Boston Advisors LLC lowered its stake in shares of Abbott Laboratories (NYSE:ABT) by 2.5% during the second quarter, Holdings Channel reports. The institutional investor owned 72,352 shares of the healthcare product maker’s stock after selling 1,892 shares during the period. Boston Advisors LLC’s holdings in Abbott Laboratories were worth $2,844,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Murphy Pohlad Asset Management LLC boosted its position in shares of Abbott Laboratories by 0.5% in the first quarter. Murphy Pohlad Asset Management LLC now owns 41,396 shares of the healthcare product maker’s stock valued at $1,731,000 after buying an additional 200 shares in the last quarter. Lodestar Investment Counsel LLC IL boosted its position in shares of Abbott Laboratories by 6.8% in the first quarter. Lodestar Investment Counsel LLC IL now owns 133,644 shares of the healthcare product maker’s stock valued at $5,590,000 after buying an additional 8,466 shares in the last quarter. PGGM Investments purchased a new position in shares of Abbott Laboratories during the first quarter valued at $10,430,000. Douglas Lane & Associates LLC purchased a new position in shares of Abbott Laboratories during the first quarter valued at $4,231,000. Finally, IMS Capital Management boosted its position in shares of Abbott Laboratories by 4.1% in the first quarter. IMS Capital Management now owns 13,280 shares of the healthcare product maker’s stock valued at $556,000 after buying an additional 524 shares in the last quarter. 73.03% of the stock is owned by institutional investors and hedge funds.
Abbott Laboratories (NYSE:ABT) remained flat at $42.97 during mid-day trading on Friday. 7,249,757 shares of the company were exchanged. The firm’s 50-day moving average is $42.27 and its 200 day moving average is $41.37. The firm has a market cap of $63.17 billion, a PE ratio of 28.36 and a beta of 0.87. Abbott Laboratories has a 12-month low of $36.00 and a 12-month high of $46.38.
Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, July 20th. The healthcare product maker reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. Abbott Laboratories had a return on equity of 15.11% and a net margin of 11.08%. The firm earned $5.30 billion during the quarter, compared to analysts’ expectations of $5.24 billion. During the same period in the previous year, the firm earned $0.52 earnings per share. The company’s revenue was up 3.2% on a year-over-year basis. Analysts anticipate that Abbott Laboratories will post ($0.01) earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, October 12th. This represents a $1.04 dividend on an annualized basis and a yield of 2.42%. Abbott Laboratories’s payout ratio is 68.87%.
Several research analysts recently weighed in on ABT shares. Jefferies Group raised their target price on Abbott Laboratories from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, June 14th. Barclays PLC reaffirmed a “buy” rating and set a $48.00 target price on shares of Abbott Laboratories in a research note on Saturday, June 18th. Edward Jones raised Abbott Laboratories from a “hold” rating to a “buy” rating in a research note on Tuesday, June 21st. Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research report on Tuesday, July 5th. Finally, Argus reiterated a “buy” rating and issued a $55.00 price target on shares of Abbott Laboratories in a research report on Thursday, July 28th. Seven research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Abbott Laboratories presently has a consensus rating of “Buy” and a consensus price target of $47.02.
In other Abbott Laboratories news, SVP Daniel Gesua Sive Salvadori sold 815 shares of the business’s stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $41.71, for a total value of $33,993.65. Following the completion of the transaction, the senior vice president now directly owns 59,791 shares of the company’s stock, valued at $2,493,882.61. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Stephen R. Fussell sold 41,500 shares of the business’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $45.00, for a total value of $1,867,500.00. Following the completion of the transaction, the insider now directly owns 196,467 shares of the company’s stock, valued at $8,841,015. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.
Abbott Laboratories Company Profile
Abbott Laboratories (Abbott) is engaged in the discovery, development, manufacture and sale of a line of healthcare products. The Company operates in four business segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. The Established Pharmaceutical Products segment includes the international sales of a line of branded generic pharmaceutical products.
Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades 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.