Xact Kapitalforvaltning AB grew its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 267,457 shares of the healthcare product maker’s stock after buying an additional 4,111 shares during the period. Xact Kapitalforvaltning AB’s holdings in Abbott Laboratories were worth $13,001,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Cypress Capital Management LLC WY lifted its position in shares of Abbott Laboratories by 37.9% during the 1st quarter. Cypress Capital Management LLC WY now owns 2,531 shares of the healthcare product maker’s stock valued at $112,000 after buying an additional 696 shares in the last quarter. Feltz Wealth PLAN Inc. purchased a new position in Abbott Laboratories in the 1st quarter worth approximately $112,000. Atwood & Palmer Inc. lifted its holdings in Abbott Laboratories by 157.5% in the 1st quarter. Atwood & Palmer Inc. now owns 3,270 shares of the healthcare product maker’s stock worth $145,000 after purchasing an additional 2,000 shares in the last quarter. Independent Portfolio Consultants Inc. lifted its holdings in Abbott Laboratories by 9.3% in the 1st quarter. Independent Portfolio Consultants Inc. now owns 3,420 shares of the healthcare product maker’s stock worth $152,000 after purchasing an additional 292 shares in the last quarter. Finally, Farmers National Bank lifted its holdings in Abbott Laboratories by 1.5% in the 1st quarter. Farmers National Bank now owns 3,568 shares of the healthcare product maker’s stock worth $158,000 after purchasing an additional 52 shares in the last quarter. 71.66% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently commented on ABT shares. TheStreet raised Abbott Laboratories from a “c+” rating to a “b” rating in a report on Monday, July 3rd. Guggenheim started coverage on Abbott Laboratories in a report on Thursday, June 29th. They issued a “buy” rating and a $58.00 price target on the stock. Zacks Investment Research raised Abbott Laboratories from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Wednesday, June 21st. BTIG Research started coverage on Abbott Laboratories in a report on Wednesday, June 21st. They issued a “buy” rating and a $56.00 price target on the stock. Finally, Stifel Nicolaus boosted their price target on Abbott Laboratories from $49.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, May 31st. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Abbott Laboratories has a consensus rating of “Buy” and an average target price of $52.50.
In related news, insider Hubert L. Allen sold 4,600 shares of the stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $50.79, for a total value of $233,634.00. Following the completion of the sale, the insider now owns 105,479 shares of the company’s stock, valued at $5,357,278.41. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Stephen R. Fussell sold 196,550 shares of the stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $49.50, for a total value of $9,729,225.00. Following the completion of the sale, the insider now directly owns 221,488 shares of the company’s stock, valued at approximately $10,963,656. The disclosure for this sale can be found here. In the last ninety days, insiders sold 218,150 shares of company stock valued at $10,811,179. Insiders own 0.76% of the company’s stock.
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Abbott Laboratories (NYSE:ABT) traded up 0.14% during mid-day trading on Friday, reaching $51.76. The company’s stock had a trading volume of 6,699,659 shares. The firm’s 50 day moving average is $50.01 and its 200-day moving average is $46.93. The company has a market cap of $89.93 billion, a PE ratio of 72.49 and a beta of 1.06. Abbott Laboratories has a 12-month low of $37.38 and a 12-month high of $52.60.
Abbott Laboratories (NYSE:ABT) last released its earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.02. The business had revenue of $6.64 billion for the quarter, compared to the consensus estimate of $6.63 billion. Abbott Laboratories had a return on equity of 14.43% and a net margin of 4.96%. The business’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.55 earnings per share. Equities analysts anticipate that Abbott Laboratories will post $2.49 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be issued a $0.265 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.06 annualized dividend and a dividend yield of 2.05%. Abbott Laboratories’s dividend payout ratio is presently 149.30%.
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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