Abbott Laboratories (NYSE:ABT) Stock Holdings Decreased by Connors Investor Services Inc.

Connors Investor Services Inc. reduced its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 1.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 158,516 shares of the healthcare product maker's stock after selling 1,969 shares during the quarter. Abbott Laboratories makes up approximately 1.7% of Connors Investor Services Inc.'s portfolio, making the stock its 15th largest position. Connors Investor Services Inc.'s holdings in Abbott Laboratories were worth $17,930,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank bought a new position in shares of Abbott Laboratories in the fourth quarter valued at approximately $2,373,461,000. T. Rowe Price Investment Management Inc. increased its position in shares of Abbott Laboratories by 383.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,358,698 shares of the healthcare product maker's stock valued at $945,453,000 after purchasing an additional 6,628,310 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Abbott Laboratories in the fourth quarter valued at $635,056,000. Capital International Investors boosted its stake in Abbott Laboratories by 3.4% during the fourth quarter. Capital International Investors now owns 67,972,953 shares of the healthcare product maker's stock worth $7,688,160,000 after buying an additional 2,229,026 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Abbott Laboratories by 10.3% in the 4th quarter. Northern Trust Corp now owns 22,056,860 shares of the healthcare product maker's stock valued at $2,494,851,000 after buying an additional 2,060,650 shares during the period. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $130.55 on Wednesday. The company has a market cap of $226.42 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 2.52 and a beta of 0.80. The stock has a fifty day moving average price of $130.44 and a 200-day moving average price of $122.65. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $141.23. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 EPS for the quarter, beating the consensus estimate of $1.07 by $0.02. The company had revenue of $10.36 billion during the quarter, compared to analysts' expectations of $10.38 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. As a group, equities analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend is Tuesday, April 15th. Abbott Laboratories's dividend payout ratio is presently 30.61%.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the firm's stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the completion of the transaction, the executive vice president now owns 125,697 shares in the company, valued at approximately $16,152,064.50. This trade represents a 15.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Andrea F. Wainer sold 949 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $138.17, for a total transaction of $131,123.33. Following the completion of the transaction, the executive vice president now owns 74,381 shares in the company, valued at approximately $10,277,222.77. The trade was a 1.26 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 116,449 shares of company stock valued at $15,463,316. 0.46% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Raymond James upped their price objective on shares of Abbott Laboratories from $132.00 to $142.00 and gave the stock an "outperform" rating in a research note on Thursday, April 17th. Citigroup upped their price target on shares of Abbott Laboratories from $135.00 to $160.00 and gave the stock a "buy" rating in a research report on Tuesday, March 4th. Barclays increased their price target on shares of Abbott Laboratories from $158.00 to $159.00 and gave the company an "overweight" rating in a research note on Thursday, April 17th. UBS Group increased their price objective on Abbott Laboratories from $146.00 to $148.00 and gave the company a "buy" rating in a research report on Thursday, January 23rd. Finally, The Goldman Sachs Group raised their target price on shares of Abbott Laboratories from $138.00 to $154.00 and gave the company a "buy" rating in a research note on Tuesday, March 4th. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $142.59.

Abbott Laboratories Profile

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.

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