Abbott Laboratories (NYSE:ABT) Shares Sold by Ocean Capital Management LLC

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Ocean Capital Management LLC decreased its holdings in Abbott Laboratories (NYSE:ABT) by 3.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,573 shares of the healthcare product maker’s stock after selling 125 shares during the period. Ocean Capital Management LLC’s holdings in Abbott Laboratories were worth $327,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also bought and sold shares of the business. BlackRock Inc. grew its stake in shares of Abbott Laboratories by 2.7% in the first quarter. BlackRock Inc. now owns 128,123,947 shares of the healthcare product maker’s stock worth $10,110,260,000 after acquiring an additional 3,395,345 shares in the last quarter. State Street Corp grew its stake in shares of Abbott Laboratories by 0.7% in the first quarter. State Street Corp now owns 74,084,521 shares of the healthcare product maker’s stock worth $5,846,010,000 after acquiring an additional 528,871 shares in the last quarter. Capital International Investors lifted its position in shares of Abbott Laboratories by 17.9% during the 1st quarter. Capital International Investors now owns 55,781,543 shares of the healthcare product maker’s stock worth $4,401,723,000 after purchasing an additional 8,454,341 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Abbott Laboratories by 11.9% during the 1st quarter. Wellington Management Group LLP now owns 43,184,886 shares of the healthcare product maker’s stock worth $3,407,719,000 after purchasing an additional 4,584,550 shares during the last quarter. Finally, Morgan Stanley lifted its position in shares of Abbott Laboratories by 11.3% during the 1st quarter. Morgan Stanley now owns 25,362,234 shares of the healthcare product maker’s stock worth $2,001,335,000 after purchasing an additional 2,578,161 shares during the last quarter. Institutional investors and hedge funds own 73.59% of the company’s stock.

A number of equities research analysts recently weighed in on ABT shares. Zacks Investment Research cut shares of Abbott Laboratories from a “hold” rating to a “sell” rating and set a $98.00 price target for the company. in a research report on Wednesday, April 15th. Wells Fargo & Co reaffirmed a “buy” rating and issued a $107.00 target price on shares of Abbott Laboratories in a report on Thursday, July 9th. Stifel Nicolaus upped their target price on shares of Abbott Laboratories from $85.00 to $108.00 in a report on Friday, April 17th. Bank of America upped their target price on shares of Abbott Laboratories from $95.00 to $110.00 and gave the company a “buy” rating in a report on Monday, July 20th. Finally, Goldman Sachs Group cut shares of Abbott Laboratories from a “neutral” rating to a “sell” rating and set a $84.00 target price for the company. in a report on Sunday, May 31st. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $105.13.

In related news, EVP Andrew H. Lane sold 80,000 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $92.00, for a total transaction of $7,360,000.00. Following the completion of the sale, the executive vice president now directly owns 107,090 shares of the company’s stock, valued at approximately $9,852,280. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Lisa D. Earnhardt sold 872 shares of the firm’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $90.84, for a total transaction of $79,212.48. Following the sale, the executive vice president now directly owns 72,946 shares of the company’s stock, valued at $6,626,414.64. The disclosure for this sale can be found here. Insiders sold 110,724 shares of company stock valued at $10,377,028 in the last three months. Company insiders own 1.70% of the company’s stock.

Shares of Abbott Laboratories stock traded down $0.89 on Friday, reaching $100.64. 4,604,259 shares of the stock were exchanged, compared to its average volume of 4,638,467. Abbott Laboratories has a 1-year low of $61.61 and a 1-year high of $102.89. The company has a current ratio of 1.57, a quick ratio of 1.01 and a debt-to-equity ratio of 0.59. The business has a fifty day moving average price of $93.64 and a two-hundred day moving average price of $88.45. The firm has a market capitalization of $178.02 billion, a PE ratio of 58.17, a PEG ratio of 3.38 and a beta of 0.97.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Thursday, July 16th. The healthcare product maker reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.15. Abbott Laboratories had a net margin of 9.89% and a return on equity of 17.34%. The company had revenue of $7.33 billion for the quarter, compared to analyst estimates of $6.85 billion. During the same period in the prior year, the business posted $0.82 earnings per share. The firm’s revenue for the quarter was down 8.2% compared to the same quarter last year. Research analysts expect that Abbott Laboratories will post 3.27 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Wednesday, July 15th will be given a $0.36 dividend. The ex-dividend date is Tuesday, July 14th. This represents a $1.44 annualized dividend and a dividend yield of 1.43%. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.08. Abbott Laboratories’s dividend payout ratio is presently 44.44%.

Abbott Laboratories Profile

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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