S&CO Inc. Continues to Hold Position in Abbott Laboratories (ABT)

S&CO Inc. continued to hold its position in shares of Abbott Laboratories (NYSE:ABT) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 280,380 shares of the healthcare product maker’s stock at the end of the second quarter. Abbott Laboratories comprises approximately 1.8% of S&CO Inc.’s holdings, making the stock its 20th biggest holding. S&CO Inc.’s holdings in Abbott Laboratories were worth $13,629,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Sanders Morris Harris LLC increased its position in shares of Abbott Laboratories by 0.3% in the second quarter. Sanders Morris Harris LLC now owns 4,986 shares of the healthcare product maker’s stock worth $242,000 after acquiring an additional 16 shares in the last quarter. Alpha Windward LLC increased its position in shares of Abbott Laboratories by 0.6% in the second quarter. Alpha Windward LLC now owns 5,434 shares of the healthcare product maker’s stock worth $264,000 after acquiring an additional 30 shares in the last quarter. Johanson Financial Advisors Inc. increased its position in shares of Abbott Laboratories by 0.5% in the second quarter. Johanson Financial Advisors Inc. now owns 7,017 shares of the healthcare product maker’s stock worth $343,000 after acquiring an additional 37 shares in the last quarter. Country Club Trust Company n.a. increased its position in shares of Abbott Laboratories by 0.5% in the second quarter. Country Club Trust Company n.a. now owns 7,320 shares of the healthcare product maker’s stock worth $356,000 after acquiring an additional 38 shares in the last quarter. Finally, Farmers National Bank increased its position in shares of Abbott Laboratories by 1.5% in the first quarter. Farmers National Bank now owns 3,568 shares of the healthcare product maker’s stock worth $158,000 after acquiring an additional 52 shares in the last quarter. 71.50% of the stock is currently owned by institutional investors and hedge funds.

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In other news, insider Sharon J. Bracken sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $49.16, for a total value of $98,320.00. Following the completion of the sale, the insider now owns 28,806 shares of the company’s stock, valued at approximately $1,416,102.96. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Hubert L. Allen sold 4,600 shares of the stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $50.79, for a total value of $233,634.00. Following the completion of the sale, the insider now directly owns 105,479 shares of the company’s stock, valued at approximately $5,357,278.41. The disclosure for this sale can be found here. Insiders have sold a total of 333,310 shares of company stock valued at $16,857,255 over the last ninety days. Company insiders own 0.76% of the company’s stock.

ABT has been the topic of several analyst reports. BidaskClub raised shares of Abbott Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 17th. Jefferies Group LLC reaffirmed a “buy” rating and set a $58.00 price objective on shares of Abbott Laboratories in a research report on Thursday, June 29th. TheStreet raised shares of Abbott Laboratories from a “c+” rating to a “b” rating in a research report on Monday, July 3rd. Wells Fargo & Company reaffirmed an “outperform” rating and set a $54.00 price objective (up from $47.50) on shares of Abbott Laboratories in a research report on Friday, June 30th. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $55.00 price objective (up from $48.00) on shares of Abbott Laboratories in a research report on Friday, July 14th. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $54.94.

Shares of Abbott Laboratories (ABT) opened at 54.71 on Friday. The firm has a 50-day moving average of $52.35 and a 200-day moving average of $48.05. Abbott Laboratories has a 1-year low of $37.38 and a 1-year high of $55.43. The firm has a market capitalization of $95.06 billion, a PE ratio of 76.62 and a beta of 1.06.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.02. The company 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%. The business’s quarterly revenue was up 24.5% on a year-over-year basis. During the same period last year, the business earned $0.55 EPS. On average, equities research analysts anticipate that Abbott Laboratories will post $2.49 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be paid a dividend of $0.265 per share. The ex-dividend date is Thursday, October 12th. This represents a $1.06 annualized dividend and a dividend yield of 1.94%. Abbott Laboratories’s dividend payout ratio is currently 149.30%.

Abbott Laboratories Profile

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.

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

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