Arrowstreet Capital Limited Partnership Has $26.03 Million Holdings in Abbott Laboratories (NYSE:ABT)

Arrowstreet Capital Limited Partnership cut its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 90.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 230,128 shares of the healthcare product maker's stock after selling 2,300,073 shares during the period. Arrowstreet Capital Limited Partnership's holdings in Abbott Laboratories were worth $26,030,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cape Investment Advisory Inc. raised its stake in Abbott Laboratories by 6.6% in the fourth quarter. Cape Investment Advisory Inc. now owns 1,236 shares of the healthcare product maker's stock valued at $140,000 after buying an additional 76 shares during the period. Cyrus J. Lawrence LLC increased its holdings in shares of Abbott Laboratories by 9.0% during the 4th quarter. Cyrus J. Lawrence LLC now owns 954 shares of the healthcare product maker's stock worth $107,000 after acquiring an additional 79 shares during the last quarter. LMG Wealth Partners LLC lifted its holdings in Abbott Laboratories by 3.8% during the 4th quarter. LMG Wealth Partners LLC now owns 2,161 shares of the healthcare product maker's stock valued at $244,000 after purchasing an additional 80 shares during the last quarter. Jacobson & Schmitt Advisors LLC boosted its position in Abbott Laboratories by 2.9% during the fourth quarter. Jacobson & Schmitt Advisors LLC now owns 2,827 shares of the healthcare product maker's stock worth $320,000 after purchasing an additional 80 shares during the period. Finally, Glass Wealth Management Co LLC increased its holdings in shares of Abbott Laboratories by 3.2% in the fourth quarter. Glass Wealth Management Co LLC now owns 2,640 shares of the healthcare product maker's stock valued at $299,000 after purchasing an additional 81 shares during the last quarter. 75.18% of the stock is owned by institutional investors.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, SVP Eric Shroff sold 562 shares of Abbott Laboratories stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $138.17, for a total transaction of $77,651.54. Following the transaction, the senior vice president now directly owns 31,970 shares of the company's stock, valued at approximately $4,417,294.90. The trade was a 1.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lisa D. Earnhardt sold 91,167 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $133.82, for a total value of $12,199,967.94. Following the completion of the sale, the executive vice president now directly owns 71,928 shares of the company's stock, valued at approximately $9,625,404.96. The trade was a 55.90 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 116,449 shares of company stock worth $15,463,316. Insiders own 0.46% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on ABT shares. The Goldman Sachs Group upped their price objective on Abbott Laboratories from $138.00 to $154.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Citigroup upped their price target on shares of Abbott Laboratories from $135.00 to $160.00 and gave the company a "buy" rating in a research note on Tuesday, March 4th. StockNews.com cut shares of Abbott Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 12th. Argus upgraded shares of Abbott Laboratories to a "strong-buy" rating in a research report on Tuesday, January 28th. Finally, Evercore ISI lifted their price target on shares of Abbott Laboratories to $136.00 and gave the company a "buy" rating in a research report on Thursday, January 2nd. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Abbott Laboratories has a consensus rating of "Moderate Buy" and a consensus price target of $137.94.

Abbott Laboratories Price Performance

Shares of ABT traded down $1.23 during mid-day trading on Tuesday, reaching $123.63. The company had a trading volume of 9,876,861 shares, compared to its average volume of 5,939,179. The company has a market capitalization of $214.41 billion, a price-to-earnings ratio of 16.16, a P/E/G ratio of 2.52 and a beta of 0.80. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.60. The company's 50 day simple moving average is $130.93 and its 200 day simple moving average is $121.04. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, meeting analysts' consensus estimates of $1.34. The firm had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11.03 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The company's quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the business posted $1.19 earnings per share. Analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

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 given a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $2.36 annualized dividend and a yield of 1.91%. Abbott Laboratories's dividend payout ratio is presently 30.85%.

Abbott Laboratories Company 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.