Pacer Advisors Inc. raised its holdings in shares of Abbott Laboratories (NYSE:ABT) by 8.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 40,378 shares of the healthcare product maker’s stock after acquiring an additional 3,103 shares during the period. Pacer Advisors Inc.’s holdings in Abbott Laboratories were worth $1,963,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the business. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of Abbott Laboratories by 16.8% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 401,340 shares of the healthcare product maker’s stock valued at $19,509,000 after acquiring an additional 57,793 shares during the last quarter. Willingdon Wealth Management bought a new stake in shares of Abbott Laboratories during the 2nd quarter valued at $211,000. Family Firm Inc. bought a new stake in shares of Abbott Laboratories during the 2nd quarter valued at $223,000. Canandaigua National Bank & Trust Co. raised its position in shares of Abbott Laboratories by 3.6% during the 2nd quarter. Canandaigua National Bank & Trust Co. now owns 36,501 shares of the healthcare product maker’s stock valued at $1,774,000 after acquiring an additional 1,254 shares during the last quarter. Finally, Intrust Bank NA raised its position in shares of Abbott Laboratories by 4.7% during the 2nd quarter. Intrust Bank NA now owns 22,729 shares of the healthcare product maker’s stock valued at $1,105,000 after acquiring an additional 1,030 shares during the last quarter. Institutional investors own 70.64% of the company’s stock.
Several analysts have commented on ABT shares. Cowen and Company reiterated a “buy” rating on shares of Abbott Laboratories in a research report on Sunday, September 24th. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research report on Friday, September 22nd. BidaskClub cut shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Jefferies Group LLC restated a “buy” rating and issued a $58.00 price objective on shares of Abbott Laboratories in a research report on Thursday, August 3rd. Finally, Stifel Nicolaus restated a “buy” rating and issued a $58.00 price objective on shares of Abbott Laboratories in a research report on Friday, July 21st. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Abbott Laboratories presently has a consensus rating of “Buy” and an average price target of $56.81.
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Abbott Laboratories (NYSE:ABT) opened at $55.30 on Tuesday. The stock has a market capitalization of $95,384.93, a PE ratio of 22.74, a price-to-earnings-growth ratio of 2.05 and a beta of 1.06. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 2.69. Abbott Laboratories has a 1-year low of $37.38 and a 1-year high of $56.69.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 18th. The healthcare product maker reported $0.66 EPS for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.01. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The company had revenue of $6.83 billion during the quarter, compared to the consensus estimate of $6.72 billion. During the same period in the prior year, the business posted $0.59 EPS. The company’s quarterly revenue was up 28.8% on a year-over-year basis. equities analysts forecast that Abbott Laboratories will post 2.5 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be paid a dividend of $0.265 per share. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.92%. Abbott Laboratories’s dividend payout ratio is 83.47%.
In other news, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of the stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $56.21, for a total transaction of $5,430,054.63. Following the completion of the transaction, the executive vice president now directly owns 142,082 shares in the company, valued at approximately $7,986,429.22. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jaime Contreras sold 52,700 shares of the stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $51.97, for a total transaction of $2,738,819.00. Following the transaction, the insider now owns 58,739 shares of the company’s stock, valued at $3,052,665.83. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 408,313 shares of company stock valued at $21,205,356. Company insiders own 0.76% of the company’s stock.
About Abbott Laboratories
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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