Cullinan Associates Inc. Sells 4,800 Shares of Abbott Laboratories (NYSE:ABT)

Cullinan Associates Inc. cut its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 11.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,994 shares of the healthcare product maker's stock after selling 4,800 shares during the period. Cullinan Associates Inc.'s holdings in Abbott Laboratories were worth $4,411,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp raised its position in shares of Abbott Laboratories by 3.1% during the 3rd quarter. State Street Corp now owns 76,720,429 shares of the healthcare product maker's stock worth $8,746,896,000 after purchasing an additional 2,323,807 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Abbott Laboratories by 1.4% in the third quarter. Geode Capital Management LLC now owns 34,903,198 shares of the healthcare product maker's stock worth $3,963,974,000 after acquiring an additional 488,764 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Abbott Laboratories by 1.1% during the third quarter. Wellington Management Group LLP now owns 25,810,977 shares of the healthcare product maker's stock valued at $2,942,709,000 after acquiring an additional 280,441 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Abbott Laboratories by 25.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker's stock worth $1,518,539,000 after purchasing an additional 2,711,586 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in Abbott Laboratories by 5.6% in the 3rd quarter. Fisher Asset Management LLC now owns 11,102,204 shares of the healthcare product maker's stock valued at $1,265,762,000 after purchasing an additional 585,915 shares in the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Stock Up 2.0 %

NYSE ABT traded up $2.64 on Wednesday, reaching $131.74. The stock had a trading volume of 3,804,378 shares, compared to its average volume of 7,029,478. Abbott Laboratories has a 1 year low of $99.71 and a 1 year high of $131.90. The business has a 50 day moving average price of $116.80 and a 200 day moving average price of $114.71. 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 $228.50 billion, a price-to-earnings ratio of 17.22, a P/E/G ratio of 2.39 and a beta of 0.74.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, meeting analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $11.03 billion. During the same quarter last year, the firm posted $1.19 earnings per share. The company's quarterly revenue was up 7.2% compared to the same quarter last year. On average, analysts forecast that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a dividend of $0.59 per share. This is an increase from Abbott Laboratories's previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend is Wednesday, January 15th. Abbott Laboratories's dividend payout ratio (DPR) is currently 30.85%.

Insiders Place Their Bets

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of Abbott Laboratories stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $128.50, for a total value of $3,054,573.50. Following the completion of the sale, the executive vice president now directly owns 125,697 shares in the company, valued at $16,152,064.50. This trade represents a 15.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ABT. Oppenheimer initiated coverage on Abbott Laboratories in a report on Tuesday, October 8th. They issued an "outperform" rating and a $130.00 price target for the company. Morgan Stanley increased their target price on Abbott Laboratories from $107.00 to $117.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 17th. StockNews.com raised shares of Abbott Laboratories from a "buy" rating to a "strong-buy" rating in a research note on Tuesday. Evercore ISI raised their target price on shares of Abbott Laboratories to $136.00 and gave the stock a "buy" rating in a research report on Thursday, January 2nd. Finally, Raymond James reaffirmed a "buy" rating and set a $129.00 price target (up previously from $122.00) on shares of Abbott Laboratories in a research note on Monday, October 14th. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $133.06.

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.