Cooke & Bieler LP decreased its position in shares of Abbott Laboratories (NYSE:ABT) by 26.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,161,402 shares of the healthcare product maker’s stock after selling 778,980 shares during the period. Abbott Laboratories makes up approximately 2.0% of Cooke & Bieler LP’s investment portfolio, making the stock its 13th biggest position. Cooke & Bieler LP owned 0.12% of Abbott Laboratories worth $105,066,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Winfield Associates Inc. grew its position in shares of Abbott Laboratories by 3.9% during the second quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock valued at $116,000 after purchasing an additional 89 shares in the last quarter. V Wealth Management LLC purchased a new position in shares of Abbott Laboratories during the second quarter valued at about $127,000. JFS Wealth Advisors LLC grew its position in shares of Abbott Laboratories by 349.0% during the second quarter. JFS Wealth Advisors LLC now owns 2,694 shares of the healthcare product maker’s stock valued at $131,000 after purchasing an additional 2,094 shares in the last quarter. Farmers National Bank grew its position in shares of Abbott Laboratories by 1.5% during the first quarter. Farmers National Bank now owns 3,568 shares of the healthcare product maker’s stock valued at $158,000 after purchasing an additional 52 shares in the last quarter. Finally, Advantage Investment Management LLC grew its position in shares of Abbott Laboratories by 17.3% during the first quarter. Advantage Investment Management LLC now owns 3,674 shares of the healthcare product maker’s stock valued at $163,000 after purchasing an additional 543 shares in the last quarter. Hedge funds and other institutional investors own 71.35% of the company’s stock.
Shares of Abbott Laboratories (ABT) opened at $55.47 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.94 and a quick ratio of 2.41. Abbott Laboratories has a 12 month low of $37.38 and a 12 month high of $56.69. The stock has a market cap of $96,551.14, a PE ratio of 23.02, a price-to-earnings-growth ratio of 2.08 and a beta of 1.06.
Abbott Laboratories (NYSE:ABT) last posted 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 net margin of 8.37% and a return on equity of 14.50%. The firm had revenue of $6.83 billion during the quarter, compared to the consensus estimate of $6.72 billion. During the same quarter in the previous year, the firm posted $0.59 earnings per share. The company’s revenue was up 28.8% on a year-over-year basis. equities analysts forecast that Abbott Laboratories will post 2.5 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be paid a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend is Thursday, October 12th. Abbott Laboratories’s dividend payout ratio is presently 83.47%.
In other news, insider Jaime Contreras sold 52,700 shares of Abbott Laboratories stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $51.97, for a total transaction of $2,738,819.00. Following the completion of the sale, the insider now owns 58,739 shares of the company’s stock, valued at $3,052,665.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stephen R. Fussell sold 196,550 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $49.50, for a total transaction of $9,729,225.00. Following the sale, 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 ninety days. Insiders own 0.76% of the company’s stock.
A number of brokerages recently commented on ABT. Jefferies Group LLC reaffirmed a “buy” rating and issued a $65.00 price target on shares of Abbott Laboratories in a report on Thursday, October 19th. Royal Bank Of Canada increased their price target on shares of Abbott Laboratories from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, October 19th. Stifel Nicolaus increased their price target on shares of Abbott Laboratories from $58.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, October 19th. Cowen and Company set a $68.00 price target on shares of Abbott Laboratories and gave the company a “buy” rating in a report on Thursday, October 19th. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Abbott Laboratories in a report on Thursday, October 19th. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $56.81.
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Abbott Laboratories 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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