Keybank National Association OH Lowers Stock Holdings in Abbott Laboratories (NYSE:ABT)

Keybank National Association OH cut its holdings in Abbott Laboratories (NYSE:ABT) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 974,064 shares of the healthcare product maker’s stock after selling 9,964 shares during the quarter. Keybank National Association OH owned 0.06% of Abbott Laboratories worth $110,176,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of ABT. Alley Investment Management Company LLC boosted its position in Abbott Laboratories by 2.9% during the fourth quarter. Alley Investment Management Company LLC now owns 142,327 shares of the healthcare product maker’s stock worth $16,099,000 after purchasing an additional 4,046 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Abbott Laboratories by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,940,321 shares of the healthcare product maker’s stock worth $1,463,680,000 after acquiring an additional 330,844 shares during the last quarter. Steward Partners Investment Advisory LLC increased its stake in Abbott Laboratories by 8.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 144,900 shares of the healthcare product maker’s stock valued at $16,390,000 after purchasing an additional 11,784 shares during the last quarter. Unified Investment Management acquired a new position in Abbott Laboratories in the fourth quarter valued at $368,000. Finally, Gryphon Financial Partners LLC increased its stake in Abbott Laboratories by 0.6% during the fourth quarter. Gryphon Financial Partners LLC now owns 114,556 shares of the healthcare product maker’s stock worth $12,957,000 after acquiring an additional 680 shares during the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Evercore ISI upped their price target on Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. UBS Group raised their target price on Abbott Laboratories from $146.00 to $148.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. StockNews.com lowered Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Barclays reissued an “overweight” rating and set a $158.00 price objective (up from $149.00) on shares of Abbott Laboratories in a research note on Monday, January 27th. Finally, Wells Fargo & Company raised their target price on Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $133.06.

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock opened at $140.13 on Tuesday. The firm has a fifty day moving average of $123.59 and a two-hundred day moving average of $118.10. The stock has a market capitalization of $243.03 billion, a price-to-earnings ratio of 18.32, a PEG ratio of 2.52 and a beta of 0.75. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $141.00. 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) last announced its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.34. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The company had revenue of $10.97 billion during the quarter, compared to analyst estimates of $11.03 billion. During the same quarter in the previous year, the business earned $1.19 EPS. The firm’s revenue was up 7.2% on a year-over-year basis. As a group, equities research analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Tuesday, April 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 30.85%.

Insiders Place Their Bets

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the stock in a transaction dated Thursday, January 30th. The stock was 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 represents a 15.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate 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.