Summit X LLC acquired a new position in shares of Abbott Laboratories (NYSE:ABT) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 2,373 shares of the healthcare product maker’s stock, valued at approximately $200,000.
Several other institutional investors have also recently added to or reduced their stakes in ABT. Nuveen Asset Management LLC lifted its position in shares of Abbott Laboratories by 7,888.6% during the 2nd quarter. Nuveen Asset Management LLC now owns 12,377,944 shares of the healthcare product maker’s stock worth $1,040,985,000 after purchasing an additional 12,222,999 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Abbott Laboratories by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 148,332,948 shares of the healthcare product maker’s stock worth $12,474,801,000 after purchasing an additional 2,262,152 shares during the last quarter. BlackRock Inc. lifted its position in shares of Abbott Laboratories by 1.8% during the 2nd quarter. BlackRock Inc. now owns 126,525,967 shares of the healthcare product maker’s stock worth $10,640,833,000 after purchasing an additional 2,199,601 shares during the last quarter. Marshall Wace North America L.P. purchased a new stake in shares of Abbott Laboratories during the 2nd quarter worth $158,475,000. Finally, Thoroughbred Financial Services LLC lifted its position in Abbott Laboratories by 8,669.5% in the second quarter. Thoroughbred Financial Services LLC now owns 1,401,282 shares of the healthcare product maker’s stock valued at $140,128,000 after acquiring an additional 1,385,303 shares during the last quarter. 73.76% of the stock is owned by institutional investors and hedge funds.
In other Abbott Laboratories news, SVP Michael J. Pederson sold 23,008 shares of Abbott Laboratories stock in a transaction on Friday, August 9th. The shares were sold at an average price of $86.39, for a total value of $1,987,661.12. Following the transaction, the senior vice president now directly owns 104,228 shares in the company, valued at $9,004,256.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Randel William Woodgrift sold 65,000 shares of Abbott Laboratories stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $88.01, for a total transaction of $5,720,650.00. Following the completion of the transaction, the insider now owns 117,562 shares in the company, valued at $10,346,631.62. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 181,497 shares of company stock worth $15,701,810. 0.70% of the stock is currently owned by company insiders.
NYSE ABT opened at $81.78 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.68. The firm has a market cap of $141.07 billion, a PE ratio of 28.40, a P/E/G ratio of 2.24 and a beta of 1.13. Abbott Laboratories has a one year low of $65.44 and a one year high of $88.76. The firm’s fifty day moving average is $82.90 and its two-hundred day moving average is $81.73.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 16th. The healthcare product maker reported $0.84 EPS for the quarter, meeting analysts’ consensus estimates of $0.84. The company had revenue of $8.08 billion for the quarter, compared to analyst estimates of $8.10 billion. Abbott Laboratories had a net margin of 9.36% and a return on equity of 17.26%. Abbott Laboratories’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.75 earnings per share. Research analysts predict that Abbott Laboratories will post 3.24 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a $0.32 dividend. The ex-dividend date is Friday, October 11th. This represents a $1.28 dividend on an annualized basis and a yield of 1.57%. Abbott Laboratories’s dividend payout ratio is presently 44.44%.
A number of equities research analysts recently weighed in on ABT shares. Zacks Investment Research cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating and set a $93.00 price target for the company. in a research report on Wednesday, August 21st. Morgan Stanley boosted their price target on shares of Abbott Laboratories from $85.00 to $93.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. BMO Capital Markets boosted their price target on shares of Abbott Laboratories from $87.00 to $94.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Cowen boosted their price target on shares of Abbott Laboratories from $86.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Finally, Jefferies Financial Group boosted their price target on shares of Abbott Laboratories from $80.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $86.54.
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.
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