QCI Asset Management Inc. NY raised its holdings in shares of Abbott Laboratories (NYSE:ABT) by 4.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 248,296 shares of the healthcare product maker’s stock after purchasing an additional 10,099 shares during the period. QCI Asset Management Inc. NY’s holdings in Abbott Laboratories were worth $12,070,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in ABT. Boston Partners lifted its position in Abbott Laboratories by 5,663.7% during the 1st quarter. Boston Partners now owns 8,212,035 shares of the healthcare product maker’s stock valued at $364,696,000 after purchasing an additional 8,069,557 shares during the period. Henderson Group PLC raised its position in shares of Abbott Laboratories by 18.8% in the 1st quarter. Henderson Group PLC now owns 226,675 shares of the healthcare product maker’s stock valued at $10,070,000 after acquiring an additional 35,836 shares during the period. HPM Partners LLC acquired a new stake in shares of Abbott Laboratories in the 1st quarter valued at approximately $2,447,000. Pekin Singer Strauss Asset Management IL raised its position in shares of Abbott Laboratories by 0.5% in the 1st quarter. Pekin Singer Strauss Asset Management IL now owns 22,058 shares of the healthcare product maker’s stock valued at $980,000 after acquiring an additional 108 shares during the period. Finally, Princeton Alpha Management LP raised its position in shares of Abbott Laboratories by 12.2% in the 1st quarter. Princeton Alpha Management LP now owns 30,054 shares of the healthcare product maker’s stock valued at $1,335,000 after acquiring an additional 3,260 shares during the period. Institutional investors own 70.64% of the company’s stock.
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A number of analysts recently weighed in on ABT shares. Stifel Nicolaus reiterated a “buy” rating and issued a $58.00 price target on shares of Abbott Laboratories in a research report on Friday, July 21st. Barclays PLC reiterated an “overweight” rating and issued a $57.00 price target (up from $52.00) on shares of Abbott Laboratories in a research report on Saturday, July 22nd. BidaskClub downgraded shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Zacks Investment Research downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $58.00 price target on shares of Abbott Laboratories in a research report on Thursday, August 3rd. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $56.81.
Abbott Laboratories (NYSE ABT) opened at $55.54 on Friday. The firm has a market cap of $95,437.16, a P/E ratio of 22.75, a PEG ratio of 2.05 and a beta of 1.06. Abbott Laboratories has a 52 week low of $37.38 and a 52 week high of $56.69. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 2.69.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.01. The company had revenue of $6.83 billion during the quarter, compared to analysts’ expectations of $6.72 billion. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The business’s quarterly revenue was up 28.8% on a year-over-year basis. During the same period last year, the business earned $0.59 EPS. equities research analysts predict that Abbott Laboratories will post 2.5 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th were paid a dividend of $0.265 per share. The ex-dividend date of this dividend was Thursday, October 12th. This represents a $1.06 annualized dividend and a dividend yield of 1.91%. Abbott Laboratories’s dividend payout ratio is currently 83.47%.
In other news, insider Daniel Gesua Sive Salvadori sold 62,460 shares of the firm’s stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $52.95, for a total transaction of $3,307,257.00. Following the completion of the transaction, the insider now directly owns 113,426 shares of the company’s stock, valued at approximately $6,005,906.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jaime Contreras sold 52,700 shares of the firm’s stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $51.97, for a total transaction of $2,738,819.00. Following the transaction, the insider now directly owns 58,739 shares of the company’s stock, valued at $3,052,665.83. The disclosure for this sale can be found here. Insiders have sold a total of 282,920 shares of company stock valued at $15,389,766 over the last ninety days. Company insiders own 0.76% of the company’s stock.
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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