Brookstone Capital Management Decreases Stock Holdings in Abbott Laboratories (NYSE:ABT)

Brookstone Capital Management decreased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 10.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,198 shares of the healthcare product maker’s stock after selling 4,511 shares during the quarter. Brookstone Capital Management’s holdings in Abbott Laboratories were worth $4,569,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Abbott Laboratories by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 156,467,081 shares of the healthcare product maker’s stock valued at $17,222,332,000 after buying an additional 701,740 shares during the period. Capital Research Global Investors grew its position in Abbott Laboratories by 9.5% in the fourth quarter. Capital Research Global Investors now owns 86,588,614 shares of the healthcare product maker’s stock valued at $9,530,825,000 after acquiring an additional 7,527,778 shares in the last quarter. Capital International Investors lifted its position in shares of Abbott Laboratories by 2.3% during the fourth quarter. Capital International Investors now owns 64,294,784 shares of the healthcare product maker’s stock worth $7,077,148,000 after purchasing an additional 1,457,847 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Abbott Laboratories by 3.3% in the fourth quarter. Wellington Management Group LLP now owns 32,236,101 shares of the healthcare product maker’s stock valued at $3,548,228,000 after purchasing an additional 1,027,390 shares during the period. Finally, Norges Bank purchased a new stake in Abbott Laboratories during the 4th quarter worth $2,115,836,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Abbott Laboratories

In related news, EVP Jr. Robert E. Funck sold 10,097 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $104.57, for a total value of $1,055,843.29. Following the completion of the transaction, the executive vice president now directly owns 211,341 shares of the company’s stock, valued at approximately $22,099,928.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Lisa D. Earnhardt sold 22,852 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $106.25, for a total value of $2,428,025.00. Following the completion of the transaction, the executive vice president now directly owns 61,462 shares in the company, valued at $6,530,337.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jr. Robert E. Funck sold 10,097 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $104.57, for a total value of $1,055,843.29. Following the sale, the executive vice president now directly owns 211,341 shares in the company, valued at approximately $22,099,928.37. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

Abbott Laboratories Stock Performance

Shares of NYSE ABT opened at $104.87 on Thursday. The stock has a market capitalization of $182.43 billion, a P/E ratio of 32.67, a P/E/G ratio of 2.54 and a beta of 0.74. The firm’s 50-day moving average price is $104.89 and its two-hundred day moving average price is $110.17. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. The firm had revenue of $9.96 billion during the quarter, compared to the consensus estimate of $9.88 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.96%. The firm’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.03 EPS. As a group, sell-side analysts forecast that Abbott Laboratories will post 4.62 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend is Monday, July 15th. Abbott Laboratories’s payout ratio is 68.54%.

Analyst Ratings Changes

Several brokerages have recently weighed in on ABT. Barclays lowered their target price on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a research note on Monday, April 22nd. Citigroup dropped their price objective on Abbott Laboratories from $128.00 to $119.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Raymond James reiterated a “buy” rating and set a $124.00 target price on shares of Abbott Laboratories in a research note on Wednesday, April 24th. The Goldman Sachs Group began coverage on shares of Abbott Laboratories in a research note on Thursday, May 30th. They issued a “buy” rating and a $121.00 price target for the company. Finally, Evercore ISI increased their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus price target of $120.64.

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.