Pinebridge Investments L.P. Has $21.09 Million Holdings in Abbott Laboratories (NYSE:ABT)

Pinebridge Investments L.P. cut its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 60.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 186,430 shares of the healthcare product maker's stock after selling 283,443 shares during the quarter. Pinebridge Investments L.P.'s holdings in Abbott Laboratories were worth $21,087,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in Abbott Laboratories in the 4th quarter worth approximately $2,373,461,000. Raymond James Financial Inc. acquired a new position in shares of Abbott Laboratories in the 4th quarter valued at $635,056,000. Capital International Investors grew 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 valued at $7,688,160,000 after buying an additional 2,229,026 shares during the period. Invesco Ltd. increased its holdings in shares of Abbott Laboratories by 27.6% during the 4th quarter. Invesco Ltd. now owns 9,018,429 shares of the healthcare product maker's stock worth $1,020,074,000 after buying an additional 1,948,329 shares during the last quarter. Finally, APG Asset Management N.V. boosted its holdings in Abbott Laboratories by 1,480.2% in the fourth quarter. APG Asset Management N.V. now owns 1,551,626 shares of the healthcare product maker's stock valued at $169,488,000 after acquiring an additional 1,453,436 shares during the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Down 0.4 %

Shares of NYSE:ABT traded down $0.49 during trading on Friday, reaching $128.90. 4,849,055 shares of the company traded hands, compared to its average volume of 6,073,198. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $141.23. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32. The firm has a market cap of $223.55 billion, a P/E ratio of 16.85, a price-to-earnings-growth ratio of 2.52 and a beta of 0.80. The firm has a fifty day simple moving average of $130.54 and a 200 day simple moving average of $122.46.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued 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. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The company had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.38 billion. Analysts anticipate 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 Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend is Tuesday, April 15th. Abbott Laboratories's payout ratio is 30.61%.

Insider Buying and Selling at Abbott Laboratories

In other news, EVP Andrea F. Wainer sold 949 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 value of $131,123.33. Following the transaction, the executive vice president now directly owns 74,381 shares in the company, valued at approximately $10,277,222.77. The trade was a 1.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the firm's stock in a transaction on 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 sale, the executive vice president now owns 125,697 shares in the company, valued at approximately $16,152,064.50. The trade was a 15.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 116,449 shares of company stock worth $15,463,316 over the last three months. Corporate insiders own 0.46% of the company's stock.

Wall Street Analysts Forecast Growth

ABT has been the topic of several research reports. Wells Fargo & Company raised their price objective on Abbott Laboratories from $136.00 to $147.00 and gave the company an "overweight" rating in a research report on Thursday, April 17th. StockNews.com lowered Abbott Laboratories from a "strong-buy" rating to a "buy" rating in a report on Wednesday, February 12th. Barclays raised their price target on shares of Abbott Laboratories from $158.00 to $159.00 and gave the stock an "overweight" rating in a research report on Thursday, April 17th. Jefferies Financial Group boosted their price objective on Abbott Laboratories from $135.00 to $137.00 and gave the company a "hold" rating in a research report on Thursday, April 17th. Finally, Morgan Stanley raised their price target on shares of Abbott Laboratories from $117.00 to $127.00 and gave the company an "equal weight" rating in a research note on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $142.59.

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.