Abbott Laboratories (ABT) Stake Increased by Ronald Blue & Co. LLC

Ronald Blue & Co. LLC boosted its holdings in Abbott Laboratories (NYSE:ABT) by 0.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,368 shares of the healthcare product maker’s stock after purchasing an additional 71 shares during the quarter. Ronald Blue & Co. LLC’s holdings in Abbott Laboratories were worth $407,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. First Western Capital Management Co grew its position in Abbott Laboratories by 0.7% in the 2nd quarter. First Western Capital Management Co now owns 82,192 shares of the healthcare product maker’s stock valued at $3,995,000 after purchasing an additional 549 shares during the period. JFS Wealth Advisors LLC grew its position in Abbott Laboratories by 349.0% in the 2nd quarter. JFS Wealth Advisors LLC now owns 2,694 shares of the healthcare product maker’s stock valued at $131,000 after purchasing an additional 2,094 shares during the period. Daiwa Securities Group Inc. grew its position in Abbott Laboratories by 6.7% in the 2nd quarter. Daiwa Securities Group Inc. now owns 55,241 shares of the healthcare product maker’s stock valued at $2,685,000 after purchasing an additional 3,455 shares during the period. Grove Bank & Trust grew its position in Abbott Laboratories by 40.4% in the 2nd quarter. Grove Bank & Trust now owns 20,442 shares of the healthcare product maker’s stock valued at $993,000 after purchasing an additional 5,882 shares during the period. Finally, Stewart & Patten Co. LLC grew its position in Abbott Laboratories by 1.8% in the 2nd quarter. Stewart & Patten Co. LLC now owns 306,771 shares of the healthcare product maker’s stock valued at $14,913,000 after purchasing an additional 5,571 shares during the period. 71.50% of the stock is owned by institutional investors and hedge funds.

Shares of Abbott Laboratories (NYSE:ABT) opened at 54.71 on Friday. Abbott Laboratories has a 1-year low of $37.38 and a 1-year high of $55.43. The stock’s 50 day moving average price is $52.35 and its 200-day moving average price is $48.05. The company 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 released its quarterly earnings data on Thursday, July 20th. The healthcare product maker reported $0.62 EPS for the quarter, beating the consensus estimate of $0.60 by $0.02. Abbott Laboratories had a return on equity of 14.43% and a net margin of 4.96%. The company had revenue of $6.64 billion for the quarter, compared to analysts’ expectations of $6.63 billion. During the same period last year, the firm posted $0.55 earnings per share. Abbott Laboratories’s revenue was up 24.5% compared to the same quarter last year. On average, equities analysts predict that Abbott Laboratories will post $2.49 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th will be issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date is Thursday, October 12th. Abbott Laboratories’s dividend payout ratio is 149.30%.

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Several analysts recently issued reports on ABT shares. Zacks Investment Research downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Royal Bank Of Canada reissued a “buy” rating and issued a $55.00 price target on shares of Abbott Laboratories in a research report on Tuesday, October 3rd. Wells Fargo & Company reissued an “outperform” rating and issued a $54.00 price target (up previously from $47.50) on shares of Abbott Laboratories in a research report on Friday, June 30th. J P Morgan Chase & Co started coverage on shares of Abbott Laboratories in a research report on Friday, October 6th. They issued a “neutral” rating and a $60.00 price target for the company. Finally, Barclays PLC reissued an “overweight” rating and issued a $57.00 price target (up previously from $52.00) on shares of Abbott Laboratories in a research report on Saturday, July 22nd. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Abbott Laboratories currently has an average rating of “Buy” and an average target price of $54.94.

In other news, insider Daniel Gesua Sive Salvadori sold 62,460 shares of the firm’s stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $52.95, for a total value of $3,307,257.00. Following the transaction, the insider now owns 113,426 shares of the company’s stock, valued at $6,005,906.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian J. Blaser sold 15,000 shares of the firm’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $50.00, for a total value of $750,000.00. Following the completion of the transaction, the insider now directly owns 143,154 shares in the company, valued at approximately $7,157,700. The disclosure for this sale can be found here. In the last three months, insiders sold 333,310 shares of company stock worth $16,857,255. 0.76% of the stock is owned by corporate insiders.

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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