Sunbelt Securities Inc. Increases Stock Position in Abbott Laboratories (NYSE:ABT)

Sunbelt Securities Inc. raised its position in shares of Abbott Laboratories (NYSE:ABT) by 12.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,008 shares of the healthcare product maker’s stock after buying an additional 1,247 shares during the period. Sunbelt Securities Inc.’s holdings in Abbott Laboratories were worth $926,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ABT. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC lifted its position in shares of Abbott Laboratories by 3.8% in the 2nd quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 3,176 shares of the healthcare product maker’s stock worth $267,000 after purchasing an additional 116 shares during the period. M&R Capital Management Inc. lifted its position in Abbott Laboratories by 0.5% during the 2nd quarter. M&R Capital Management Inc. now owns 26,084 shares of the healthcare product maker’s stock valued at $2,193,000 after acquiring an additional 126 shares during the period. Advantage Investment Management LLC lifted its position in Abbott Laboratories by 4.6% during the 2nd quarter. Advantage Investment Management LLC now owns 2,906 shares of the healthcare product maker’s stock valued at $244,000 after acquiring an additional 128 shares during the period. St. Johns Investment Management Company LLC lifted its position in Abbott Laboratories by 0.7% during the 2nd quarter. St. Johns Investment Management Company LLC now owns 19,014 shares of the healthcare product maker’s stock valued at $1,599,000 after acquiring an additional 131 shares during the period. Finally, Bank OZK lifted its position in Abbott Laboratories by 0.5% during the 1st quarter. Bank OZK now owns 24,326 shares of the healthcare product maker’s stock valued at $1,944,000 after acquiring an additional 133 shares during the period. 73.42% of the stock is owned by institutional investors and hedge funds.

In other news, insider Brian J. Blaser sold 450,062 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $75.52, for a total value of $33,988,682.24. Following the completion of the sale, the insider now directly owns 295,745 shares in the company, valued at $22,334,662.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael J. Pederson sold 23,008 shares of Abbott Laboratories stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $86.39, for a total transaction of $1,987,661.12. Following the completion of the sale, the senior vice president now owns 104,228 shares of the company’s stock, valued at $9,004,256.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 885,102 shares of company stock valued at $71,110,429. 0.70% of the stock is owned by company insiders.

ABT has been the subject of a number of recent research reports. Cowen lifted their price target on shares of Abbott Laboratories from $86.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Zacks Investment Research cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating and set a $84.00 price target for the company. in a research report on Friday, June 7th. Wells Fargo & Co lifted their price target on shares of Abbott Laboratories from $89.00 to $91.00 and gave the company an “outperform” rating in a research report on Thursday, June 13th. Bank of America reissued a “buy” rating and set a $81.00 price target on shares of Abbott Laboratories in a research report on Thursday, June 13th. Finally, William Blair reissued an “outperform” rating on shares of Abbott Laboratories in a research report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $85.82.

NYSE:ABT traded up $0.05 on Wednesday, reaching $84.71. 682,629 shares of the stock traded hands, compared to its average volume of 5,655,848. The firm has a market capitalization of $153.09 billion, a P/E ratio of 29.41, a price-to-earnings-growth ratio of 2.44 and a beta of 1.12. The company has a quick ratio of 1.20, a current ratio of 1.68 and a debt-to-equity ratio of 0.60. Abbott Laboratories has a 12 month low of $63.07 and a 12 month high of $88.76. The stock’s fifty day moving average is $85.76.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, July 17th. The healthcare product maker reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.02. The business had revenue of $7.98 billion during the quarter, compared to analyst estimates of $8 billion. Abbott Laboratories had a net margin of 9.36% and a return on equity of 17.26%. Abbott Laboratories’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business earned $0.73 EPS. As a group, research analysts predict that Abbott Laboratories will post 3.24 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, July 12th. This represents a $1.28 dividend on an annualized basis and a yield of 1.51%. Abbott Laboratories’s dividend payout ratio is currently 44.44%.

About Abbott Laboratories

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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