Meeder Asset Management Inc. raised its stake in shares of Abbott Laboratories (NYSE:ABT) by 21.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,250 shares of the healthcare product maker’s stock after buying an additional 6,114 shares during the period. Meeder Asset Management Inc.’s holdings in Abbott Laboratories were worth $1,385,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in ABT. Lodestar Investment Counsel LLC IL increased its stake 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. Murphy Pohlad Asset Management LLC increased its stake 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. Stokes & Hubbell Capital Management LLC increased its stake in shares of Abbott Laboratories by 2.4% in the first quarter. Stokes & Hubbell Capital Management LLC now owns 43,503 shares of the healthcare product maker’s stock valued at $1,820,000 after buying an additional 1,004 shares in the last quarter. Moreno Evelyn V increased its stake in shares of Abbott Laboratories by 3.7% in the first quarter. Moreno Evelyn V now owns 79,780 shares of the healthcare product maker’s stock valued at $3,338,000 after buying an additional 2,855 shares in the last quarter. Finally, Rosenbaum Jay D. increased its stake in shares of Abbott Laboratories by 6.1% in the first quarter. Rosenbaum Jay D. now owns 37,005 shares of the healthcare product maker’s stock valued at $1,548,000 after buying an additional 2,130 shares in the last quarter. 73.03% of the stock is owned by institutional investors and hedge funds.
Shares of Abbott Laboratories (NYSE:ABT) traded up 2.05% during trading on Friday, hitting $42.29. The stock had a trading volume of 7,451,020 shares. The firm has a 50 day moving average price of $42.58 and a 200-day moving average price of $41.29. Abbott Laboratories has a 52 week low of $36.00 and a 52 week high of $46.38. The stock has a market capitalization of $62.17 billion, a price-to-earnings ratio of 27.91 and a beta of 0.82.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, July 20th. The healthcare product maker reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. The firm 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%. The company’s revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.52 EPS.
The business also recently declared 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 annualized dividend and a yield of 2.46%. Abbott Laboratories’s payout ratio is 68.87%.
A number of research firms have recently weighed in on ABT. Bank of America Corp. reissued a “buy” rating and set a $50.00 target price on shares of Abbott Laboratories in a report on Friday, August 12th. Deutsche Bank AG reiterated a “buy” rating on shares of Abbott Laboratories in a research report on Tuesday, August 9th. Jefferies Group lifted their target price on Abbott Laboratories from $49.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. BTIG Research reiterated a “buy” rating and issued a $45.00 target price on shares of Abbott Laboratories in a research report on Wednesday, August 10th. Finally, TheStreet upgraded Abbott Laboratories from a “hold” rating to a “buy” rating in a research report on Monday, August 22nd. Six analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $47.02.
In other news, SVP Daniel Gesua Sive Salvadori sold 815 shares of Abbott Laboratories stock in a transaction that occurred on Monday, September 26th. The stock was sold at an average price of $41.71, for a total value of $33,993.65. Following the sale, the senior vice president now directly owns 59,791 shares in the company, valued at approximately $2,493,882.61. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Miles D. White acquired 242,547 shares of the business’s stock in a transaction dated Monday, July 25th. The stock was acquired 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 owns 2,010,517 shares in the company, valued at approximately $86,814,124.06. The disclosure for this purchase can be found here. Corporate 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.
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