Hartford Investment Management Co. increased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 1.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 244,341 shares of the healthcare product maker’s stock after acquiring an additional 2,559 shares during the period. Hartford Investment Management Co.’s holdings in Abbott Laboratories were worth $20,549,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ABT. Norges Bank bought a new stake in Abbott Laboratories during the 4th quarter worth approximately $1,239,454,000. FMR LLC boosted its position in Abbott Laboratories by 118.2% in the 4th quarter. FMR LLC now owns 23,762,285 shares of the healthcare product maker’s stock valued at $1,718,726,000 after buying an additional 12,871,418 shares during the last quarter. Ronna Sue Cohen boosted its position in Abbott Laboratories by 7,636.6% in the 1st quarter. Ronna Sue Cohen now owns 6,248,957 shares of the healthcare product maker’s stock valued at $6,249,000 after buying an additional 6,168,186 shares during the last quarter. Geode Capital Management LLC boosted its position in Abbott Laboratories by 8.7% in the 4th quarter. Geode Capital Management LLC now owns 22,133,985 shares of the healthcare product maker’s stock valued at $1,598,270,000 after buying an additional 1,778,840 shares during the last quarter. Finally, Epoch Investment Partners Inc. boosted its position in Abbott Laboratories by 11,001.5% in the 4th quarter. Epoch Investment Partners Inc. now owns 1,787,006 shares of the healthcare product maker’s stock valued at $129,254,000 after buying an additional 1,770,909 shares during the last quarter. Institutional investors and hedge funds own 73.46% of the company’s stock.
ABT stock opened at $84.39 on Monday. The company has a fifty day moving average of $85.32. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.13 and a current ratio of 1.68. The firm has a market cap of $151.68 billion, a P/E ratio of 29.30, a P/E/G ratio of 2.41 and a beta of 1.12. Abbott Laboratories has a twelve month low of $63.07 and a twelve month high of $88.76.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date is Friday, July 12th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 44.44%.
ABT has been the topic of a number of recent research reports. Royal Bank of Canada increased their price objective on Abbott Laboratories to $82.00 and gave the company a “buy” rating in a research report on Monday, April 15th. They noted that the move was a valuation call. Zacks Investment Research lowered Abbott Laboratories from a “buy” rating to a “hold” rating and set a $84.00 price objective on the stock. in a research report on Friday, June 7th. Raymond James increased their price objective on Abbott Laboratories from $87.00 to $93.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. William Blair reiterated an “outperform” rating on shares of Abbott Laboratories in a research report on Thursday, April 18th. Finally, Jefferies Financial Group increased their price objective on Abbott Laboratories from $80.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $85.82.
In other news, Director Sally E. Blount sold 2,500 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $87.65, for a total value of $219,125.00. Following the transaction, the director now owns 26,266 shares of the company’s stock, valued at approximately $2,302,214.90. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Brian J. Blaser sold 450,062 shares of the stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $75.52, for a total value of $33,988,682.24. Following the completion of the transaction, the insider now directly owns 295,745 shares in the company, valued at approximately $22,334,662.40. The disclosure for this sale can be found here. In the last three months, insiders sold 818,331 shares of company stock worth $65,369,215. 0.70% of the stock is currently owned by company insiders.
Abbott Laboratories Company Profile
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.
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