A. D. Beadell Investment Counsel Inc. Decreases Holdings in Abbott Laboratories (NYSE:ABT)

A. D. Beadell Investment Counsel Inc. reduced its stake in Abbott Laboratories (NYSE:ABTGet Rating) by 2.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 36,765 shares of the healthcare product maker’s stock after selling 800 shares during the quarter. Abbott Laboratories makes up approximately 3.3% of A. D. Beadell Investment Counsel Inc.’s investment portfolio, making the stock its 4th biggest position. A. D. Beadell Investment Counsel Inc.’s holdings in Abbott Laboratories were worth $3,994,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Abbott Laboratories by 1.4% in the first quarter. Vanguard Group Inc. now owns 151,288,441 shares of the healthcare product maker’s stock worth $17,906,500,000 after purchasing an additional 2,136,177 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Abbott Laboratories by 2.1% in the fourth quarter. BlackRock Inc. now owns 137,155,602 shares of the healthcare product maker’s stock worth $19,303,283,000 after purchasing an additional 2,836,966 shares during the last quarter. State Street Corp increased its holdings in shares of Abbott Laboratories by 2.6% in the fourth quarter. State Street Corp now owns 74,322,051 shares of the healthcare product maker’s stock worth $10,460,085,000 after purchasing an additional 1,896,462 shares during the last quarter. Norges Bank bought a new stake in shares of Abbott Laboratories in the fourth quarter worth about $2,290,723,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Abbott Laboratories by 1.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 11,523,473 shares of the healthcare product maker’s stock worth $1,363,917,000 after purchasing an additional 218,683 shares during the last quarter. 73.03% of the stock is owned by institutional investors.

Insider Transactions at Abbott Laboratories

In other news, Director Daniel J. Starks sold 50,000 shares of the business’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $109.14, for a total transaction of $5,457,000.00. Following the sale, the director now directly owns 6,923,500 shares of the company’s stock, valued at $755,630,790. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Abbott Laboratories news, Director Daniel J. Starks sold 50,000 shares of the company’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $109.14, for a total value of $5,457,000.00. Following the sale, the director now directly owns 6,923,500 shares of the company’s stock, valued at $755,630,790. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Robert B. Ford sold 102,425 shares of the stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $105.10, for a total transaction of $10,764,867.50. Following the sale, the chief executive officer now directly owns 142,071 shares in the company, valued at $14,931,662.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 204,788 shares of company stock valued at $21,776,756. Corporate insiders own 0.52% of the company’s stock.

Abbott Laboratories Stock Down 1.5 %

NYSE:ABT traded down $1.51 during trading hours on Friday, reaching $99.56. The company’s stock had a trading volume of 214,423 shares, compared to its average volume of 4,955,861. The company has a market capitalization of $174.35 billion, a P/E ratio of 21.10, a price-to-earnings-growth ratio of 3.73 and a beta of 0.72. Abbott Laboratories has a 12 month low of $99.85 and a 12 month high of $142.60. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.54 and a current ratio of 2.01. The stock has a 50 day moving average price of $107.10 and a two-hundred day moving average price of $111.67.

Abbott Laboratories (NYSE:ABTGet Rating) last issued its quarterly earnings results on Wednesday, July 20th. The healthcare product maker reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.34. The business had revenue of $11.26 billion for the quarter, compared to the consensus estimate of $10.37 billion. Abbott Laboratories had a return on equity of 29.38% and a net margin of 18.78%. The business’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.17 earnings per share. Equities analysts predict that Abbott Laboratories will post 4.99 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Friday, October 14th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Thursday, October 13th. Abbott Laboratories’s payout ratio is presently 39.25%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Evercore ISI reduced their target price on Abbott Laboratories to $112.00 in a report on Friday, July 22nd. UBS Group dropped their price target on Abbott Laboratories from $142.00 to $128.00 and set a “buy” rating for the company in a research report on Wednesday, July 27th. Erste Group Bank lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Thursday, August 25th. Cowen dropped their price target on Abbott Laboratories from $150.00 to $130.00 in a research report on Wednesday, July 13th. Finally, BTIG Research dropped their price target on Abbott Laboratories from $130.00 to $126.00 and set a “buy” rating for the company in a research report on Monday, July 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.46.

Abbott Laboratories Company Profile

(Get Rating)

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The Established Pharmaceutical Products segment provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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