Abbott Laboratories (ABT) Stake Boosted by Warren Averett Asset Management LLC

Warren Averett Asset Management LLC lifted its holdings in Abbott Laboratories (NYSE:ABT) by 0.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,182 shares of the healthcare product maker’s stock after acquiring an additional 58 shares during the period. Warren Averett Asset Management LLC’s holdings in Abbott Laboratories were worth $641,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp boosted its stake in Abbott Laboratories by 18.9% during the first quarter. State Street Corp now owns 80,499,469 shares of the healthcare product maker’s stock valued at $3,574,987,000 after buying an additional 12,806,535 shares during the last quarter. Boston Partners boosted its stake in Abbott Laboratories by 5,663.7% during the first quarter. Boston Partners now owns 8,212,035 shares of the healthcare product maker’s stock valued at $364,696,000 after buying an additional 8,069,557 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Abbott Laboratories by 11.0% during the first quarter. Bank of New York Mellon Corp now owns 33,796,869 shares of the healthcare product maker’s stock valued at $1,500,920,000 after buying an additional 3,344,508 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Abbott Laboratories by 33.8% during the first quarter. Ameriprise Financial Inc. now owns 8,823,399 shares of the healthcare product maker’s stock valued at $391,841,000 after buying an additional 2,231,316 shares during the last quarter. Finally, Swiss National Bank boosted its stake in Abbott Laboratories by 45.3% during the first quarter. Swiss National Bank now owns 6,528,788 shares of the healthcare product maker’s stock valued at $289,943,000 after buying an additional 2,035,170 shares during the last quarter. 71.50% of the stock is owned by hedge funds and other institutional investors.

ABT has been the subject of a number of research reports. Zacks Investment Research lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Royal Bank Of Canada reissued a “buy” rating and set a $55.00 price target on shares of Abbott Laboratories in a research note on Tuesday, October 3rd. Wells Fargo & Company reissued an “outperform” rating and set a $54.00 price target (up from $47.50) on shares of Abbott Laboratories in a research note on Friday, June 30th. Barclays PLC reissued an “overweight” rating and set a $57.00 price target (up from $52.00) on shares of Abbott Laboratories in a research note on Saturday, July 22nd. Finally, TheStreet raised Abbott Laboratories from a “c+” rating to a “b” rating in a research note on Monday, July 3rd. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $54.75.

ILLEGAL ACTIVITY WARNING: “Abbott Laboratories (ABT) Stake Boosted by Warren Averett Asset Management LLC” was first reported by Transcript Daily and is the property of of Transcript Daily. If you are accessing this piece of content on another website, it was stolen and reposted in violation of U.S. & international copyright law. The original version of this piece of content can be viewed at https://transcriptdaily.com/2017/10/08/abbott-laboratories-abt-stake-boosted-by-warren-averett-asset-management-llc.html.

Shares of Abbott Laboratories (NYSE ABT) opened at 55.00 on Friday. The stock has a market capitalization of $95.56 billion, a P/E ratio of 77.03 and a beta of 1.06. The stock has a 50 day moving average price of $51.71 and a 200 day moving average price of $47.76. Abbott Laboratories has a one year low of $37.38 and a one year high of $55.11.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Thursday, July 20th. The healthcare product maker reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. Abbott Laboratories had a return on equity of 14.43% and a net margin of 4.96%. The firm had revenue of $6.64 billion for the quarter, compared to analysts’ expectations of $6.63 billion. During the same period in the prior year, the firm posted $0.55 earnings per share. The firm’s quarterly revenue was up 24.5% on a year-over-year basis. Equities analysts forecast that Abbott Laboratories will post $2.49 earnings per share for the current year.

The firm also recently disclosed 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. This represents a $1.06 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Thursday, October 12th. Abbott Laboratories’s dividend payout ratio is presently 149.30%.

In related news, insider Brian J. Blaser sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $50.00, for a total value of $750,000.00. Following the transaction, the insider now directly owns 143,154 shares in the company, valued at $7,157,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel Gesua Sive Salvadori sold 62,460 shares of the company’s stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $52.95, for a total value of $3,307,257.00. Following the completion of the transaction, the insider now owns 113,426 shares in the company, valued at $6,005,906.70. The disclosure for this sale can be found here. Insiders sold 333,310 shares of company stock worth $16,857,255 over the last quarter. 0.76% of the stock is currently owned by insiders.

About Abbott Laboratories

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.

Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply