Putnam Investments LLC Has $105.87 Million Holdings in Abbott Laboratories (NYSE:ABT)

Putnam Investments LLC lifted its holdings in Abbott Laboratories (NYSE:ABT) by 5.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,258,891 shares of the healthcare product maker’s stock after purchasing an additional 65,203 shares during the period. Putnam Investments LLC owned 0.07% of Abbott Laboratories worth $105,873,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in ABT. First Command Bank lifted its stake in shares of Abbott Laboratories by 2.5% in the 1st quarter. First Command Bank now owns 6,101 shares of the healthcare product maker’s stock valued at $488,000 after purchasing an additional 146 shares during the last quarter. Bank of Stockton lifted its position in Abbott Laboratories by 8.3% during the 1st quarter. Bank of Stockton now owns 27,633 shares of the healthcare product maker’s stock worth $2,208,000 after acquiring an additional 2,120 shares during the last quarter. Nwam LLC lifted its position in Abbott Laboratories by 11.4% during the 1st quarter. Nwam LLC now owns 5,573 shares of the healthcare product maker’s stock worth $446,000 after acquiring an additional 570 shares during the last quarter. Northpointe Capital LLC lifted its position in Abbott Laboratories by 26.5% during the 1st quarter. Northpointe Capital LLC now owns 52,202 shares of the healthcare product maker’s stock worth $4,173,000 after acquiring an additional 10,936 shares during the last quarter. Finally, Country Trust Bank lifted its position in Abbott Laboratories by 36.4% during the 1st quarter. Country Trust Bank now owns 1,500 shares of the healthcare product maker’s stock worth $120,000 after acquiring an additional 400 shares during the last quarter. 73.72% of the stock is owned by institutional investors and hedge funds.

ABT has been the subject of a number of research analyst reports. Wells Fargo & Co boosted their target price on shares of Abbott Laboratories from $89.00 to $91.00 and gave the stock an “outperform” rating in a research report on Thursday, June 13th. Jefferies Financial Group boosted their target price on shares of Abbott Laboratories from $80.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Morgan Stanley boosted their target price on shares of Abbott Laboratories from $85.00 to $93.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Zacks Investment Research lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating and set a $93.00 target price for the company. in a research report on Wednesday, August 21st. Finally, Bank of America reissued a “buy” rating and set a $81.00 target price on shares of Abbott Laboratories in a research report on Thursday, June 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $86.38.

In other news, CFO Brian B. Yoor sold 43,763 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $85.77, for a total transaction of $3,753,552.51. Following the transaction, the chief financial officer now owns 125,781 shares in the company, valued at approximately $10,788,236.37. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Michael J. Pederson sold 23,008 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now owns 104,228 shares in the company, valued at approximately $9,004,256.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 464,397 shares of company stock worth $39,677,310. Insiders own 0.70% of the company’s stock.

Shares of NYSE:ABT traded up $0.51 on Wednesday, hitting $84.09. 19,471 shares of the company were exchanged, compared to its average volume of 3,954,266. The company’s 50 day moving average price is $84.93 and its two-hundred day moving average price is $81.26. Abbott Laboratories has a one year low of $65.44 and a one year high of $88.76. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.68. The firm has a market capitalization of $148.94 billion, a price-to-earnings ratio of 29.20, a PEG ratio of 2.37 and a beta of 1.14.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, July 17th. The healthcare product maker reported $0.82 earnings per share (EPS) for the quarter, topping the 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 company had revenue of $7.98 billion for the quarter, compared to the consensus estimate of $8 billion. During the same quarter in the previous year, the firm posted $0.73 EPS. The business’s revenue was up 2.7% compared to the same quarter last year. Research analysts predict that Abbott Laboratories will post 3.24 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.28 annualized dividend and a dividend yield of 1.52%. Abbott Laboratories’s payout ratio is 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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