Abbott Laboratories (NYSE:ABT) Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC cut its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 53.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,376 shares of the healthcare product maker's stock after selling 15,555 shares during the period. Lazard Asset Management LLC's holdings in Abbott Laboratories were worth $1,512,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in ABT. Norges Bank purchased a new position in Abbott Laboratories in the fourth quarter valued at about $2,373,461,000. T. Rowe Price Investment Management Inc. increased its holdings in Abbott Laboratories by 383.1% in 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 buying an additional 6,628,310 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Abbott Laboratories during the 4th quarter worth approximately $635,056,000. Capital International Investors increased its stake in shares of Abbott Laboratories by 3.4% during the 4th quarter. Capital International Investors now owns 67,972,953 shares of the healthcare product maker's stock worth $7,688,160,000 after purchasing an additional 2,229,026 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Abbott Laboratories by 10.3% during the 4th quarter. Northern Trust Corp now owns 22,056,860 shares of the healthcare product maker's stock worth $2,494,851,000 after purchasing an additional 2,060,650 shares in the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Down 0.1%

ABT stock traded down $0.10 during trading on Friday, reaching $131.40. The stock had a trading volume of 2,788,947 shares, compared to its average volume of 6,121,835. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $141.23. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $228.62 billion, a P/E ratio of 17.17, a PEG ratio of 2.52 and a beta of 0.74. The firm has a fifty day moving average price of $129.77 and a 200 day moving average price of $124.52.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its 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. The company had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.38 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. On average, equities analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on ABT. The Goldman Sachs Group lifted their target price on shares of Abbott Laboratories from $138.00 to $154.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. Morgan Stanley lifted their target price 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 lifted their target price on shares of Abbott Laboratories from $135.00 to $160.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. Stifel Nicolaus lifted their target price on shares of Abbott Laboratories from $135.00 to $145.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Finally, Royal Bank of Canada lifted their price target on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a report on Thursday, April 17th. Four equities research 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $142.59.

Insider Transactions at Abbott Laboratories

In related news, SVP Eric Shroff sold 562 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $138.17, for a total transaction of $77,651.54. Following the completion of the sale, the senior vice president now owns 31,970 shares of the company's stock, valued at $4,417,294.90. This represents a 1.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sally E. Blount sold 2,600 shares of the business's stock in a transaction dated 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 directly owns 34,058 shares of the company's stock, valued at approximately $4,415,960.28. This represents a 7.09% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 95,278 shares of company stock valued at $12,745,859. Insiders own 0.46% 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.