Abbott Laboratories (ABT) Holdings Lessened by Migdal Insurance & Financial Holdings Ltd.
Migdal Insurance & Financial Holdings Ltd. reduced its holdings in Abbott Laboratories (NYSE:ABT) by 22.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,787 shares of the healthcare product maker’s stock after selling 2,872 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Abbott Laboratories were worth $477,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Abbott Laboratories by 2.6% during the second quarter. Vanguard Group Inc. now owns 129,786,955 shares of the healthcare product maker’s stock worth $6,308,944,000 after buying an additional 3,241,063 shares in the last quarter. State Street Corp grew its holdings in shares of Abbott Laboratories by 18.9% during the first quarter. State Street Corp now owns 80,499,469 shares of the healthcare product maker’s stock worth $3,574,987,000 after buying an additional 12,806,535 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of Abbott Laboratories by 45.7% during the second quarter. Capital Research Global Investors now owns 47,589,663 shares of the healthcare product maker’s stock worth $2,313,334,000 after buying an additional 14,918,038 shares in the last quarter. Northern Trust Corp grew its stake in Abbott Laboratories by 3.1% in the second quarter. Northern Trust Corp now owns 26,865,706 shares of the healthcare product maker’s stock valued at $1,305,942,000 after purchasing an additional 809,732 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Abbott Laboratories by 28.6% in the second quarter. Dimensional Fund Advisors LP now owns 11,722,088 shares of the healthcare product maker’s stock valued at $569,830,000 after purchasing an additional 2,606,404 shares in the last quarter. Institutional investors own 71.32% of the company’s stock.
A number of research analysts have weighed in on ABT shares. ValuEngine downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Stifel Nicolaus raised their price target on Abbott Laboratories from $58.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, October 19th. BMO Capital Markets restated a “hold” rating and issued a $53.00 price target on shares of Abbott Laboratories in a research note on Friday, September 1st. Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a research note on Tuesday, October 31st. Finally, Cowen restated a “buy” rating and issued a $55.00 price target on shares of Abbott Laboratories in a research note on Thursday, August 17th. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $56.81.
In related news, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of the business’s stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $56.21, for a total transaction of $5,430,054.63. Following the sale, the executive vice president now owns 142,082 shares in the company, valued at approximately $7,986,429.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Miles D. White sold 276,886 shares of the business’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $54.41, for a total value of $15,065,367.26. Following the sale, the chairman now owns 3,677,913 shares in the company, valued at approximately $200,115,246.33. The disclosure for this sale can be found here. Insiders sold a total of 588,013 shares of company stock valued at $32,023,946 over the last ninety days. Insiders own 0.76% of the company’s stock.
Abbott Laboratories (NYSE:ABT) opened at $54.94 on Tuesday. The firm has a market capitalization of $95,106.44, a price-to-earnings ratio of 22.67, a price-to-earnings-growth 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. Abbott Laboratories has a fifty-two week low of $37.90 and a fifty-two 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 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The firm had revenue of $6.83 billion during the quarter, compared to analysts’ expectations of $6.72 billion. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. The company’s quarterly revenue was up 28.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.59 EPS. equities research analysts anticipate that Abbott Laboratories will post 2.49 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th were issued a $0.265 dividend. The ex-dividend date of this dividend was Thursday, October 12th. This represents a $1.06 annualized dividend and a yield of 1.93%. Abbott Laboratories’s dividend payout ratio is presently 83.47%.
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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