Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in Abbott Laboratories (NYSE:ABT) by 16.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 401,340 shares of the healthcare product maker’s stock after buying an additional 57,793 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Abbott Laboratories were worth $19,509,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the stock. Winfield Associates Inc. boosted its stake in Abbott Laboratories by 3.9% during the 2nd quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock valued at $116,000 after purchasing an additional 89 shares during the last quarter. V Wealth Management LLC acquired a new position in Abbott Laboratories during the 2nd quarter valued at about $127,000. JFS Wealth Advisors LLC boosted its stake in Abbott Laboratories by 349.0% during 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 last quarter. Burt Wealth Advisors boosted its stake in Abbott Laboratories by 14.4% during the 2nd quarter. Burt Wealth Advisors now owns 3,181 shares of the healthcare product maker’s stock valued at $154,000 after purchasing an additional 400 shares during the last quarter. Finally, Farmers National Bank boosted its stake in Abbott Laboratories by 1.5% during the 1st quarter. Farmers National Bank now owns 3,568 shares of the healthcare product maker’s stock valued at $158,000 after purchasing an additional 52 shares during the last quarter. 70.64% of the stock is owned by institutional investors and hedge funds.
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A number of equities analysts have issued reports on ABT shares. Stifel Nicolaus reiterated a “buy” rating and set a $58.00 price target on shares of Abbott Laboratories in a research note on Friday, July 21st. Barclays PLC reiterated an “overweight” rating and set a $57.00 price target (up previously from $52.00) on shares of Abbott Laboratories in a research note on Saturday, July 22nd. BidaskClub downgraded Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Zacks Investment Research downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, Jefferies Group LLC restated a “buy” rating and issued a $58.00 target price on shares of Abbott Laboratories in a research note on Thursday, August 3rd. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Abbott Laboratories presently has a consensus rating of “Buy” and an average price target of $56.81.
Shares of Abbott Laboratories (ABT) opened at $55.30 on Tuesday. The company has a current ratio of 2.69, a quick ratio of 2.26 and a debt-to-equity ratio of 0.72. Abbott Laboratories has a 1-year low of $37.38 and a 1-year high of $56.69. The stock has a market cap of $95,384.93, a price-to-earnings ratio of 22.74, a price-to-earnings-growth ratio of 2.05 and a beta of 1.06.
Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The business had revenue of $6.83 billion for the quarter, compared to analysts’ expectations of $6.72 billion. During the same quarter in the previous year, the firm posted $0.59 EPS. The business’s revenue for the quarter was up 28.8% compared to the same quarter last year. equities research analysts forecast that Abbott Laboratories will post 2.5 earnings per share for the current fiscal year.
The firm 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 dividend of $0.265 per share. The ex-dividend date is Thursday, October 12th. This represents a $1.06 dividend on an annualized basis and a yield of 1.92%. Abbott Laboratories’s payout ratio is 83.47%.
In other news, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of the company’s stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $56.21, for a total value of $5,430,054.63. Following the transaction, the executive vice president now owns 142,082 shares of the company’s stock, valued at $7,986,429.22. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Stephen R. Fussell sold 196,550 shares of the company’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $49.50, for a total transaction of $9,729,225.00. Following the completion of the transaction, the insider now directly owns 221,488 shares in the company, valued at approximately $10,963,656. The disclosure for this sale can be found here. Insiders have sold a total of 408,313 shares of company stock worth $21,205,356 in the last three months. Insiders own 0.76% of the company’s stock.
Abbott Laboratories Company 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.
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