Bessemer Group Inc. Lowers Stock Holdings in Abbott Laboratories (NYSE:ABT)

Bessemer Group Inc. lowered its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 8.0% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,185,096 shares of the healthcare product maker's stock after selling 103,183 shares during the period. Bessemer Group Inc. owned about 0.07% of Abbott Laboratories worth $157,202,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of ABT. Three Seasons Wealth LLC bought a new position in Abbott Laboratories in the 4th quarter valued at approximately $1,428,000. Kelly Financial Services LLC acquired a new position in Abbott Laboratories during the 1st quarter worth about $216,000. Voleon Capital Management LP acquired a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $273,000. Bank Julius Baer & Co. Ltd Zurich raised its position in shares of Abbott Laboratories by 5.5% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,095,443 shares of the healthcare product maker's stock worth $133,691,000 after acquiring an additional 57,499 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG boosted its stake in shares of Abbott Laboratories by 1.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock valued at $17,274,000 after purchasing an additional 2,774 shares during the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on ABT. Leerink Partners assumed coverage on shares of Abbott Laboratories in a report on Monday, June 16th. They issued a "market perform" rating and a $143.00 price target for the company. Leerink Partnrs upgraded Abbott Laboratories to a "hold" rating in a research note on Monday, June 16th. Morgan Stanley raised their price target on shares of Abbott Laboratories from $117.00 to $127.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 17th. Citigroup upped their price objective on shares of Abbott Laboratories from $135.00 to $160.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Finally, Wells Fargo & Company increased their target price on Abbott Laboratories from $136.00 to $147.00 and gave the stock an "overweight" rating in a research report on Thursday, April 17th. Six analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Abbott Laboratories currently has a consensus rating of "Moderate Buy" and an average price target of $142.61.

Abbott Laboratories Stock Performance

Abbott Laboratories stock traded down $3.67 during mid-day trading on Thursday, reaching $133.73. 9,442,414 shares of the company traded hands, compared to its average volume of 6,136,879. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $141.23. The firm's fifty day moving average is $132.69 and its two-hundred day moving average is $127.30. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.78 and a quick ratio of 1.27. The company has a market capitalization of $232.67 billion, a price-to-earnings ratio of 17.34, a price-to-earnings-growth ratio of 2.61 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The healthcare product maker reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.02. Abbott Laboratories had a net margin of 31.89% and a return on equity of 19.01%. The company had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.38 billion. On average, equities research analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, July 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.76%. Abbott Laboratories's dividend payout ratio is presently 30.61%.

Insider Buying and Selling at Abbott Laboratories

In other news, Director Sally E. Blount sold 2,600 shares of the firm's stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $129.66, for a total transaction of $337,116.00. Following the sale, the director now owns 34,058 shares of the company's stock, valued at $4,415,960.28. This trade represents a 7.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.46% of the company's stock.

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.