Westpac Banking Corp cut its holdings in shares of Abbott Laboratories (NYSE:ABT) by 2.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 527,130 shares of the healthcare product maker’s stock after selling 15,062 shares during the quarter. Westpac Banking Corp’s holdings in Abbott Laboratories were worth $25,624,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the business. Delta Lloyd Asset Management N.V. bought a new stake in Abbott Laboratories during the 2nd quarter worth about $12,390,000. Swiss National Bank lifted its position in Abbott Laboratories by 3.2% during the 2nd quarter. Swiss National Bank now owns 6,738,388 shares of the healthcare product maker’s stock worth $327,553,000 after buying an additional 209,600 shares in the last quarter. Bronfman E.L. Rothschild L.P. lifted its position in Abbott Laboratories by 18.6% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 19,037 shares of the healthcare product maker’s stock worth $925,000 after buying an additional 2,979 shares in the last quarter. Thomas White International Ltd. lifted its position in Abbott Laboratories by 117.9% during the 2nd quarter. Thomas White International Ltd. now owns 21,954 shares of the healthcare product maker’s stock worth $1,067,000 after buying an additional 11,879 shares in the last quarter. Finally, Heartland Advisors Inc. bought a new stake in Abbott Laboratories during the 2nd quarter worth about $4,308,000. 69.99% of the stock is currently owned by hedge funds and other institutional investors.
Abbott Laboratories (ABT) opened at $55.29 on Tuesday. Abbott Laboratories has a 52 week low of $37.38 and a 52 week high of $56.69. The company has a market cap of $96,240.00, a PE ratio of 23.05, a P/E/G ratio of 2.08 and a beta of 1.55. The company has a quick ratio of 2.26, a current ratio of 2.69 and a debt-to-equity ratio of 0.72.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Friday, October 13th were paid a $0.265 dividend. The ex-dividend date was Thursday, October 12th. This represents a $1.06 dividend on an annualized basis and a yield of 1.92%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 87.60%.
Several equities research analysts have commented on ABT shares. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research report on Tuesday, October 31st. Royal Bank Of Canada reissued a “buy” rating and set a $55.00 price target on shares of Abbott Laboratories in a research report on Tuesday, October 3rd. Bank of America Corporation reissued a “buy” rating and set a $60.00 price target (up from $56.00) on shares of Abbott Laboratories in a research report on Wednesday, October 4th. Jefferies Group LLC reissued a “buy” rating and set a $65.00 price target on shares of Abbott Laboratories in a research report on Thursday, October 19th. Finally, Citigroup Inc. reissued a “neutral” rating on shares of Abbott Laboratories in a research report on Thursday, October 19th. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $56.81.
In related news, insider Jaime Contreras sold 52,700 shares of the company’s stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $51.97, for a total value of $2,738,819.00. Following the transaction, the insider now owns 58,739 shares in the company, valued at approximately $3,052,665.83. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of the company’s stock in a transaction dated Monday, October 23rd. The shares were 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 in the company, valued at approximately $7,986,429.22. The disclosure for this sale can be found here. In the last quarter, insiders sold 306,786 shares of company stock worth $16,715,522. 0.76% of the stock is owned by company insiders.
About Abbott Laboratories
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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