Redmile Group LLC Sells 3,129 Shares of Abbott Laboratories (NYSE:ABT)

Redmile Group LLC decreased its position in shares of Abbott Laboratories (NYSE:ABT) by 1.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 262,371 shares of the healthcare product maker’s stock after selling 3,129 shares during the quarter. Redmile Group LLC’s holdings in Abbott Laboratories were worth $29,821,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Signature Resources Capital Management LLC bought a new position in shares of Abbott Laboratories in the 4th quarter worth about $29,000. Transcendent Capital Group LLC bought a new stake in Abbott Laboratories in the 4th quarter worth about $29,000. Richardson Financial Services Inc. purchased a new stake in shares of Abbott Laboratories during the fourth quarter valued at approximately $29,000. Redmont Wealth Advisors LLC bought a new stake in shares of Abbott Laboratories during the 1st quarter worth $30,000. Finally, True Wealth Design LLC boosted its stake in Abbott Laboratories by 1,677.8% in the fourth quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock valued at $35,000 after acquiring an additional 302 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 0.4 %

Shares of NYSE:ABT traded down $0.46 during trading on Monday, reaching $104.78. 19,451,661 shares of the stock traded hands, compared to its average volume of 5,967,187. The stock has a market cap of $182.28 billion, a P/E ratio of 32.64, a price-to-earnings-growth ratio of 2.62 and a beta of 0.72. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.11 and a current ratio of 1.60. The stock has a 50-day moving average of $103.89 and a two-hundred day moving average of $109.16. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 EPS for the quarter, beating the consensus estimate of $1.10 by $0.04. Abbott Laboratories had a return on equity of 20.32% and a net margin of 13.65%. The business had revenue of $10.38 billion for the quarter, compared to the consensus estimate of $10.37 billion. During the same period last year, the business posted $1.08 EPS. The company’s revenue was up 4.0% compared to the same quarter last year. As a group, sell-side analysts expect that Abbott Laboratories will post 4.66 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.10%. The ex-dividend date is Monday, July 15th. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Royal Bank of Canada restated an “outperform” rating and issued a $125.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, June 4th. Citigroup reduced their price objective on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. Barclays boosted their price target on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a research note on Monday. Raymond James reiterated a “buy” rating and issued a $124.00 price objective on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Finally, Evercore ISI cut their target price on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $121.00.

Insider Buying and Selling at Abbott Laboratories

In other news, EVP Lisa D. Earnhardt sold 22,852 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $106.25, for a total value of $2,428,025.00. Following the transaction, the executive vice president now directly owns 61,462 shares in the company, valued at approximately $6,530,337.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Lisa D. Earnhardt sold 22,852 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $106.25, for a total value of $2,428,025.00. Following the transaction, the executive vice president now owns 61,462 shares in the company, valued at approximately $6,530,337.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jr. Robert E. Funck sold 10,097 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $104.57, for a total transaction of $1,055,843.29. Following the completion of the transaction, the executive vice president now owns 211,341 shares in the company, valued at $22,099,928.37. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

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.