Greenleaf Trust boosted its holdings in Abbott Laboratories (NYSE:ABT) by 4.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,964 shares of the healthcare product maker’s stock after purchasing an additional 1,458 shares during the quarter. Greenleaf Trust’s holdings in Abbott Laboratories were worth $2,772,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. Northern Trust Corp increased its stake in Abbott Laboratories by 2.7% in the 4th quarter. Northern Trust Corp now owns 26,603,904 shares of the healthcare product maker’s stock valued at $1,924,260,000 after buying an additional 708,691 shares during the period. Krueger & Catalano Capital Partners LLC acquired a new position in Abbott Laboratories in the 1st quarter valued at $244,000. FMR LLC increased its stake in Abbott Laboratories by 0.3% in the 1st quarter. FMR LLC now owns 23,827,545 shares of the healthcare product maker’s stock valued at $1,904,774,000 after buying an additional 65,260 shares during the period. Lowe Brockenbrough & Co. Inc. increased its stake in Abbott Laboratories by 2.5% in the 1st quarter. Lowe Brockenbrough & Co. Inc. now owns 62,003 shares of the healthcare product maker’s stock valued at $4,956,000 after buying an additional 1,514 shares during the period. Finally, Claraphi Advisory Network LLC increased its stake in Abbott Laboratories by 6.4% in the 4th quarter. Claraphi Advisory Network LLC now owns 5,221 shares of the healthcare product maker’s stock valued at $377,000 after buying an additional 314 shares during the period. Hedge funds and other institutional investors own 73.42% of the company’s stock.
In other news, Director Sally E. Blount sold 2,500 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $87.65, for a total transaction of $219,125.00. Following the transaction, the director now directly owns 26,266 shares of the company’s stock, valued at approximately $2,302,214.90. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Brian J. Blaser sold 450,062 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $75.52, for a total transaction of $33,988,682.24. Following the transaction, the insider now directly owns 295,745 shares in the company, valued at $22,334,662.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 818,331 shares of company stock worth $65,369,215. Corporate insiders own 0.70% of the company’s stock.
NYSE:ABT opened at $85.82 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.13 and a current ratio of 1.68. Abbott Laboratories has a fifty-two week low of $63.07 and a fifty-two week high of $88.76. The firm has a market cap of $152.14 billion, a PE ratio of 29.80, a PEG ratio of 2.42 and a beta of 1.12. The stock’s fifty day moving average is $85.32.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, July 17th. The healthcare product maker reported $0.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.02. Abbott Laboratories had a net margin of 9.36% and a return on equity of 17.26%. The business had revenue of $7.98 billion for the quarter, compared to analysts’ expectations of $8 billion. During the same period in the prior year, the company posted $0.73 EPS. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, analysts forecast that Abbott Laboratories will post 3.24 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be paid a dividend of $0.32 per share. The ex-dividend date is Friday, July 12th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.49%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.44%.
ABT has been the topic of several recent research reports. Wells Fargo & Co boosted their price objective on shares of Abbott Laboratories from $89.00 to $91.00 and gave the company an “outperform” rating in a research note on Thursday, June 13th. Bank of America reissued a “buy” rating and issued a $81.00 price objective on shares of Abbott Laboratories in a research note on Thursday, June 13th. William Blair reissued an “outperform” rating on shares of Abbott Laboratories in a research note on Thursday, April 18th. Jefferies Financial Group boosted their price objective on shares of Abbott Laboratories from $80.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Finally, Cowen boosted their price objective on shares of Abbott Laboratories from $86.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have issued a buy rating to the company. Abbott Laboratories presently has a consensus rating of “Buy” and a consensus target price of $85.82.
Abbott Laboratories Company 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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