Buckingham Asset Management LLC grew its position in shares of Abbott Laboratories (NYSE:ABT) by 70.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,461 shares of the healthcare product maker’s stock after buying an additional 10,498 shares during the quarter. Buckingham Asset Management LLC’s holdings in Abbott Laboratories were worth $1,238,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently modified their holdings of ABT. Massmutual Trust Co. FSB ADV lifted its position in shares of Abbott Laboratories by 0.3% during the first quarter. Massmutual Trust Co. FSB ADV now owns 89,397 shares of the healthcare product maker’s stock worth $3,970,000 after purchasing an additional 287 shares in the last quarter. Girard Partners LTD. lifted its position in shares of Abbott Laboratories by 12.4% during the first quarter. Girard Partners LTD. now owns 98,433 shares of the healthcare product maker’s stock worth $4,371,000 after purchasing an additional 10,867 shares in the last quarter. Boston Partners lifted its position in shares of Abbott Laboratories by 5,663.7% during the first quarter. Boston Partners now owns 8,212,035 shares of the healthcare product maker’s stock worth $364,696,000 after purchasing an additional 8,069,557 shares in the last quarter. Henderson Group PLC lifted its position in shares of Abbott Laboratories by 18.8% during the first quarter. Henderson Group PLC now owns 226,675 shares of the healthcare product maker’s stock worth $10,070,000 after purchasing an additional 35,836 shares in the last quarter. Finally, HPM Partners LLC acquired a new position in shares of Abbott Laboratories during the first quarter worth approximately $2,447,000. 70.64% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Abbott Laboratories (ABT) opened at $55.01 on Wednesday. The company has a quick ratio of 2.26, a current ratio of 2.69 and a debt-to-equity ratio of 0.72. The firm has a market cap of $96,255.23, a price-to-earnings ratio of 22.95, a price-to-earnings-growth ratio of 2.07 and a beta of 1.06. Abbott Laboratories has a twelve month low of $37.38 and a twelve month high of $56.69.
Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The company had revenue of $6.83 billion for the quarter, compared to analyst estimates of $6.72 billion. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The business’s revenue for the quarter was up 28.8% compared to the same quarter last year. During the same period last year, the business posted $0.59 earnings per share. sell-side analysts anticipate that Abbott Laboratories will post 2.5 EPS for the current year.
The company 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 $0.265 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.06 annualized dividend and a yield of 1.93%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 83.47%.
In other news, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of the stock in a transaction on 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 sale, the executive vice president now owns 142,082 shares of the company’s stock, valued at $7,986,429.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jaime Contreras sold 52,700 shares of the stock in a transaction on 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 sale, the insider now directly owns 58,739 shares of the company’s stock, valued at approximately $3,052,665.83. The disclosure for this sale can be found here. Over the last quarter, insiders sold 211,763 shares of company stock worth $11,476,131. Company insiders own 0.76% of the company’s stock.
A number of equities analysts have recently issued reports on the stock. Citigroup Inc. assumed coverage on shares of Abbott Laboratories in a research report on Thursday, August 17th. They set a “neutral” rating and a $53.00 target price on the stock. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Friday, September 22nd. Barclays PLC upped their target price on shares of Abbott Laboratories from $57.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, September 28th. J P Morgan Chase & Co assumed coverage on shares of Abbott Laboratories in a research report on Friday, October 6th. They set a “neutral” rating and a $60.00 target price on the stock. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $65.00 target price on shares of Abbott Laboratories in a research report on Thursday, October 19th. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $56.81.
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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