Westport Asset Management Inc. maintained its stake in shares of Abbott Laboratories (NYSE:ABT) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,000 shares of the healthcare product maker’s stock at the end of the second quarter. Westport Asset Management Inc.’s holdings in Abbott Laboratories were worth $243,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Tocqueville Asset Management L.P. grew its stake in shares of Abbott Laboratories by 1.2% in the first quarter. Tocqueville Asset Management L.P. now owns 1,027,791 shares of the healthcare product maker’s stock valued at $45,644,000 after acquiring an additional 12,528 shares in the last quarter. Atwood & Palmer Inc. grew its stake in shares of Abbott Laboratories by 157.5% in the first quarter. Atwood & Palmer Inc. now owns 3,270 shares of the healthcare product maker’s stock valued at $145,000 after acquiring an additional 2,000 shares in the last quarter. Coconut Grove Bank grew its stake in shares of Abbott Laboratories by 13.6% in the first quarter. Coconut Grove Bank now owns 14,560 shares of the healthcare product maker’s stock valued at $647,000 after acquiring an additional 1,745 shares in the last quarter. Advisor Partners LLC grew its stake in shares of Abbott Laboratories by 32.7% in the first quarter. Advisor Partners LLC now owns 28,704 shares of the healthcare product maker’s stock valued at $1,275,000 after acquiring an additional 7,079 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new position in shares of Abbott Laboratories in the first quarter valued at about $569,000. 71.35% of the stock is currently owned by institutional investors.
ABT has been the topic of several research reports. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research note on Friday, September 22nd. Cowen and Company restated a “buy” rating and issued a $55.00 price target on shares of Abbott Laboratories in a research note on Thursday, August 17th. BidaskClub downgraded shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Jefferies Group LLC restated a “buy” rating and issued a $58.00 price target on shares of Abbott Laboratories in a research note on Thursday, August 3rd. Finally, Stifel Nicolaus restated a “buy” rating and issued a $58.00 price target on shares of Abbott Laboratories in a research note on Friday, July 21st. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Abbott Laboratories presently has an average rating of “Buy” and a consensus price target of $56.81.
In other news, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of the business’s stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $56.21, for a total transaction of $5,430,054.63. Following the completion of the transaction, the executive vice president now owns 142,082 shares of the company’s stock, valued at $7,986,429.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen R. Fussell sold 196,550 shares of the business’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $49.50, for a total value of $9,729,225.00. Following the transaction, the insider now directly owns 221,488 shares of the company’s stock, valued at approximately $10,963,656. The disclosure for this sale can be found here. Insiders have sold 408,313 shares of company stock valued at $21,205,356 in the last three months. 0.76% of the stock is owned by insiders.
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Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.01. Abbott Laboratories had a return on equity of 14.50% and a net margin of 8.37%. The firm had revenue of $6.83 billion for the quarter, compared to analysts’ expectations of $6.72 billion. During the same period in the prior year, the business posted $0.59 earnings per share. The company’s revenue was up 28.8% on a year-over-year basis.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Thursday, October 12th. Abbott Laboratories’s payout ratio is 83.47%.
Abbott Laboratories Company Profile
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.
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