Abbott Laboratories (ABT) Position Lessened by Robeco Institutional Asset Management B.V.
Robeco Institutional Asset Management B.V. lessened its holdings in Abbott Laboratories (NYSE:ABT) by 43.7% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 105,195 shares of the healthcare product maker’s stock after selling 81,582 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Abbott Laboratories were worth $5,112,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the stock. Family Firm Inc. purchased a new stake in shares of Abbott Laboratories in the second quarter worth $223,000. Canandaigua National Bank & Trust Co. raised its position in shares of Abbott Laboratories by 3.6% in the second quarter. Canandaigua National Bank & Trust Co. now owns 36,501 shares of the healthcare product maker’s stock worth $1,774,000 after buying an additional 1,254 shares in the last quarter. Intrust Bank NA raised its position in shares of Abbott Laboratories by 4.7% in the second quarter. Intrust Bank NA now owns 22,729 shares of the healthcare product maker’s stock worth $1,105,000 after buying an additional 1,030 shares in the last quarter. Prudential Financial Inc. raised its position in shares of Abbott Laboratories by 4.8% in the second quarter. Prudential Financial Inc. now owns 6,007,579 shares of the healthcare product maker’s stock worth $292,029,000 after buying an additional 275,230 shares in the last quarter. Finally, GHP Investment Advisors Inc. raised its position in shares of Abbott Laboratories by 7.8% in the second quarter. GHP Investment Advisors Inc. now owns 20,472 shares of the healthcare product maker’s stock worth $995,000 after buying an additional 1,478 shares in the last quarter. Institutional investors own 70.64% of the company’s stock.
In other Abbott Laboratories news, insider Jaime Contreras sold 52,700 shares of the firm’s stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $51.97, for a total value of $2,738,819.00. Following the completion of the sale, the insider now directly owns 58,739 shares in the company, valued at $3,052,665.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 142,082 shares of the company’s stock, valued at $7,986,429.22. The disclosure for this sale can be found here. Insiders sold 408,313 shares of company stock worth $21,205,356 over the last three months. 0.76% of the stock is owned by insiders.
A number of research analysts recently commented on ABT shares. Cowen and Company reissued a “buy” rating and issued a $55.00 target price on shares of Abbott Laboratories in a research note on Thursday, August 17th. Stifel Nicolaus reissued a “buy” rating and issued a $58.00 target price on shares of Abbott Laboratories in a research note on Friday, July 21st. BidaskClub cut Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. BMO Capital Markets reissued a “market perform” rating on shares of Abbott Laboratories in a research note on Thursday, October 19th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $58.00 target price on shares of Abbott Laboratories in a research note on Thursday, August 3rd. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $56.81.
Shares of Abbott Laboratories (NYSE:ABT) opened at $54.80 on Monday. 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 stock has a market capitalization of $95,384.93, a PE ratio of 22.74, a P/E/G ratio of 2.05 and a beta of 1.06. Abbott Laboratories has a 12 month low of $37.38 and a 12 month high of $56.69.
Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The company had revenue of $6.83 billion for 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%. Abbott Laboratories’s quarterly revenue was up 28.8% on a year-over-year basis. During the same period last year, the firm earned $0.59 earnings per share. analysts predict that Abbott Laboratories will post 2.5 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be paid a $0.265 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.06 annualized dividend and a dividend yield of 1.93%. Abbott Laboratories’s payout ratio is presently 83.47%.
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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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