Commonwealth Bank of Australia Sells 73,345 Shares of Abbott Laboratories (ABT)

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Commonwealth Bank of Australia trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT) by 51.3% in the second quarter, Holdings Channel reports. The institutional investor owned 69,648 shares of the healthcare product maker’s stock after selling 73,345 shares during the period. Commonwealth Bank of Australia’s holdings in Abbott Laboratories were worth $4,241,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of ABT. American Century Companies Inc. raised its holdings in shares of Abbott Laboratories by 417.9% in the 2nd quarter. American Century Companies Inc. now owns 5,586,119 shares of the healthcare product maker’s stock valued at $340,697,000 after purchasing an additional 4,507,553 shares during the period. Spinnaker Trust raised its holdings in shares of Abbott Laboratories by 6.4% in 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. Deltec Asset Management LLC raised its holdings in shares of Abbott Laboratories by 17.7% in the 2nd quarter. Deltec Asset Management LLC now owns 159,800 shares of the healthcare product maker’s stock valued at $9,746,000 after purchasing an additional 24,000 shares during the period. Huber Financial Advisors LLC raised its holdings in shares of Abbott Laboratories by 56.4% in 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. Finally, Aspiriant LLC raised its holdings in shares of Abbott Laboratories by 788.5% in 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. Institutional investors own 72.48% of the company’s stock.

In other news, EVP Brian J. Blaser sold 15,100 shares of the firm’s stock in a transaction that occurred on Tuesday, July 24th. The shares were sold at an average price of $63.96, for a total transaction of $965,796.00. Following the transaction, the executive vice president now directly owns 151,718 shares of the company’s stock, valued at $9,703,883.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael J. Pederson sold 1,050 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $5,040,591.81. The disclosure for this sale can be found here. Insiders have sold 90,389 shares of company stock worth $5,995,012 over the last ninety days. Insiders own 0.74% of the company’s stock.

Several research analysts have weighed in on the stock. Zacks Investment Research cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 31st. Stifel Nicolaus increased their price target on shares of Abbott Laboratories from $71.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, July 19th. Royal Bank of Canada reissued a “buy” rating and issued a $70.00 price target on shares of Abbott Laboratories in a report on Thursday, July 19th. Finally, Sanford C. Bernstein assumed coverage on shares of Abbott Laboratories in a report on Wednesday, June 27th. They issued an “outperform” rating and a $73.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $69.88.

Abbott Laboratories stock opened at $66.21 on Friday. Abbott Laboratories has a twelve month low of $51.29 and a twelve month high of $67.36. The stock has a market capitalization of $115.49 billion, a price-to-earnings ratio of 24.20, a P/E/G ratio of 1.84 and a beta of 1.48. 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 (NYSE:ABT) last announced 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. 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 analysts’ expectations of $7.71 billion. During the same period last year, the firm earned $0.62 earnings per share. The business’s revenue for the quarter was up 17.0% on a year-over-year basis. equities analysts forecast that Abbott Laboratories will post 2.88 earnings per share for the current fiscal year.

Abbott Laboratories Company 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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