Schafer Cullen Capital Management Inc. Sells 1,400 Shares of Abbott Laboratories (ABT)

Schafer Cullen Capital Management Inc. cut its holdings in Abbott Laboratories (NYSE:ABT) by 2.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 66,960 shares of the healthcare product maker’s stock after selling 1,400 shares during the quarter. Schafer Cullen Capital Management Inc.’s holdings in Abbott Laboratories were worth $3,821,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ABT. Beach Investment Management LLC. raised its holdings in Abbott Laboratories by 2,161.4% in the second quarter. Beach Investment Management LLC. now owns 302,577 shares of the healthcare product maker’s stock worth $14,708,000 after purchasing an additional 289,197 shares during the period. Nationwide Fund Advisors raised its holdings in Abbott Laboratories by 36.4% in the second quarter. Nationwide Fund Advisors now owns 2,155,637 shares of the healthcare product maker’s stock worth $104,786,000 after purchasing an additional 574,810 shares during the period. Bahl & Gaynor Inc. raised its holdings in shares of Abbott Laboratories by 35.7% during the second quarter. Bahl & Gaynor Inc. now owns 3,700,426 shares of the healthcare product maker’s stock worth $142,134,000 after acquiring an additional 974,395 shares during the period. Profund Advisors LLC raised its holdings in shares of Abbott Laboratories by 3.7% during the second quarter. Profund Advisors LLC now owns 71,677 shares of the healthcare product maker’s stock worth $3,484,000 after acquiring an additional 2,528 shares during the period. Finally, Thrivent Financial For Lutherans raised its holdings in shares of Abbott Laboratories by 99.0% during the second quarter. Thrivent Financial For Lutherans now owns 328,026 shares of the healthcare product maker’s stock worth $15,945,000 after acquiring an additional 163,208 shares during the period. 72.34% of the stock is currently owned by hedge funds and other institutional investors.

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In other news, insider Roger Bird sold 8,262 shares of Abbott Laboratories stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $62.75, for a total value of $518,440.50. Following the completion of the transaction, the insider now owns 58,574 shares of the company’s stock, valued at approximately $3,675,518.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel J. Starks acquired 40,037 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was purchased at an average cost of $60.67 per share, with a total value of $2,429,044.79. Following the transaction, the director now owns 6,943,348 shares in the company, valued at $421,252,923.16. The disclosure for this purchase can be found here. In the last three months, insiders sold 124,261 shares of company stock valued at $7,559,987. Insiders own 0.74% of the company’s stock.

A number of equities research analysts recently commented on the stock. Leerink Swann restated a “market perform” rating and set a $68.00 price objective (up from $60.00) on shares of Abbott Laboratories in a report on Thursday, January 25th. Bank of America raised their price objective on shares of Abbott Laboratories from $60.00 to $70.00 in a report on Wednesday, January 24th. They noted that the move was a valuation call. BMO Capital Markets raised their price objective on shares of Abbott Laboratories from $65.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Stifel Nicolaus raised their price objective on shares of Abbott Laboratories from $63.00 to $71.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Finally, Barclays raised their price objective on shares of Abbott Laboratories from $66.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, January 25th. Seven analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $65.47.

Shares of ABT stock opened at $59.27 on Tuesday. The company has a current ratio of 2.26, a quick ratio of 1.86 and a debt-to-equity ratio of 0.87. Abbott Laboratories has a 1 year low of $42.31 and a 1 year high of $64.60. The firm has a market capitalization of $102,143.08, a price-to-earnings ratio of 23.40, a price-to-earnings-growth ratio of 1.73 and a beta of 1.49.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, January 24th. The healthcare product maker reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. Abbott Laboratories had a net margin of 1.74% and a return on equity of 13.88%. The company had revenue of $7.59 billion during the quarter, compared to the consensus estimate of $7.38 billion. During the same quarter last year, the firm posted $0.65 EPS. The company’s quarterly revenue was up 42.3% on a year-over-year basis. research analysts expect that Abbott Laboratories will post 2.86 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Thursday, April 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.80%.

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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 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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