Strs Ohio lessened its position in shares of Abbott Laboratories (NYSE:ABT) by 8.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,164,505 shares of the healthcare product maker’s stock after selling 111,616 shares during the period. Strs Ohio owned about 0.07% of Abbott Laboratories worth $71,023,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the business. Spinnaker Trust increased its position in shares of Abbott Laboratories by 6.4% during the 1st quarter. Spinnaker Trust now owns 32,698 shares of the healthcare product maker’s stock valued at $1,958,000 after purchasing an additional 1,972 shares during the period. Aspiriant LLC increased its position in shares of Abbott Laboratories by 788.5% during the 1st quarter. Aspiriant LLC now owns 34,606 shares of the healthcare product maker’s stock valued at $2,074,000 after purchasing an additional 30,711 shares during the period. Huber Financial Advisors LLC increased its position in shares of Abbott Laboratories by 56.4% during the 2nd quarter. Huber Financial Advisors LLC now owns 10,893 shares of the healthcare product maker’s stock valued at $664,000 after purchasing an additional 3,930 shares during the period. Advisor Partners LLC boosted its stake in shares of Abbott Laboratories by 11.7% during the 2nd quarter. Advisor Partners LLC now owns 46,893 shares of the healthcare product maker’s stock worth $2,860,000 after acquiring an additional 4,928 shares in the last quarter. Finally, Bremer Trust National Association boosted its stake in shares of Abbott Laboratories by 103.1% during the 2nd quarter. Bremer Trust National Association now owns 40,864 shares of the healthcare product maker’s stock worth $2,492,000 after acquiring an additional 20,739 shares in the last quarter. 72.00% of the stock is currently owned by institutional investors.
Several equities research analysts have recently weighed in on the company. Royal Bank of Canada reissued a “buy” rating and set a $70.00 price objective on shares of Abbott Laboratories in a research note on Thursday, July 19th. Zacks Investment Research lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 31st. Sanford C. Bernstein assumed coverage on Abbott Laboratories in a research note on Wednesday, June 27th. They set an “outperform” rating and a $73.00 price objective for the company. Citigroup reduced their price objective on Abbott Laboratories from $66.00 to $65.00 and set a “neutral” rating for the company in a research note on Tuesday, April 24th. Finally, Stifel Nicolaus raised their price objective on Abbott Laboratories from $71.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, July 19th. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Abbott Laboratories has an average rating of “Buy” and a consensus target price of $69.88.
Shares of Abbott Laboratories stock opened at $64.88 on Tuesday. The firm has a market capitalization of $113.54 billion, a PE ratio of 25.98, a price-to-earnings-growth ratio of 1.81 and a beta of 1.53. The company has a quick ratio of 1.16, a current ratio of 1.58 and a debt-to-equity ratio of 0.64. Abbott Laboratories has a 12 month low of $48.58 and a 12 month high of $65.90.
Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, July 18th. The healthcare product maker reported $0.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.02. The business had revenue of $7.77 billion during the quarter, compared to analysts’ expectations of $7.71 billion. Abbott Laboratories had a return on equity of 15.30% and a net margin of 3.13%. Abbott Laboratories’s revenue was up 17.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.62 earnings per share. analysts predict that Abbott Laboratories will post 2.88 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 15th. Stockholders of record on Friday, July 13th were given a $0.28 dividend. The ex-dividend date was Thursday, July 12th. This represents a $1.12 annualized dividend and a dividend yield of 1.73%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.80%.
In other news, insider Michael J. Pederson sold 1,050 shares of the firm’s stock in a transaction on Tuesday, July 24th. The stock was sold at an average price of $63.43, for a total value of $66,601.50. Following the completion of the sale, the insider now owns 79,467 shares of the company’s stock, valued at $5,040,591.81. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Brian J. Blaser sold 15,100 shares of the firm’s stock in a transaction on Tuesday, July 24th. The stock was sold at an average price of $63.96, for a total value of $965,796.00. Following the completion of the sale, the executive vice president now directly owns 151,718 shares of the company’s stock, valued at approximately $9,703,883.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,024 shares of company stock valued at $1,088,840. 0.74% of the stock is currently owned by 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 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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