John G Ullman & Associates Inc. boosted its position in Abbott Laboratories (NYSE:ABT) by 348.9% during the second quarter, Holdings Channel reports. The institutional investor owned 145,871 shares of the healthcare product maker’s stock after buying an additional 113,373 shares during the period. Abbott Laboratories accounts for 1.2% of John G Ullman & Associates Inc.’s portfolio, making the stock its 29th largest position. John G Ullman & Associates Inc.’s holdings in Abbott Laboratories were worth $5,734,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Wagner Bowman Management Corp boosted its position in shares of Abbott Laboratories by 4.6% in the first quarter. Wagner Bowman Management Corp now owns 16,051 shares of the healthcare product maker’s stock valued at $671,000 after buying an additional 711 shares during the period. Iberiabank Corp boosted its position in shares of Abbott Laboratories by 35.8% in the first quarter. Iberiabank Corp now owns 10,513 shares of the healthcare product maker’s stock valued at $440,000 after buying an additional 2,771 shares during the period. Mission Wealth Management LLC boosted its position in shares of Abbott Laboratories by 41.8% in the first quarter. Mission Wealth Management LLC now owns 6,756 shares of the healthcare product maker’s stock valued at $283,000 after buying an additional 1,991 shares during the period. Culbertson A N & Co. Inc. bought a new position in shares of Abbott Laboratories during the first quarter valued at $4,005,000. Finally, Burke & Herbert Bank & Trust Co. boosted its position in shares of Abbott Laboratories by 2.0% in the first quarter. Burke & Herbert Bank & Trust Co. now owns 16,206 shares of the healthcare product maker’s stock valued at $678,000 after buying an additional 312 shares during the period. 73.03% of the stock is owned by institutional investors and hedge funds.
Shares of Abbott Laboratories (NYSE:ABT) traded down 0.07% on Friday, reaching $42.19. The company had a trading volume of 6,912,285 shares. Abbott Laboratories has a 52 week low of $36.00 and a 52 week high of $46.38. The firm has a market capitalization of $62.02 billion, a price-to-earnings ratio of 27.85 and a beta of 0.82. The stock’s 50 day moving average is $43.02 and its 200 day moving average is $41.20.
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, beating the Zacks’ consensus estimate of $0.53 by $0.02. The firm earned $5.30 billion during 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%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.52 earnings per share.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders 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 dividend yield of 2.47%. Abbott Laboratories’s payout ratio is 68.87%.
Several equities analysts have recently weighed in on ABT shares. 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. Edward Jones upgraded Abbott Laboratories from a “hold” rating to a “buy” rating in a research report on Tuesday, June 21st. Barclays PLC reiterated a “buy” rating and issued a $48.00 price target on shares of Abbott Laboratories in a research report on Saturday, June 18th. Jefferies Group lifted their price target on Abbott Laboratories from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, June 14th. Finally, Credit Suisse Group AG reiterated a “buy” rating on shares of Abbott Laboratories in a research report on Wednesday, June 8th. Six analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $47.02.
In other news, Chairman Miles D. White acquired 242,547 shares of the business’s stock in a transaction dated Monday, July 25th. The stock was purchased at an average price of $43.18 per share, for a total transaction of $10,473,179.46. Following the completion of the transaction, the chairman now directly owns 2,010,517 shares in the company, valued at approximately $86,814,124.06. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, insider Stephen R. Fussell sold 41,500 shares of the firm’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 transaction, the insider now owns 196,467 shares of the company’s stock, valued at approximately $8,841,015. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.
About Abbott Laboratories
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.