Profund Advisors LLC Has $4.38 Million Stock Holdings in Abbott Laboratories (NYSE:ABT)

Profund Advisors LLC lessened its position in shares of Abbott Laboratories (NYSE:ABT) by 20.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,077 shares of the healthcare product maker’s stock after selling 13,250 shares during the quarter. Profund Advisors LLC’s holdings in Abbott Laboratories were worth $4,380,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of ABT. Manchester Financial Inc. bought a new stake in shares of Abbott Laboratories in the second quarter worth about $30,000. Front Row Advisors LLC increased its holdings in shares of Abbott Laboratories by 790.9% in the first quarter. Front Row Advisors LLC now owns 392 shares of the healthcare product maker’s stock worth $31,000 after acquiring an additional 348 shares in the last quarter. Weaver Consulting Group bought a new stake in shares of Abbott Laboratories in the first quarter worth about $33,000. Redhawk Wealth Advisors Inc. bought a new stake in shares of Abbott Laboratories in the second quarter worth about $33,000. Finally, Pearl River Capital LLC bought a new stake in shares of Abbott Laboratories in the second quarter worth about $41,000. 73.84% of the stock is currently owned by institutional investors and hedge funds.

In other news, insider Hubert L. Allen sold 165,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $85.00, for a total value of $14,025,000.00. Following the completion of the sale, the insider now directly owns 311,010 shares of the company’s stock, valued at $26,435,850. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Sally E. Blount sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $87.65, for a total value of $219,125.00. Following the completion of the sale, the director now directly owns 26,266 shares of the company’s stock, valued at $2,302,214.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 464,397 shares of company stock valued at $39,677,310. Insiders own 0.70% of the company’s stock.

ABT has been the subject of a number of research reports. Cowen increased their price objective on Abbott Laboratories from $86.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Wells Fargo & Co increased their price objective on Abbott Laboratories from $89.00 to $91.00 and gave the stock an “outperform” rating in a report on Thursday, June 13th. Jefferies Financial Group increased their price objective on Abbott Laboratories from $80.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Raymond James increased their price objective on Abbott Laboratories from $87.00 to $93.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Finally, Zacks Investment Research downgraded Abbott Laboratories from a “buy” rating to a “hold” rating and set a $93.00 price objective for the company. in a report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $86.38.

ABT stock traded down $1.11 during mid-day trading on Friday, reaching $84.10. The company had a trading volume of 121,713 shares, compared to its average volume of 4,116,040. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.68 and a quick ratio of 1.20. The stock has a 50 day simple moving average of $85.33 and a two-hundred day simple moving average of $81.08. The company has a market capitalization of $147.07 billion, a price-to-earnings ratio of 29.15, a PEG ratio of 2.34 and a beta of 1.14. Abbott Laboratories has a 52 week low of $65.44 and a 52 week high of $88.76.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, July 17th. The healthcare product maker reported $0.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.02. The firm had revenue of $7.98 billion during the quarter, compared to the consensus estimate of $8 billion. Abbott Laboratories had a return on equity of 17.26% and a net margin of 9.36%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company earned $0.73 earnings per share. On average, equities analysts predict that Abbott Laboratories will post 3.24 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.52%. Abbott Laboratories’s payout ratio is 44.44%.

Abbott Laboratories Profile

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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