Schaper Benz & Wise Investment Counsel Inc. WI lowered its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 203,102 shares of the healthcare product maker’s stock after selling 2,170 shares during the period. Schaper Benz & Wise Investment Counsel Inc. WI’s holdings in Abbott Laboratories were worth $9,020,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of the company. Macquarie Group Ltd. boosted its position in shares of Abbott Laboratories by 11.5% in the fourth quarter. Macquarie Group Ltd. now owns 19,694,052 shares of the healthcare product maker’s stock worth $756,449,000 after buying an additional 2,025,512 shares during the period. Norges Bank purchased a new position in Abbott Laboratories during the fourth quarter worth approximately $598,897,000. UBS Asset Management Americas Inc. boosted its position in Abbott Laboratories by 57.1% in the fourth quarter. UBS Asset Management Americas Inc. now owns 6,525,001 shares of the healthcare product maker’s stock worth $250,625,000 after buying an additional 2,370,573 shares during the last quarter. Westwood Holdings Group Inc. purchased a new position in Abbott Laboratories during the fourth quarter worth approximately $168,455,000. Finally, Credit Agricole S A boosted its position in Abbott Laboratories by 1.4% in the fourth quarter. Credit Agricole S A now owns 3,326,528 shares of the healthcare product maker’s stock worth $127,772,000 after buying an additional 44,648 shares during the last quarter. Institutional investors and hedge funds own 71.02% of the company’s stock.
Shares of Abbott Laboratories (ABT) opened at 48.76 on Tuesday. The firm has a 50-day moving average price of $46.26 and a 200-day moving average price of $43.65. The stock has a market capitalization of $84.61 billion, a P/E ratio of 50.74 and a beta of 1.06. Abbott Laboratories has a 52-week low of $37.38 and a 52-week high of $49.59.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, April 19th. The healthcare product maker reported $0.48 EPS for the quarter, topping the consensus estimate of $0.43 by $0.05. Abbott Laboratories had a return on equity of 14.91% and a net margin of 6.74%. The firm had revenue of $6.34 billion during the quarter, compared to analyst estimates of $6.16 billion. During the same period in the prior year, the business posted $0.41 EPS. Abbott Laboratories’s revenue was up 29.7% on a year-over-year basis. On average, analysts predict that Abbott Laboratories will post $2.47 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Friday, July 14th will be issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Wednesday, July 12th. Abbott Laboratories’s payout ratio is 110.42%.
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ABT has been the topic of several recent analyst reports. Cowen and Company reaffirmed an “outperform” rating and issued a $48.00 price target on shares of Abbott Laboratories in a report on Saturday, April 22nd. Jefferies Group LLC reiterated a “buy” rating and set a $58.00 target price on shares of Abbott Laboratories in a research note on Thursday, June 29th. TheStreet upgraded shares of Abbott Laboratories from a “c+” rating to a “b” rating in a research report on Monday, July 3rd. Zacks Investment Research lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, May 31st. Finally, Stifel Nicolaus upped their price objective on shares of Abbott Laboratories from $49.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, May 31st. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $51.33.
In related news, insider Jared Watkin sold 552 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $47.97, for a total transaction of $26,479.44. Following the transaction, the insider now directly owns 47,090 shares of the company’s stock, valued at $2,258,907.30. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Joseph J. Manning sold 4,200 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, April 26th. The shares were sold at an average price of $43.95, for a total transaction of $184,590.00. Following the transaction, the insider now directly owns 26,224 shares in the company, valued at $1,152,544.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 206,902 shares of company stock valued at $9,497,761. 0.76% of the stock is owned by insiders.
Abbott Laboratories Company Profile
Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.
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