Schaper Benz & Wise Investment Counsel Inc. WI decreased its position in shares of Abbott Laboratories (NYSE:ABT) by 0.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 197,447 shares of the healthcare product maker’s stock after selling 859 shares during the period. Abbott Laboratories comprises 1.7% of Schaper Benz & Wise Investment Counsel Inc. WI’s holdings, making the stock its 25th largest holding. Schaper Benz & Wise Investment Counsel Inc. WI’s holdings in Abbott Laboratories were worth $12,042,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of ABT. Spinnaker Trust boosted its position in Abbott Laboratories by 6.4% in the first quarter. Spinnaker Trust now owns 32,698 shares of the healthcare product maker’s stock valued at $1,958,000 after buying an additional 1,972 shares in the last quarter. Aspiriant LLC boosted its position in Abbott Laboratories by 788.5% in the first quarter. Aspiriant LLC now owns 34,606 shares of the healthcare product maker’s stock valued at $2,074,000 after buying an additional 30,711 shares in the last quarter. Advisor Partners LLC boosted its position in Abbott Laboratories by 11.7% in the second quarter. Advisor Partners LLC now owns 46,893 shares of the healthcare product maker’s stock valued at $2,860,000 after buying an additional 4,928 shares in the last quarter. Bremer Trust National Association boosted its position in Abbott Laboratories by 103.1% in the second quarter. Bremer Trust National Association now owns 40,864 shares of the healthcare product maker’s stock valued at $2,492,000 after buying an additional 20,739 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in Abbott Laboratories by 1.3% in the second quarter. Nisa Investment Advisors LLC now owns 681,540 shares of the healthcare product maker’s stock valued at $41,566,000 after buying an additional 8,676 shares in the last quarter. Institutional investors and hedge funds own 71.80% of the company’s stock.
In related news, insider Sharon J. Bracken sold 615 shares of Abbott Laboratories stock in a transaction 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 transaction, the insider now owns 40,761 shares of the company’s stock, valued at $2,655,986.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael J. Pederson sold 1,050 shares of Abbott Laboratories stock in a transaction on Tuesday, July 24th. The stock was sold at an average price of $63.43, for a total transaction of $66,601.50. Following the transaction, the insider now directly owns 79,467 shares of the company’s stock, valued at approximately $5,040,591.81. The disclosure for this sale can be found here. Insiders have sold 17,024 shares of company stock valued at $1,088,840 in the last three months. 0.74% of the stock is owned by insiders.
A number of analysts have weighed in on the stock. Zacks Investment Research lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 31st. Citigroup cut their target price on shares of Abbott Laboratories from $66.00 to $65.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 24th. Sanford C. Bernstein began coverage on shares of Abbott Laboratories in a report on Wednesday, June 27th. They set an “outperform” rating and a $73.00 price target on the stock. BTIG Research reiterated a “hold” rating on shares of Abbott Laboratories in a report on Sunday, April 22nd. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $70.00 price target on shares of Abbott Laboratories in a report on Thursday, July 19th. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Abbott Laboratories currently has a consensus rating of “Buy” and a consensus target price of $69.88.
Shares of NYSE:ABT opened at $64.72 on Friday. The firm has a market cap of $112.33 billion, a PE ratio of 25.89, a price-to-earnings-growth ratio of 1.79 and a beta of 1.53. The company has a current ratio of 1.58, a quick ratio of 1.16 and a debt-to-equity ratio of 0.64. Abbott Laboratories has a 52 week low of $48.58 and a 52 week high of $65.90.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, July 18th. The healthcare product maker reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. The company had revenue of $7.77 billion for the quarter, compared to analyst estimates of $7.71 billion. Abbott Laboratories had a net margin of 3.13% and a return on equity of 15.30%. Abbott Laboratories’s revenue was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.62 earnings per share. equities analysts anticipate that Abbott Laboratories will post 2.88 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 15th. Investors of record on Friday, July 13th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend was Thursday, July 12th. Abbott Laboratories’s dividend payout ratio is presently 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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