Swiss National Bank boosted its holdings in Abbott Laboratories (NYSE:ABT) by 3.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,738,388 shares of the healthcare product maker’s stock after acquiring an additional 209,600 shares during the quarter. Swiss National Bank owned 0.39% of Abbott Laboratories worth $327,553,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of ABT. Wellington Shields Capital Management LLC increased its position in shares of Abbott Laboratories by 2.0% during the 1st quarter. Wellington Shields Capital Management LLC now owns 30,918 shares of the healthcare product maker’s stock valued at $1,373,000 after purchasing an additional 600 shares during the period. Horan Capital Advisors LLC. boosted its stake in shares of Abbott Laboratories by 6.5% during the 1st quarter. Horan Capital Advisors LLC. now owns 49,802 shares of the healthcare product maker’s stock worth $2,212,000 after acquiring an additional 3,050 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Abbott Laboratories by 11.0% during the 1st quarter. Bank of New York Mellon Corp now owns 33,796,869 shares of the healthcare product maker’s stock worth $1,500,920,000 after acquiring an additional 3,344,508 shares in the last quarter. Suntrust Banks Inc. boosted its stake in shares of Abbott Laboratories by 3.1% during the 1st quarter. Suntrust Banks Inc. now owns 798,945 shares of the healthcare product maker’s stock worth $35,480,000 after acquiring an additional 24,090 shares in the last quarter. Finally, Baltimore Capital Management Inc. bought a new stake in shares of Abbott Laboratories during the 1st quarter worth $256,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.
Abbott Laboratories (NYSE ABT) traded down $0.13 during trading on Wednesday, hitting $54.66. The stock had a trading volume of 7,828,595 shares, compared to its average volume of 6,609,666. Abbott Laboratories has a twelve month low of $37.42 and a twelve month high of $56.69. The company has a market capitalization of $95,228.27, a price-to-earnings ratio of 22.70, a PEG ratio of 2.05 and a beta of 1.06. 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 company also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Friday, October 13th were given a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend was Thursday, October 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 83.47%.
In related news, insider Daniel Gesua Sive Salvadori sold 62,460 shares of the company’s stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $52.95, for a total value of $3,307,257.00. Following the completion of the sale, the insider now owns 113,426 shares in the company, valued at approximately $6,005,906.70. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Sharon J. Bracken sold 2,188 shares of the company’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $56.12, for a total transaction of $122,790.56. Following the completion of the sale, the insider now owns 25,618 shares of the company’s stock, valued at approximately $1,437,682.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 311,127 shares of company stock worth $16,958,579. 0.76% of the stock is owned by company insiders.
Several equities research analysts have recently weighed in on ABT shares. Zacks Investment Research raised Abbott Laboratories from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research note on Tuesday, October 31st. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $55.00 target price on shares of Abbott Laboratories in a research report on Tuesday, October 3rd. Jefferies Group reaffirmed a “buy” rating and issued a $65.00 target price on shares of Abbott Laboratories in a research report on Thursday, October 19th. Bank of America reissued 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 reissued 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’s stock. The company has a consensus rating of “Buy” and an average price target of $56.81.
Abbott Laboratories 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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