Abbott Laboratories (ABT) Stake Held by Tekla Capital Management LLC
Tekla Capital Management LLC held its stake in shares of Abbott Laboratories (NYSE:ABT) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,152,520 shares of the healthcare product maker’s stock at the end of the 2nd quarter. Abbott Laboratories makes up approximately 2.1% of Tekla Capital Management LLC’s investment portfolio, making the stock its 14th largest holding. Tekla Capital Management LLC owned about 0.07% of Abbott Laboratories worth $56,024,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of ABT. Villere ST Denis J & Co. LLC raised its holdings in shares of Abbott Laboratories by 2.3% in the 2nd quarter. Villere ST Denis J & Co. LLC now owns 268,200 shares of the healthcare product maker’s stock valued at $13,037,000 after purchasing an additional 5,950 shares during the period. Private Bank & Trust Co. raised its holdings in shares of Abbott Laboratories by 12.3% in the 2nd quarter. Private Bank & Trust Co. now owns 30,322 shares of the healthcare product maker’s stock valued at $1,473,000 after purchasing an additional 3,330 shares during the period. Gratus Capital LLC raised its holdings in shares of Abbott Laboratories by 0.9% in the 2nd quarter. Gratus Capital LLC now owns 205,067 shares of the healthcare product maker’s stock valued at $9,968,000 after purchasing an additional 1,869 shares during the period. Comerica Securities Inc. bought a new stake in shares of Abbott Laboratories in the 1st quarter valued at about $2,833,000. Finally, AQR Capital Management LLC raised its holdings in shares of Abbott Laboratories by 264.8% in the 1st quarter. AQR Capital Management LLC now owns 634,391 shares of the healthcare product maker’s stock valued at $28,173,000 after purchasing an additional 460,477 shares during the period. 71.01% of the stock is currently owned by hedge funds and other institutional investors.
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 shares were 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 in the company, valued at approximately $3,052,665.83. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Sharon J. Bracken sold 2,188 shares of the stock in a transaction that occurred 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 owns 25,618 shares in the company, valued at approximately $1,437,682.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 588,013 shares of company stock worth $32,023,946. Company insiders own 0.76% of the company’s stock.
A number of equities research analysts have recently issued reports on ABT shares. Zacks Investment Research cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. J P Morgan Chase & Co began coverage on shares of Abbott Laboratories in a report on Friday, October 6th. They issued a “neutral” rating and a $60.00 price target on the stock. Royal Bank Of Canada reissued a “buy” rating and issued a $55.00 price target on shares of Abbott Laboratories in a report on Tuesday, October 3rd. Cowen set a $68.00 price target on shares of Abbott Laboratories and gave the company a “buy” rating in a report on Thursday, October 19th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $53.00 price target on shares of Abbott Laboratories in a report on Friday, September 1st. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Abbott Laboratories currently has an average rating of “Buy” and an average price target of $56.81.
Abbott Laboratories (NYSE ABT) opened at $54.64 on Friday. Abbott Laboratories has a fifty-two week low of $37.90 and a fifty-two week high of $56.69. The firm has a market cap of $95,106.44, a PE 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 (NYSE:ABT) last announced its earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.01. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The firm had revenue of $6.83 billion for the quarter, compared to analyst estimates of $6.72 billion. During the same quarter in the prior year, the business posted $0.59 EPS. The business’s revenue was up 28.8% compared to the same quarter last year. equities research analysts anticipate that Abbott Laboratories will post 2.49 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th were given a dividend of $0.265 per share. The ex-dividend date was Thursday, October 12th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.94%. Abbott Laboratories’s payout ratio is presently 83.47%.
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.
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