Mackenzie Financial Corp reduced its position in Abbott Laboratories (NYSE:ABT) by 5.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,163 shares of the healthcare product maker’s stock after selling 1,146 shares during the quarter. Mackenzie Financial Corp’s holdings in Abbott Laboratories were worth $1,531,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Tuttle Tactical Management raised its stake in Abbott Laboratories by 1.5% during the fourth quarter. Tuttle Tactical Management now owns 10,353 shares of the healthcare product maker’s stock worth $749,000 after acquiring an additional 153 shares in the last quarter. NewSquare Capital LLC raised its stake in Abbott Laboratories by 14.2% during the fourth quarter. NewSquare Capital LLC now owns 1,290 shares of the healthcare product maker’s stock worth $93,000 after acquiring an additional 160 shares in the last quarter. Nicolet Bankshares Inc. raised its stake in Abbott Laboratories by 0.7% during the fourth quarter. Nicolet Bankshares Inc. now owns 25,247 shares of the healthcare product maker’s stock worth $1,826,000 after acquiring an additional 165 shares in the last quarter. Jolley Asset Management LLC raised its stake in Abbott Laboratories by 0.5% during the fourth quarter. Jolley Asset Management LLC now owns 32,721 shares of the healthcare product maker’s stock worth $2,367,000 after acquiring an additional 166 shares in the last quarter. Finally, Lourd Capital LLC raised its stake in Abbott Laboratories by 1.8% during the fourth quarter. Lourd Capital LLC now owns 10,407 shares of the healthcare product maker’s stock worth $753,000 after acquiring an additional 181 shares in the last quarter. 74.31% of the stock is owned by hedge funds and other institutional investors.

Shares of ABT stock opened at $78.98 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.62 and a quick ratio of 1.20. The stock has a market capitalization of $137.43 billion, a P/E ratio of 27.42, a PEG ratio of 2.09 and a beta of 1.13. Abbott Laboratories has a 12 month low of $56.81 and a 12 month high of $79.14.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, January 23rd. The healthcare product maker reported $0.81 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.81. The firm had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.82 billion. Abbott Laboratories had a return on equity of 16.55% and a net margin of 7.74%. The company’s revenue was up 2.3% on a year-over-year basis. During the same period last year, the company earned $0.74 earnings per share. Equities analysts anticipate that Abbott Laboratories will post 3.2 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a $0.32 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $1.28 dividend on an annualized basis and a yield of 1.62%. Abbott Laboratories’s payout ratio is 44.44%.

In related news, insider Joseph J. Manning sold 1,223 shares of Abbott Laboratories stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $78.00, for a total value of $95,394.00. Following the completion of the sale, the insider now directly owns 61,324 shares in the company, valued at $4,783,272. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Roger Bird sold 9,188 shares of Abbott Laboratories stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $79.06, for a total value of $726,403.28. Following the completion of the sale, the insider now owns 60,195 shares of the company’s stock, valued at $4,759,016.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 198,669 shares of company stock valued at $14,085,330. Corporate insiders own 0.74% of the company’s stock.

A number of analysts have recently weighed in on ABT shares. Citigroup lowered Abbott Laboratories from a “neutral” rating to a “sell” rating and lowered their target price for the company from $72.00 to $68.00 in a research note on Wednesday, January 2nd. UBS Group started coverage on Abbott Laboratories in a research note on Tuesday, November 27th. They issued a “buy” rating and a $83.00 target price for the company. Zacks Investment Research lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, March 5th. Goldman Sachs Group upgraded Abbott Laboratories from a “neutral” rating to a “buy” rating and set a $74.10 target price for the company in a research note on Sunday, December 9th. Finally, Bank of America restated a “buy” rating and issued a $81.00 target price (up from $73.00) on shares of Abbott Laboratories in a research note on Thursday, February 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $79.71.

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About Abbott Laboratories

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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