Abbott Laboratories (ABT) Position Reduced by B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund

B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund lessened its holdings in shares of Abbott Laboratories (NYSE:ABT) by 55.7% in the second quarter, according to its most recent filing with the SEC. The firm owned 3,411 shares of the healthcare product maker’s stock after selling 4,289 shares during the period. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund’s holdings in Abbott Laboratories were worth $208,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ABT. Moody National Bank Trust Division grew its stake in Abbott Laboratories by 7.3% in the 2nd quarter. Moody National Bank Trust Division now owns 11,757 shares of the healthcare product maker’s stock valued at $717,000 after buying an additional 795 shares during the last quarter. Sullivan Bruyette Speros & Blaney LLC grew its position in shares of Abbott Laboratories by 4.2% during the 2nd quarter. Sullivan Bruyette Speros & Blaney LLC now owns 19,760 shares of the healthcare product maker’s stock worth $1,205,000 after purchasing an additional 796 shares in the last quarter. North Star Asset Management Inc. grew its position in shares of Abbott Laboratories by 0.3% during the 2nd quarter. North Star Asset Management Inc. now owns 275,593 shares of the healthcare product maker’s stock worth $16,808,000 after purchasing an additional 828 shares in the last quarter. Lcnb Corp grew its position in shares of Abbott Laboratories by 4.0% during the 2nd quarter. Lcnb Corp now owns 21,412 shares of the healthcare product maker’s stock worth $1,306,000 after purchasing an additional 829 shares in the last quarter. Finally, Liberty Mutual Group Asset Management Inc. grew its position in shares of Abbott Laboratories by 1.2% during the 2nd quarter. Liberty Mutual Group Asset Management Inc. now owns 70,078 shares of the healthcare product maker’s stock worth $4,274,000 after purchasing an additional 830 shares in the last quarter. 72.16% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have issued reports on ABT. Royal Bank of Canada restated a “buy” rating and set a $70.00 target price on shares of Abbott Laboratories in a research report on Thursday, July 19th. Cowen increased their price objective on shares of Abbott Laboratories from $72.00 to $86.00 and gave the company an “average” rating in a research note on Friday. JPMorgan Chase & Co. increased their price objective on shares of Abbott Laboratories from $77.00 to $81.00 and gave the company an “overweight” rating in a research note on Monday. Raymond James increased their price objective on shares of Abbott Laboratories from $72.00 to $77.00 and gave the company an “outperform” rating in a research note on Monday, September 24th. Finally, Sanford C. Bernstein started coverage on shares of Abbott Laboratories in a research note on Wednesday, June 27th. They issued an “outperform” rating and a $73.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $72.78.

In other news, insider Michael J. Pederson sold 1,050 shares of the business’s stock in a transaction that occurred on Tuesday, July 24th. The shares were sold at an average price of $63.43, for a total value of $66,601.50. Following the sale, the insider now owns 79,467 shares of the company’s stock, valued at $5,040,591.81. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Sharon J. Bracken sold 615 shares of the business’s stock in a transaction that occurred on Monday, July 30th. The shares were sold at an average price of $65.16, for a total transaction of $40,073.40. Following the completion of the sale, the insider now directly owns 40,761 shares in the company, valued at approximately $2,655,986.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 155,321 shares of company stock worth $10,492,583. Insiders own 0.74% of the company’s stock.

Shares of NYSE ABT traded down $0.14 during mid-day trading on Monday, reaching $71.44. 5,528,800 shares of the company’s stock traded hands, compared to its average volume of 5,946,999. The stock has a market capitalization of $128.70 billion, a P/E ratio of 28.60, a P/E/G ratio of 2.05 and a beta of 1.49. Abbott Laboratories has a 1-year low of $53.61 and a 1-year high of $74.15. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.58 and a quick ratio of 1.16.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, July 18th. The healthcare product maker reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. Abbott Laboratories had a net margin of 3.13% and a return on equity of 15.30%. The company had revenue of $7.77 billion for the quarter, compared to analyst estimates of $7.71 billion. During the same period last year, the firm earned $0.62 earnings per share. The firm’s revenue was up 17.0% on a year-over-year basis. As a group, equities research analysts anticipate that Abbott Laboratories will post 2.88 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Monday, October 15th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date is Friday, October 12th. Abbott Laboratories’s payout ratio is currently 44.80%.

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 symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.

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

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