Edmond DE Rothschild Holding S.A. Has $18.76 Million Position in Abbott Laboratories (ABT)

Edmond DE Rothschild Holding S.A. lowered its position in shares of Abbott Laboratories (NYSE:ABT) by 4.1% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 422,378 shares of the healthcare product maker’s stock after selling 17,991 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in Abbott Laboratories were worth $18,758,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in ABT. Manning & Napier Advisors LLC boosted its stake in shares of Abbott Laboratories by 26.3% in the first quarter. Manning & Napier Advisors LLC now owns 194,870 shares of the healthcare product maker’s stock worth $8,653,000 after buying an additional 40,598 shares during the period. CENTRAL TRUST Co boosted its stake in Abbott Laboratories by 3.3% in the first quarter. CENTRAL TRUST Co now owns 173,579 shares of the healthcare product maker’s stock valued at $7,708,000 after buying an additional 5,472 shares during the period. Pure Financial Advisors Inc. boosted its stake in Abbott Laboratories by 0.4% in the first quarter. Pure Financial Advisors Inc. now owns 11,004 shares of the healthcare product maker’s stock valued at $489,000 after buying an additional 45 shares during the period. Atlas Brown Inc. boosted its stake in Abbott Laboratories by 5.0% in the first quarter. Atlas Brown Inc. now owns 23,424 shares of the healthcare product maker’s stock valued at $1,040,000 after buying an additional 1,111 shares during the period. Finally, Rathbone Brothers plc boosted its stake in Abbott Laboratories by 0.7% in the first quarter. Rathbone Brothers plc now owns 217,637 shares of the healthcare product maker’s stock valued at $9,665,000 after buying an additional 1,589 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Shares of Abbott Laboratories (NYSE:ABT) traded down 0.86% on Thursday, hitting $48.35. The company had a trading volume of 572,283 shares. The company has a market cap of $84.01 billion, a price-to-earnings ratio of 67.72 and a beta of 1.07. Abbott Laboratories has a 12-month low of $37.38 and a 12-month high of $51.13. The company has a 50 day moving average of $49.13 and a 200-day moving average of $45.58.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02. The firm had revenue of $6.64 billion during the quarter, compared to analysts’ expectations of $6.63 billion. Abbott Laboratories had a net margin of 4.96% and a return on equity of 14.43%. Abbott Laboratories’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.55 earnings per share. On average, analysts forecast that Abbott Laboratories will post $2.49 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Friday, July 14th will be issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Wednesday, July 12th. Abbott Laboratories’s dividend payout ratio is presently 149.30%.

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ABT has been the topic of several analyst reports. Wells Fargo & Company restated an “outperform” rating and set a $54.00 price objective (up previously from $47.50) on shares of Abbott Laboratories in a report on Friday, June 30th. Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a report on Tuesday, May 16th. TheStreet upgraded Abbott Laboratories from a “c+” rating to a “b” rating in a report on Monday, July 3rd. Barclays PLC restated an “overweight” rating and set a $57.00 price objective (up previously from $52.00) on shares of Abbott Laboratories in a report on Saturday, July 22nd. Finally, BMO Capital Markets restated a “hold” rating and set a $48.00 price objective on shares of Abbott Laboratories in a report on Tuesday, July 11th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Abbott Laboratories has an average rating of “Buy” and an average price target of $51.93.

In related news, insider Jared Watkin sold 552 shares of the company’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $47.97, for a total value of $26,479.44. Following the completion of the sale, the insider now directly owns 47,090 shares in the company, valued at $2,258,907.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sharon J. Bracken sold 2,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $49.16, for a total transaction of $98,320.00. Following the completion of the sale, the insider now owns 28,806 shares of the company’s stock, valued at $1,416,102.96. The disclosure for this sale can be found here. Insiders sold 218,702 shares of company stock valued at $10,149,733 over the last quarter. 0.76% of the stock is currently owned by corporate insiders.

About Abbott Laboratories

Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.

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

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