215. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Joseph J. Manning sold 23,008 shares of Abbott Laboratories stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $107.00, for a total transaction of $2,461,856.00. Following the completion of the sale, the executive vice president now owns 53,245 shares in the company, valued at approximately $5,697,215. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Joseph J. Manning sold 26,898 shares of Abbott Laboratories stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $105.03, for a total transaction of $2,825,096.94. Following the sale, the executive vice president now owns 53,245 shares of the company’s stock, valued at approximately $5,592,322.35. The disclosure for this sale can be found here. In the last ninety days, insiders sold 204,788 shares of company stock valued at $21,776,756. Company insiders own 0.52% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Erste Group Bank downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Thursday, August 25th. BTIG Research decreased their price objective on shares of Abbott Laboratories from $130.00 to $126.00 and set a “buy” rating on the stock in a research report on Monday, July 18th. Evercore ISI decreased their price objective on shares of Abbott Laboratories to $112.00 in a research report on Friday, July 22nd. Citigroup cut their target price on shares of Abbott Laboratories from $125.00 to $123.00 and set a “buy” rating for the company in a research note on Thursday, July 21st. Finally, UBS Group cut their target price on shares of Abbott Laboratories from $142.00 to $128.00 and set a “buy” rating for the company in a research note on Wednesday, July 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $132.46.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT opened at $104.00 on Friday. Abbott Laboratories has a 52 week low of $101.21 and a 52 week high of $142.60. The stock has a market capitalization of $182.13 billion, a P/E ratio of 21.71, a PEG ratio of 3.89 and a beta of 0.72. The firm has a fifty day simple moving average of $107.52 and a two-hundred day simple moving average of $112.18. The company has a quick ratio of 1.54, a current ratio of 2.01 and a debt-to-equity ratio of 0.46.

Abbott Laboratories (NYSE:ABTGet Rating) last issued its quarterly earnings data on Wednesday, July 20th. The healthcare product maker reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.34. Abbott Laboratories had a net margin of 18.78% and a return on equity of 29.38%. The business had revenue of $11.26 billion during the quarter, compared to analysts’ expectations of $10.37 billion. During the same period last year, the company posted $1.17 EPS. The business’s revenue was up 10.1% on a year-over-year basis. On average, analysts expect that Abbott Laboratories will post 4.99 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Friday, October 14th will be paid a dividend of $0.47 per share. The ex-dividend date is Thursday, October 13th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.81%. Abbott Laboratories’s dividend payout ratio is presently 39.25%.

About Abbott Laboratories

(Get Rating)

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 Established Pharmaceutical Products segment 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.

See Also

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

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