Dundas Partners LLP Acquires 2,754 Shares of Abbott Laboratories (NYSE:ABT)

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Dundas Partners LLP grew its position in Abbott Laboratories (NYSE:ABT) by 1.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 208,547 shares of the healthcare product maker’s stock after purchasing an additional 2,754 shares during the period. Abbott Laboratories comprises about 4.1% of Dundas Partners LLP’s portfolio, making the stock its 9th largest position. Dundas Partners LLP’s holdings in Abbott Laboratories were worth $17,538,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Manchester Financial Inc. purchased a new stake in Abbott Laboratories in the second quarter valued at approximately $30,000. Front Row Advisors LLC raised its stake in Abbott Laboratories by 790.9% in the first quarter. Front Row Advisors LLC now owns 392 shares of the healthcare product maker’s stock valued at $31,000 after purchasing an additional 348 shares in the last quarter. Weaver Consulting Group purchased a new stake in Abbott Laboratories in the first quarter valued at approximately $33,000. Beacon Capital Management Inc. purchased a new stake in Abbott Laboratories in the first quarter valued at approximately $38,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Abbott Laboratories in the second quarter valued at approximately $42,000. Institutional investors own 73.42% of the company’s stock.

ABT has been the topic of several research reports. Wells Fargo & Co lifted their price target on shares of Abbott Laboratories from $89.00 to $91.00 and gave the stock an “outperform” rating in a research note on Thursday, June 13th. Morgan Stanley lifted their price target on shares of Abbott Laboratories from $85.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. BMO Capital Markets lifted their price target on shares of Abbott Laboratories from $87.00 to $94.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Jefferies Financial Group lifted their price target on shares of Abbott Laboratories from $80.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, Cowen lifted their price target on shares of Abbott Laboratories from $86.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. One equities 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 stock. Abbott Laboratories presently has an average rating of “Buy” and a consensus target price of $85.82.

In related news, insider Daniel Gesua Sive Salvadori sold 10,600 shares of Abbott Laboratories stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $82.00, for a total value of $869,200.00. Following the sale, the insider now owns 99,479 shares in the company, valued at $8,157,278. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Brian J. Blaser sold 450,062 shares of Abbott Laboratories stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $75.52, for a total transaction of $33,988,682.24. Following the completion of the sale, the insider now owns 295,745 shares in the company, valued at approximately $22,334,662.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 885,102 shares of company stock worth $71,110,429. 0.70% of the stock is owned by insiders.

Shares of NYSE ABT opened at $86.89 on Wednesday. The company has a current ratio of 1.68, a quick ratio of 1.20 and a debt-to-equity ratio of 0.60. Abbott Laboratories has a 52 week low of $63.07 and a 52 week high of $88.76. The business has a fifty day moving average price of $85.76. The stock has a market capitalization of $153.09 billion, a P/E ratio of 30.17, a price-to-earnings-growth ratio of 2.44 and a beta of 1.12.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, July 17th. The healthcare product maker reported $0.82 EPS for the quarter, topping the consensus estimate of $0.80 by $0.02. Abbott Laboratories had a net margin of 9.36% and a return on equity of 17.26%. The company had revenue of $7.98 billion for the quarter, compared to the consensus estimate of $8 billion. During the same period in the previous year, the firm earned $0.73 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, equities analysts predict that Abbott Laboratories will post 3.24 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Friday, July 12th. Abbott Laboratories’s payout ratio is 44.44%.

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

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