Shelter Mutual Insurance Co Sells 6,250 Shares of Abbott Laboratories (NYSE:ABT)

Shelter Mutual Insurance Co trimmed its holdings in Abbott Laboratories (NYSE:ABT) by 8.8% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 65,150 shares of the healthcare product maker’s stock after selling 6,250 shares during the quarter. Abbott Laboratories comprises approximately 1.6% of Shelter Mutual Insurance Co’s portfolio, making the stock its 27th biggest position. Shelter Mutual Insurance Co’s holdings in Abbott Laboratories were worth $5,479,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Manchester Financial Inc. bought a new stake in Abbott Laboratories in the 2nd quarter worth about $30,000. Front Row Advisors LLC increased its holdings in Abbott Laboratories by 790.9% in the 1st quarter. Front Row Advisors LLC now owns 392 shares of the healthcare product maker’s stock worth $31,000 after buying an additional 348 shares in the last quarter. Weaver Consulting Group bought a new stake in Abbott Laboratories in the 1st quarter worth about $33,000. Beacon Capital Management Inc. bought a new stake in Abbott Laboratories in the 1st quarter worth about $38,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in Abbott Laboratories in the 2nd quarter worth about $42,000. Institutional investors own 73.42% of the company’s stock.

ABT has been the subject of a number of recent research reports. BMO Capital Markets boosted their price target on Abbott Laboratories from $87.00 to $94.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Zacks Investment Research downgraded Abbott Laboratories from a “buy” rating to a “hold” rating and set a $84.00 price target for the company. in a research note on Friday, June 7th. Cowen boosted their price target on Abbott Laboratories from $86.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Bank of America restated a “buy” rating and set a $81.00 price target on shares of Abbott Laboratories in a research note on Thursday, June 13th. Finally, Wells Fargo & Co boosted their price target on Abbott Laboratories from $89.00 to $91.00 and gave the company an “outperform” rating in a research note on Thursday, June 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Abbott Laboratories presently has an average rating of “Buy” and a consensus target price of $85.82.

Shares of Abbott Laboratories stock traded up $0.39 during trading hours on Thursday, reaching $84.33. 134,705 shares of the stock traded hands, compared to its average volume of 5,327,106. The business’s 50 day moving average is $85.77. The company has a market capitalization of $149.58 billion, a price-to-earnings ratio of 29.29, a price-to-earnings-growth ratio of 2.38 and a beta of 1.12. Abbott Laboratories has a one year low of $63.07 and a one year high of $88.76. The company has a quick ratio of 1.20, a current ratio of 1.68 and a debt-to-equity ratio of 0.60.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, July 17th. The healthcare product maker reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.02. The business had revenue of $7.98 billion during the quarter, compared to the consensus estimate of $8 billion. Abbott Laboratories had a return on equity of 17.26% and a net margin of 9.36%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.73 EPS. On average, sell-side analysts expect that Abbott Laboratories will post 3.24 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, July 12th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.52%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.44%.

In related news, Director Sally E. Blount sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $87.65, for a total transaction of $219,125.00. Following the completion of the transaction, the director now directly owns 26,266 shares in the company, valued at approximately $2,302,214.90. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Brian B. Yoor sold 43,763 shares of the business’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 value of $3,753,552.51. Following the transaction, the chief financial officer now owns 125,781 shares of the company’s stock, valued at $10,788,236.37. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 885,102 shares of company stock valued at $71,110,429. 0.70% of the stock is currently owned by corporate insiders.

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.

Further Reading: Asset Allocation, Balancing Your Investments

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

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