Abbott Laboratories (ABT) Holdings Lifted by Provident Investment Management Inc.

Provident Investment Management Inc. raised its stake in Abbott Laboratories (NYSE:ABT) by 4,437.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 444,685 shares of the healthcare product maker’s stock after buying an additional 434,884 shares during the quarter. Abbott Laboratories comprises approximately 3.9% of Provident Investment Management Inc.’s investment portfolio, making the stock its 15th biggest holding. Provident Investment Management Inc.’s holdings in Abbott Laboratories were worth $21,616,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ABT. Sanders Morris Harris LLC increased its holdings in shares of Abbott Laboratories by 0.3% in the second quarter. Sanders Morris Harris LLC now owns 4,986 shares of the healthcare product maker’s stock valued at $242,000 after purchasing an additional 16 shares during the last quarter. St. Louis Trust Co increased its holdings in shares of Abbott Laboratories by 0.4% in the second quarter. St. Louis Trust Co now owns 4,904 shares of the healthcare product maker’s stock valued at $238,000 after purchasing an additional 20 shares during the last quarter. Alpha Windward LLC increased its holdings in shares of Abbott Laboratories by 0.6% in the second quarter. Alpha Windward LLC now owns 5,434 shares of the healthcare product maker’s stock valued at $264,000 after purchasing an additional 30 shares during the last quarter. Lakeview Capital Partners LLC increased its holdings in shares of Abbott Laboratories by 0.6% in the second quarter. Lakeview Capital Partners LLC now owns 5,691 shares of the healthcare product maker’s stock valued at $277,000 after purchasing an additional 33 shares during the last quarter. Finally, Johanson Financial Advisors Inc. increased its holdings in shares of Abbott Laboratories by 0.5% in the second quarter. Johanson Financial Advisors Inc. now owns 7,017 shares of the healthcare product maker’s stock valued at $343,000 after purchasing an additional 37 shares during the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

In other Abbott Laboratories news, insider Sharon J. Bracken sold 2,188 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $56.12, for a total transaction of $122,790.56. Following the transaction, the insider now directly owns 25,618 shares in the company, valued at approximately $1,437,682.16. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jaime Contreras sold 52,700 shares of Abbott Laboratories stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $51.97, for a total value of $2,738,819.00. Following the sale, the insider now owns 58,739 shares in the company, valued at $3,052,665.83. The disclosure for this sale can be found here. Over the last quarter, insiders sold 311,127 shares of company stock worth $16,958,579. 0.76% of the stock is owned by company insiders.

ABT has been the topic of several research reports. Zacks Investment Research upgraded 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 note on Tuesday, October 31st. Royal Bank Of Canada restated a “buy” rating and issued a $55.00 price target on shares of Abbott Laboratories in a research note on Tuesday, October 3rd. Jefferies Group restated a “buy” rating and issued a $65.00 price target on shares of Abbott Laboratories in a research note on Thursday, October 19th. Bank of America reaffirmed a “buy” rating and set a $60.00 price objective (up previously from $56.00) on shares of Abbott Laboratories in a research report on Wednesday, October 4th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Abbott Laboratories in a research report on Thursday, October 19th. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $56.81.

Shares of Abbott Laboratories (NYSE:ABT) opened at $54.79 on Wednesday. The firm has a market cap of $95,228.27, a P/E ratio of 22.70, a price-to-earnings-growth ratio of 2.05 and a beta of 1.06. The company has a current ratio of 2.69, a quick ratio of 2.26 and a debt-to-equity ratio of 0.72. Abbott Laboratories has a 52-week low of $37.42 and a 52-week high of $56.69.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 18th. The healthcare product maker reported $0.66 EPS 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 the consensus estimate of $6.72 billion. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The company’s quarterly revenue was up 28.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.59 EPS. equities research analysts forecast that Abbott Laboratories will post 2.49 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Friday, October 13th were issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date was Thursday, October 12th. Abbott Laboratories’s dividend payout ratio is currently 83.47%.

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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.

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

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