FUKOKU MUTUAL LIFE INSURANCE Co lowered its position in shares of Abbott Laboratories (NYSE:ABT) by 8.3% during the second quarter, according to its most recent filing with the SEC. The fund owned 10,000 shares of the healthcare product maker’s stock after selling 900 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Abbott Laboratories were worth $393,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Mondrian Investment Partners LTD bought a new stake in shares of Abbott Laboratories during the first quarter worth $268,822,000. Flossbach Von Storch AG boosted its stake in shares of Abbott Laboratories by 51.5% in the second quarter. Flossbach Von Storch AG now owns 14,514,773 shares of the healthcare product maker’s stock worth $570,576,000 after buying an additional 4,936,655 shares during the period. Old Mutual Global Investors UK Ltd. boosted its stake in shares of Abbott Laboratories by 34,061.1% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 2,998,999 shares of the healthcare product maker’s stock worth $117,890,000 after buying an additional 2,990,220 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Abbott Laboratories by 26.4% in the second quarter. Ameriprise Financial Inc. now owns 10,958,137 shares of the healthcare product maker’s stock worth $430,746,000 after buying an additional 2,287,204 shares during the period. Finally, Bank of Montreal Can bought a new stake in shares of Abbott Laboratories during the second quarter worth $82,768,000. Institutional investors and hedge funds own 73.03% of the company’s stock.
Abbott Laboratories (NYSE:ABT) opened at 42.19 on Friday. The company’s 50 day moving average price is $43.02 and its 200-day moving average price is $41.20. Abbott Laboratories has a 12-month low of $36.00 and a 12-month high of $46.38. The company has a market capitalization of $62.02 billion, a P/E ratio of 27.85 and a beta of 0.82.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, July 20th. The healthcare product maker reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The business had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.24 billion. Abbott Laboratories had a return on equity of 15.11% and a net margin of 11.08%. Abbott Laboratories’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Friday, October 14th will be given a dividend of $0.26 per share. The ex-dividend date is Wednesday, October 12th. This represents a $1.04 dividend on an annualized basis and a yield of 2.47%. Abbott Laboratories’s dividend payout ratio is currently 68.87%.
A number of analysts have weighed in on ABT shares. Barclays PLC reiterated an “overweight” rating and issued a $48.00 price target on shares of Abbott Laboratories in a research report on Tuesday, July 12th. TheStreet raised Abbott Laboratories from a “hold” rating to a “buy” rating in a research note on Monday, August 22nd. Bank of America Corp. reissued a “buy” rating and issued a $50.00 price objective on shares of Abbott Laboratories in a research note on Friday, August 12th. Credit Suisse Group AG reissued a “buy” rating on shares of Abbott Laboratories in a research note on Wednesday, June 8th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $48.00 price objective on shares of Abbott Laboratories in a research note on Monday, September 19th. Six equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Abbott Laboratories presently has an average rating of “Buy” and a consensus price target of $47.02.
In other Abbott Laboratories news, VP Robert E. Funck sold 26,800 shares of Abbott Laboratories stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $43.08, for a total transaction of $1,154,544.00. Following the transaction, the vice president now directly owns 111,819 shares of the company’s stock, valued at approximately $4,817,162.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Hubert L. Allen sold 3,400 shares of Abbott Laboratories stock in a transaction dated Tuesday, June 28th. The stock was sold at an average price of $37.14, for a total value of $126,276.00. Following the transaction, the executive vice president now directly owns 91,857 shares in the company, valued at $3,411,568.98. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.
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.
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