WBI Investments Inc. acquired a new stake in shares of Abbott Laboratories (NYSE:ABT) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 420,216 shares of the healthcare product maker’s stock, valued at approximately $20,427,000. Abbott Laboratories accounts for 0.9% of WBI Investments Inc.’s portfolio, making the stock its 26th biggest holding.
Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp raised its position in shares of Abbott Laboratories by 18.9% in the 1st quarter. State Street Corp now owns 80,499,469 shares of the healthcare product maker’s stock worth $3,574,987,000 after acquiring an additional 12,806,535 shares in the last quarter. Boston Partners raised its position in shares of Abbott Laboratories by 28.1% in the 2nd quarter. Boston Partners now owns 10,516,502 shares of the healthcare product maker’s stock worth $511,207,000 after acquiring an additional 2,304,467 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Abbott Laboratories by 33.8% in the 1st quarter. Ameriprise Financial Inc. now owns 8,823,399 shares of the healthcare product maker’s stock worth $391,841,000 after acquiring an additional 2,231,316 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Abbott Laboratories by 76.1% in the 2nd quarter. Principal Financial Group Inc. now owns 4,557,426 shares of the healthcare product maker’s stock worth $221,536,000 after acquiring an additional 1,969,723 shares in the last quarter. Finally, Legal & General Group Plc increased its position in Abbott Laboratories by 20.1% during the 1st quarter. Legal & General Group Plc now owns 8,550,357 shares of the healthcare product maker’s stock valued at $379,731,000 after buying an additional 1,433,093 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.
Several research analysts recently issued reports on the company. Cowen reaffirmed a “buy” rating and set a $55.00 target price on shares of Abbott Laboratories in a research report on Thursday, August 17th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Abbott Laboratories in a research report on Thursday, October 19th. Barclays upped their target price on Abbott Laboratories from $57.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, September 28th. Citigroup assumed coverage on Abbott Laboratories in a research report on Thursday, August 17th. They set a “neutral” rating and a $53.00 target price on the stock. Finally, ValuEngine lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Friday. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $56.81.
Shares of Abbott Laboratories (ABT) opened at $54.71 on Tuesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 2.69. The firm has a market capitalization of $97,438.84, a PE ratio of 23.23, a price-to-earnings-growth ratio of 2.10 and a beta of 1.06. Abbott Laboratories has a one year low of $37.42 and a one year high of $56.69.
Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. The firm had revenue of $6.83 billion for the quarter, compared to the consensus estimate of $6.72 billion. During the same quarter in the prior year, the business earned $0.59 earnings per share. The company’s revenue was up 28.8% compared to the same quarter last year. equities research analysts forecast that Abbott Laboratories will post 2.49 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th were paid a $0.265 dividend. The ex-dividend date of this dividend was Thursday, October 12th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.94%. Abbott Laboratories’s payout ratio is 83.47%.
In other news, insider Sharon J. Bracken sold 2,188 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $56.12, for a total value of $122,790.56. Following the sale, the insider now owns 25,618 shares in the company, valued at $1,437,682.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jaime Contreras sold 52,700 shares of the company’s stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $51.97, for a total value of $2,738,819.00. Following the completion of the sale, the insider now owns 58,739 shares in the company, valued at approximately $3,052,665.83. The disclosure for this sale can be found here. Insiders sold 311,127 shares of company stock worth $16,958,579 in the last 90 days. Company insiders own 0.76% of the company’s stock.
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Abbott Laboratories Company Profile
Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.
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