Abbott Laboratories (ABT) Shares Sold by Comerica Bank

Comerica Bank decreased its position in shares of Abbott Laboratories (NYSE:ABT) by 11.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 919,594 shares of the healthcare product maker’s stock after selling 117,406 shares during the period. Abbott Laboratories makes up approximately 0.5% of Comerica Bank’s investment portfolio, making the stock its 23rd biggest position. Comerica Bank owned 0.05% of Abbott Laboratories worth $63,056,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Ontario Teachers Pension Plan Board boosted its position in shares of Abbott Laboratories by 8.2% during the second quarter. Ontario Teachers Pension Plan Board now owns 23,331 shares of the healthcare product maker’s stock valued at $1,423,000 after buying an additional 1,762 shares during the period. HRT Financial LLC purchased a new position in shares of Abbott Laboratories during the second quarter valued at approximately $206,000. American Century Companies Inc. boosted its position in shares of Abbott Laboratories by 417.9% during the second quarter. American Century Companies Inc. now owns 5,586,119 shares of the healthcare product maker’s stock valued at $340,697,000 after buying an additional 4,507,553 shares during the period. Baird Financial Group Inc. boosted its position in shares of Abbott Laboratories by 0.8% during the second quarter. Baird Financial Group Inc. now owns 1,195,417 shares of the healthcare product maker’s stock valued at $72,823,000 after buying an additional 9,229 shares during the period. Finally, Worldquant Millennium Quantitative Strategies LLC purchased a new position in shares of Abbott Laboratories during the second quarter valued at approximately $1,793,000. Hedge funds and other institutional investors own 72.30% of the company’s stock.

Several research analysts have issued reports on the company. Zacks Investment Research lowered Abbott Laboratories from a “hold” rating to a “sell” rating in a research report on Monday, October 8th. Cowen boosted their target price on Abbott Laboratories from $72.00 to $86.00 and gave the company an “average” rating in a research report on Friday, October 5th. JPMorgan Chase & Co. lifted their price target on shares of Abbott Laboratories from $77.00 to $81.00 and gave the company an “overweight” rating in a research note on Monday, October 8th. Jefferies Financial Group reaffirmed a “buy” rating and set a $80.00 price target on shares of Abbott Laboratories in a research note on Thursday, October 18th. Finally, BTIG Research reaffirmed a “hold” rating on shares of Abbott Laboratories in a research note on Thursday, October 18th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $75.22.

In related news, insider Andrew H. Lane sold 9,097 shares of the business’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $67.11, for a total value of $610,499.67. Following the completion of the transaction, the insider now owns 35,576 shares of the company’s stock, valued at $2,387,505.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel Gesua Sive Salvadori sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 28th. The stock was sold at an average price of $73.39, for a total transaction of $366,950.00. Following the completion of the transaction, the insider now directly owns 93,321 shares of the company’s stock, valued at approximately $6,848,828.19. The disclosure for this sale can be found here. Insiders sold 203,297 shares of company stock valued at $14,018,743 in the last three months. 0.74% of the stock is currently owned by insiders.

Abbott Laboratories stock opened at $72.79 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.42 and a debt-to-equity ratio of 0.62. Abbott Laboratories has a fifty-two week low of $54.32 and a fifty-two week high of $74.15. The company has a market cap of $124.63 billion, a PE ratio of 29.12, a P/E/G ratio of 2.11 and a beta of 1.39.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 17th. The healthcare product maker reported $0.75 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.75. Abbott Laboratories had a net margin of 2.91% and a return on equity of 16.05%. The firm had revenue of $7.66 billion during the quarter, compared to the consensus estimate of $7.65 billion. During the same quarter in the previous year, the firm posted $0.66 earnings per share. The company’s revenue was up 12.1% on a year-over-year basis. On average, sell-side analysts predict that Abbott Laboratories will post 2.89 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Monday, October 15th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date is Friday, October 12th. Abbott Laboratories’s dividend payout ratio (DPR) is 44.80%.

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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 symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine 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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