Cohen Lawrence B lifted its stake in Abbott Laboratories (NYSE:ABT) by 135.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,719 shares of the healthcare product maker’s stock after purchasing an additional 4,440 shares during the period. Cohen Lawrence B’s holdings in Abbott Laboratories were worth $649,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. FMR LLC grew its holdings in Abbott Laboratories by 0.3% during the 1st quarter. FMR LLC now owns 23,827,545 shares of the healthcare product maker’s stock worth $1,904,774,000 after acquiring an additional 65,260 shares in the last quarter. Geode Capital Management LLC grew its holdings in Abbott Laboratories by 8.7% during the 4th quarter. Geode Capital Management LLC now owns 22,133,985 shares of the healthcare product maker’s stock worth $1,598,270,000 after acquiring an additional 1,778,840 shares in the last quarter. Norges Bank bought a new position in Abbott Laboratories during the 4th quarter worth about $1,239,454,000. Janus Henderson Group PLC grew its holdings in Abbott Laboratories by 0.9% during the 2nd quarter. Janus Henderson Group PLC now owns 17,025,499 shares of the healthcare product maker’s stock worth $1,431,723,000 after acquiring an additional 149,307 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in Abbott Laboratories by 8.8% during the 4th quarter. Legal & General Group Plc now owns 8,343,002 shares of the healthcare product maker’s stock worth $603,446,000 after acquiring an additional 672,358 shares in the last quarter. Hedge funds and other institutional investors own 73.42% of the company’s stock.
NYSE:ABT opened at $86.89 on Wednesday. Abbott Laboratories has a fifty-two week low of $63.07 and a fifty-two week high of $88.76. The company has a market cap of $153.09 billion, a PE ratio of 30.17, a P/E/G ratio of 2.44 and a beta of 1.12. The company has a quick ratio of 1.20, a current ratio of 1.68 and a debt-to-equity ratio of 0.60. The firm has a 50-day moving average price of $85.76.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Friday, July 12th. Abbott Laboratories’s dividend payout ratio is presently 44.44%.
ABT has been the topic of several recent research reports. Raymond James increased their target price on shares of Abbott Laboratories from $87.00 to $93.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Zacks Investment Research cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating and set a $84.00 target price on the stock. in a report on Friday, June 7th. Bank of America reiterated a “buy” rating and set a $81.00 target price on shares of Abbott Laboratories in a report on Thursday, June 13th. Wells Fargo & Co increased their target price on shares of Abbott Laboratories from $89.00 to $91.00 and gave the stock an “outperform” rating in a report on Thursday, June 13th. Finally, Jefferies Financial Group increased their target price on shares of Abbott Laboratories from $80.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the company’s stock. Abbott Laboratories currently has a consensus rating of “Buy” and an average target price of $85.82.
In other Abbott Laboratories news, CFO Brian B. Yoor sold 43,763 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $85.77, for a total transaction of $3,753,552.51. Following the completion of the transaction, the chief financial officer now directly owns 125,781 shares of the company’s stock, valued at approximately $10,788,236.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael J. Pederson sold 23,008 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $86.39, for a total transaction of $1,987,661.12. Following the transaction, the senior vice president now directly owns 104,228 shares of the company’s stock, valued at $9,004,256.92. The disclosure for this sale can be found here. Insiders have sold a total of 885,102 shares of company stock valued at $71,110,429 over the last three months. 0.70% of the stock is currently owned by insiders.
About Abbott Laboratories
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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