Bessemer Group Inc. lifted its position in Abbott Laboratories (NYSE:ABT) by 12.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,874 shares of the healthcare product maker’s stock after acquiring an additional 6,131 shares during the period. Bessemer Group Inc.’s holdings in Abbott Laboratories were worth $2,716,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Winfield Associates Inc. grew its position in Abbott Laboratories by 3.9% during the second quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock valued at $116,000 after purchasing an additional 89 shares in the last quarter. V Wealth Management LLC purchased a new position in Abbott Laboratories during the second quarter valued at approximately $127,000. Atwood & Palmer Inc. grew its position in Abbott Laboratories by 157.5% during the first quarter. Atwood & Palmer Inc. now owns 3,270 shares of the healthcare product maker’s stock valued at $145,000 after purchasing an additional 2,000 shares in the last quarter. Farmers National Bank grew its position in Abbott Laboratories by 1.5% during the first quarter. Farmers National Bank now owns 3,568 shares of the healthcare product maker’s stock valued at $158,000 after purchasing an additional 52 shares in the last quarter. Finally, Advantage Investment Management LLC grew its position in Abbott Laboratories by 17.3% during the first quarter. Advantage Investment Management LLC now owns 3,674 shares of the healthcare product maker’s stock valued at $163,000 after purchasing an additional 543 shares in the last quarter. 71.50% of the stock is currently owned by institutional investors and hedge funds.
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ABT has been the topic of a number of research analyst reports. TheStreet raised shares of Abbott Laboratories from a “c+” rating to a “b” rating in a research report on Monday, July 3rd. BidaskClub downgraded shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Stifel Nicolaus reaffirmed a “buy” rating and set a $58.00 price objective on shares of Abbott Laboratories in a research report on Friday, July 21st. Jefferies Group LLC reaffirmed a “buy” rating and set a $58.00 price objective on shares of Abbott Laboratories in a research report on Thursday, June 29th. Finally, Guggenheim initiated coverage on shares of Abbott Laboratories in a research report on Thursday, June 29th. They set a “buy” rating and a $58.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $54.94.
Shares of Abbott Laboratories (NYSE:ABT) opened at 55.40 on Wednesday. Abbott Laboratories has a 52-week low of $37.38 and a 52-week high of $55.43. The firm has a 50-day moving average of $52.07 and a 200 day moving average of $47.95. The company has a market capitalization of $96.25 billion, a P/E ratio of 77.59 and a beta of 1.06.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.02. The company had revenue of $6.64 billion during the quarter, compared to analysts’ expectations of $6.63 billion. Abbott Laboratories had a net margin of 4.96% and a return on equity of 14.43%. The business’s quarterly revenue was up 24.5% on a year-over-year basis. During the same period last year, the business earned $0.55 EPS. On average, analysts anticipate that Abbott Laboratories will post $2.49 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be paid a dividend of $0.265 per share. The ex-dividend date is Thursday, October 12th. This represents a $1.06 annualized dividend and a dividend yield of 1.91%. Abbott Laboratories’s dividend payout ratio is currently 149.30%.
In other news, insider Hubert L. Allen sold 4,600 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $50.79, for a total transaction of $233,634.00. Following the completion of the transaction, the insider now directly owns 105,479 shares of the company’s stock, valued at approximately $5,357,278.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sharon J. Bracken sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $49.16, for a total transaction of $98,320.00. Following the transaction, the insider now directly owns 28,806 shares of the company’s stock, valued at $1,416,102.96. The disclosure for this sale can be found here. Insiders have sold a total of 333,310 shares of company stock valued at $16,857,255 over the last ninety days. Company insiders own 0.76% of the company’s stock.
Abbott Laboratories 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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