BlueCrest Capital Management Ltd Invests $4.62 Million in Abbott Laboratories (ABT)

BlueCrest Capital Management Ltd acquired a new position in Abbott Laboratories (NYSE:ABT) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 103,934 shares of the healthcare product maker’s stock, valued at approximately $4,616,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in ABT. First United Bank Trust acquired a new position in shares of Abbott Laboratories in the first quarter worth about $231,000. Harvey Investment Co. LLC boosted its holdings in shares of Abbott Laboratories by 0.6% during the first quarter. Harvey Investment Co. LLC now owns 248,881 shares of the healthcare product maker’s stock worth $11,053,000 after purchasing an additional 1,580 shares during the period. Farmers & Merchants Investments Inc. boosted its holdings in shares of Abbott Laboratories by 7.6% during the first quarter. Farmers & Merchants Investments Inc. now owns 103,815 shares of the healthcare product maker’s stock worth $4,610,000 after purchasing an additional 7,309 shares during the period. Lodestar Investment Counsel LLC IL boosted its holdings in shares of Abbott Laboratories by 4.2% during the first quarter. Lodestar Investment Counsel LLC IL now owns 267,771 shares of the healthcare product maker’s stock worth $11,892,000 after purchasing an additional 10,731 shares during the period. Finally, Somerset Trust Co boosted its holdings in shares of Abbott Laboratories by 3.3% during the first quarter. Somerset Trust Co now owns 29,683 shares of the healthcare product maker’s stock worth $1,318,000 after purchasing an additional 939 shares during the period. Institutional investors own 71.50% of the company’s stock.

Several analysts recently commented on ABT shares. Stifel Nicolaus raised their price target on shares of Abbott Laboratories from $49.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, May 31st. Zacks Investment Research lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, May 31st. Jefferies Group LLC reaffirmed a “buy” rating and set a $55.00 price objective on shares of Abbott Laboratories in a research report on Friday, June 16th. BidaskClub raised shares of Abbott Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 17th. Finally, BTIG Research assumed coverage on shares of Abbott Laboratories in a research report on Wednesday, June 21st. They issued a “buy” rating and a $56.00 price target on the stock. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $52.71.

Abbott Laboratories (NYSE:ABT) opened at 52.51 on Monday. The company’s 50-day moving average is $50.14 and its 200 day moving average is $47.04. The firm has a market cap of $91.23 billion, a P/E ratio of 73.54 and a beta of 1.06. Abbott Laboratories has a 12 month low of $37.38 and a 12 month high of $52.60.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.02. The business had revenue of $6.64 billion for the quarter, compared to analysts’ expectations of $6.63 billion. Abbott Laboratories had a return on equity of 14.43% and a net margin of 4.96%. The business’s quarterly revenue was up 24.5% on a year-over-year basis. During the same period last year, the firm earned $0.55 earnings per share. Equities research analysts expect that Abbott Laboratories will post $2.49 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th will be issued a dividend of $0.265 per share. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.06 dividend on an annualized basis and a yield of 2.02%. Abbott Laboratories’s dividend payout ratio is presently 149.30%.

TRADEMARK VIOLATION WARNING: “BlueCrest Capital Management Ltd Invests $4.62 Million in Abbott Laboratories (ABT)” was reported by StockNewsTimes and is owned by of StockNewsTimes. If you are viewing this article on another domain, it was illegally copied and republished in violation of international copyright legislation. The correct version of this article can be accessed at https://stocknewstimes.com/2017/09/25/bluecrest-capital-management-ltd-buys-shares-of-103934-abbott-laboratories-abt.html.

In other news, insider Stephen R. Fussell sold 196,550 shares of Abbott Laboratories 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 sale, the insider now directly owns 221,488 shares of the company’s stock, valued at $10,963,656. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Hubert L. Allen sold 4,600 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $50.79, for a total value of $233,634.00. Following the sale, the insider now directly owns 105,479 shares in the company, valued at $5,357,278.41. The disclosure for this sale can be found here. Over the last three months, insiders have sold 218,150 shares of company stock worth $10,811,179. Insiders own 0.76% of the company’s stock.

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.

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

Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply