Lyell Wealth Management LP Has $6.50 Million Stake in Abbott Laboratories (NYSE:ABT)

Lyell Wealth Management LP decreased its stake in shares of Abbott Laboratories (NYSE:ABT) by 0.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 57,438 shares of the healthcare product maker’s stock after selling 272 shares during the quarter. Lyell Wealth Management LP’s holdings in Abbott Laboratories were worth $6,497,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of ABT. State Street Corp grew its position in Abbott Laboratories by 3.1% in the 3rd quarter. State Street Corp now owns 76,720,429 shares of the healthcare product maker’s stock valued at $8,746,896,000 after purchasing an additional 2,323,807 shares during the period. Geode Capital Management LLC lifted its stake in Abbott Laboratories by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 34,903,198 shares of the healthcare product maker’s stock valued at $3,963,974,000 after acquiring an additional 488,764 shares in the last quarter. Wellington Management Group LLP lifted its stake in Abbott Laboratories by 1.1% during the 3rd quarter. Wellington Management Group LLP now owns 25,810,977 shares of the healthcare product maker’s stock valued at $2,942,709,000 after acquiring an additional 280,441 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Abbott Laboratories by 25.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker’s stock valued at $1,518,539,000 after acquiring an additional 2,711,586 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of Abbott Laboratories by 5.6% during the 3rd quarter. Fisher Asset Management LLC now owns 11,102,204 shares of the healthcare product maker’s stock worth $1,265,762,000 after purchasing an additional 585,915 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 0.4 %

ABT stock opened at $130.12 on Wednesday. Abbott Laboratories has a twelve month low of $99.71 and a twelve month high of $132.65. 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 capitalization of $225.68 billion, a PE ratio of 17.01, a PEG ratio of 2.39 and a beta of 0.75. The stock has a 50-day simple moving average of $119.57 and a two-hundred day simple moving average of $116.42.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 EPS for the quarter, hitting the consensus estimate of $1.34. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The company had revenue of $10.97 billion during the quarter, compared to analyst estimates of $11.03 billion. During the same quarter in the previous year, the firm earned $1.19 earnings per share. Abbott Laboratories’s revenue was up 7.2% on a year-over-year basis. On average, equities analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th were issued a dividend of $0.59 per share. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.81%. Abbott Laboratories’s payout ratio is presently 30.85%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Barclays reiterated 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. UBS Group lifted their target price on Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Stifel Nicolaus lifted their target price on Abbott Laboratories from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. StockNews.com cut Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $135.00 price objective on shares of Abbott Laboratories in a research note on Tuesday, January 21st. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.06.

Insider Transactions at Abbott Laboratories

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 125,697 shares in the company, valued at $16,152,064.50. This represents a 15.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is owned by insiders.

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.