Abbott Laboratories (ABT) Shares Bought by Flossbach Von Storch AG
Flossbach Von Storch AG grew its holdings in Abbott Laboratories (NYSE:ABT) by 0.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,774,180 shares of the healthcare product maker’s stock after purchasing an additional 29,250 shares during the quarter. Abbott Laboratories accounts for about 7.6% of Flossbach Von Storch AG’s holdings, making the stock its 2nd biggest holding. Flossbach Von Storch AG owned about 0.79% of Abbott Laboratories worth $669,563,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Harbour Capital Advisors LLC raised its stake in shares of Abbott Laboratories by 4,315.9% in the second quarter. Harbour Capital Advisors LLC now owns 91,144 shares of the healthcare product maker’s stock valued at $1,875,000 after acquiring an additional 89,080 shares in the last quarter. First Merchants Corp grew its stake in Abbott Laboratories by 67.3% during the 2nd quarter. First Merchants Corp now owns 66,082 shares of the healthcare product maker’s stock worth $3,212,000 after purchasing an additional 26,574 shares in the last quarter. IBM Retirement Fund grew its stake in Abbott Laboratories by 71.1% during the 2nd quarter. IBM Retirement Fund now owns 41,404 shares of the healthcare product maker’s stock worth $2,249,000 after purchasing an additional 17,200 shares in the last quarter. NGAM Advisors L.P. grew its stake in Abbott Laboratories by 5.3% during the 2nd quarter. NGAM Advisors L.P. now owns 455,486 shares of the healthcare product maker’s stock worth $22,141,000 after purchasing an additional 22,948 shares in the last quarter. Finally, Sumitomo Life Insurance Co. grew its stake in Abbott Laboratories by 92.0% during the 2nd quarter. Sumitomo Life Insurance Co. now owns 80,916 shares of the healthcare product maker’s stock worth $3,933,000 after purchasing an additional 38,775 shares in the last quarter. 71.50% of the stock is owned by institutional investors and hedge funds.
In other Abbott Laboratories news, insider Jaime Contreras sold 52,700 shares of the 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 owns 58,739 shares of the company’s stock, valued at approximately $3,052,665.83. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Daniel Gesua Sive Salvadori sold 62,460 shares of the stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $52.95, for a total value of $3,307,257.00. Following the transaction, the insider now directly owns 113,426 shares in the company, valued at approximately $6,005,906.70. The disclosure for this sale can be found here. Insiders sold 333,310 shares of company stock valued at $16,857,255 over the last quarter. Insiders own 0.76% of the company’s stock.
ABT has been the subject of several recent research reports. Zacks Investment Research cut Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Wells Fargo & Company reissued an “outperform” rating and set a $54.00 price objective (up from $47.50) on shares of Abbott Laboratories in a research report on Friday, June 30th. TheStreet upgraded shares of Abbott Laboratories from a “c+” rating to a “b” rating in a research note on Monday, July 3rd. Barclays PLC restated an “overweight” rating and set a $57.00 target price (up from $52.00) on shares of Abbott Laboratories in a research note on Saturday, July 22nd. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $48.00 target price on shares of Abbott Laboratories in a report on Tuesday, July 11th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $54.00.
Abbott Laboratories (NYSE ABT) opened at 53.75 on Wednesday. The firm has a 50-day moving average of $51.24 and a 200 day moving average of $47.59. The firm has a market cap of $93.39 billion, a P/E ratio of 75.28 and a beta of 1.06. Abbott Laboratories has a 1-year low of $37.38 and a 1-year high of $54.80.
Abbott Laboratories (NYSE:ABT) last issued its earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. Abbott Laboratories had a net margin of 4.96% and a return on equity of 14.43%. The business had revenue of $6.64 billion for the quarter, compared to analyst estimates of $6.63 billion. During the same quarter in the prior year, the business posted $0.55 EPS. The company’s revenue for the quarter was up 24.5% on a year-over-year basis. On average, analysts predict that Abbott Laboratories will post $2.49 EPS for the current year.
The company also recently declared 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 is Thursday, October 12th. This represents a $1.06 dividend on an annualized basis and a yield of 1.97%. Abbott Laboratories’s dividend payout ratio (DPR) is 149.30%.
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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