Agran Libbie raised its position in Abbott Laboratories (NYSE:ABT) by 20.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,134 shares of the healthcare product maker’s stock after buying an additional 6,875 shares during the period. Agran Libbie’s holdings in Abbott Laboratories were worth $1,617,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. BlackRock Fund Advisors raised its stake in shares of Abbott Laboratories by 4.4% in the first quarter. BlackRock Fund Advisors now owns 22,240,030 shares of the healthcare product maker’s stock worth $930,300,000 after buying an additional 934,358 shares during the last quarter. Primecap Management Co. CA raised its stake in shares of Abbott Laboratories by 1.0% in the first quarter. Primecap Management Co. CA now owns 16,812,839 shares of the healthcare product maker’s stock worth $703,281,000 after buying an additional 169,800 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Abbott Laboratories by 0.9% in the first quarter. Geode Capital Management LLC now owns 12,405,029 shares of the healthcare product maker’s stock worth $517,885,000 after buying an additional 113,359 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Abbott Laboratories by 3.2% in the first quarter. Franklin Resources Inc. now owns 8,566,994 shares of the healthcare product maker’s stock worth $358,357,000 after buying an additional 263,484 shares during the last quarter. Finally, TIAA CREF Investment Management LLC raised its stake in shares of Abbott Laboratories by 21.1% in the first quarter. TIAA CREF Investment Management LLC now owns 8,264,886 shares of the healthcare product maker’s stock worth $345,720,000 after buying an additional 1,441,150 shares during the last quarter. 73.03% of the stock is currently owned by institutional investors and hedge funds.
Abbott Laboratories (NYSE:ABT) traded up 0.20% on Wednesday, hitting $40.98. The company’s stock had a trading volume of 6,402,915 shares. The company has a market capitalization of $60.24 billion, a P/E ratio of 27.05 and a beta of 0.87. The company has a 50 day moving average price of $42.16 and a 200-day moving average price of $41.39. Abbott Laboratories has a 1-year low of $36.00 and a 1-year high of $46.38.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, July 20th. The healthcare product maker reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.02. Abbott Laboratories had a net margin of 11.08% and a return on equity of 15.11%. The firm earned $5.30 billion during the quarter, compared to analyst estimates of $5.24 billion. During the same quarter in the prior year, the business posted $0.52 earnings per share. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. On average, equities analysts forecast that Abbott Laboratories will post ($0.01) earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th will be paid a dividend of $0.26 per share. The ex-dividend date is Wednesday, October 12th. This represents a $1.04 annualized dividend and a yield of 2.54%. Abbott Laboratories’s dividend payout ratio is 68.87%.
ABT has been the topic of a number of analyst reports. Bank of America Corp. reaffirmed a “buy” rating and set a $50.00 target price on shares of Abbott Laboratories in a research report on Friday, August 12th. Zacks Investment Research lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, October 4th. Edward Jones raised Abbott Laboratories from a “hold” rating to a “buy” rating in a report on Tuesday, June 21st. Jefferies Group boosted their price objective on Abbott Laboratories from $49.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, August 4th. Finally, Barclays PLC reissued a “buy” rating and issued a $48.00 price objective on shares of Abbott Laboratories in a report on Saturday, June 18th. Seven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $47.02.
In other Abbott Laboratories news, SVP Daniel Gesua Sive Salvadori sold 815 shares of the company’s stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $41.71, for a total transaction of $33,993.65. Following the sale, the senior vice president now directly owns 59,791 shares of the company’s stock, valued at $2,493,882.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Miles D. White acquired 242,547 shares of the firm’s stock in a transaction on Monday, July 25th. The shares were purchased at an average cost of $43.18 per share, for a total transaction of $10,473,179.46. Following the completion of the purchase, the chairman now directly owns 2,010,517 shares of the company’s stock, valued at approximately $86,814,124.06. The disclosure for this purchase can be found here. Company insiders own 0.26% of the company’s stock.
About Abbott Laboratories
Abbott Laboratories (Abbott) is engaged in the discovery, development, manufacture and sale of a line of healthcare products. The Company operates in four business segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. The Established Pharmaceutical Products segment includes the international sales of a line of branded generic pharmaceutical products.
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