Rockefeller Capital Management L.P. Has $89.90 Million Stake in Abbott Laboratories (NYSE:ABT)

Rockefeller Capital Management L.P. grew its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 19.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 794,752 shares of the healthcare product maker's stock after acquiring an additional 129,495 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in Abbott Laboratories were worth $89,895,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Abbott Laboratories by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 168,645,397 shares of the healthcare product maker's stock worth $19,075,481,000 after purchasing an additional 739,260 shares during the period. Geode Capital Management LLC increased its position in shares of Abbott Laboratories by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 35,668,834 shares of the healthcare product maker's stock valued at $4,023,027,000 after buying an additional 765,636 shares in the last quarter. Wellington Management Group LLP raised its stake in Abbott Laboratories by 2.3% during the 4th quarter. Wellington Management Group LLP now owns 26,392,302 shares of the healthcare product maker's stock worth $2,985,233,000 after buying an additional 581,325 shares during the period. Norges Bank acquired a new position in Abbott Laboratories in the fourth quarter valued at about $2,373,461,000. Finally, Charles Schwab Investment Management Inc. increased 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 in the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Insider Activity

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the business's 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 transaction, the executive vice president now owns 125,697 shares of the company's stock, valued at $16,152,064.50. The trade was a 15.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Lisa D. Earnhardt sold 91,167 shares of the firm's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $133.82, for a total transaction of $12,199,967.94. Following the completion of the transaction, the executive vice president now directly owns 71,928 shares in the company, valued at approximately $9,625,404.96. This represents a 55.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 116,449 shares of company stock worth $15,463,316. Corporate insiders own 0.46% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ABT. Barclays reissued an "overweight" rating and set a $158.00 target price (up from $149.00) on shares of Abbott Laboratories in a research note on Monday, January 27th. Wells Fargo & Company raised their price objective on shares of Abbott Laboratories from $133.00 to $136.00 and gave the stock an "overweight" rating in a report on Thursday, January 23rd. UBS Group upped their target price on shares of Abbott Laboratories from $146.00 to $148.00 and gave the stock a "buy" rating in a research note on Thursday, January 23rd. The Goldman Sachs Group lifted their price target on Abbott Laboratories from $138.00 to $154.00 and gave the company a "buy" rating in a research note on Tuesday, March 4th. Finally, Argus raised Abbott Laboratories to a "strong-buy" rating in a research report on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Abbott Laboratories has an average rating of "Moderate Buy" and a consensus target price of $137.94.

Abbott Laboratories Stock Performance

Shares of NYSE ABT traded down $1.88 during mid-day trading on Tuesday, reaching $126.08. 8,635,648 shares of the company were exchanged, compared to its average volume of 6,031,179. The company's 50-day simple moving average is $130.67 and its 200-day simple moving average is $121.51. 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 stock has a market capitalization of $218.67 billion, a P/E ratio of 16.48, a P/E/G ratio of 2.52 and a beta of 0.80. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released 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 return on equity of 20.74% and a net margin of 31.95%. The business had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $11.03 billion. During the same period in the previous year, the company posted $1.19 EPS. The firm's quarterly revenue was up 7.2% on a year-over-year basis. As a group, research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a dividend of $0.59 per share. The ex-dividend date is Tuesday, April 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.87%. 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.