Mitsubishi UFJ Trust & Banking Corp Has $164.78 Million Stake in Abbott Laboratories (ABT)
Mitsubishi UFJ Trust & Banking Corp raised its stake in Abbott Laboratories (NYSE:ABT) by 19.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,710,387 shares of the healthcare product maker’s stock after buying an additional 604,021 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Abbott Laboratories were worth $164,778,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Cypress Capital Management LLC WY raised its position in Abbott Laboratories by 37.9% in the first quarter. Cypress Capital Management LLC WY now owns 2,531 shares of the healthcare product maker’s stock worth $112,000 after buying an additional 696 shares during the last quarter. Feltz Wealth PLAN Inc. purchased a new position in Abbott Laboratories during the first quarter worth about $112,000. First Command Financial Services Inc. raised its position in Abbott Laboratories by 10.2% in the first quarter. First Command Financial Services Inc. now owns 2,787 shares of the healthcare product maker’s stock worth $124,000 after buying an additional 257 shares during the last quarter. Atwood & Palmer Inc. raised its position in Abbott Laboratories by 157.5% in the first quarter. Atwood & Palmer Inc. now owns 3,270 shares of the healthcare product maker’s stock worth $145,000 after buying an additional 2,000 shares during the last quarter. Finally, Independent Portfolio Consultants Inc. raised its position in Abbott Laboratories by 9.3% in the first quarter. Independent Portfolio Consultants Inc. now owns 3,420 shares of the healthcare product maker’s stock worth $152,000 after buying an additional 292 shares during the last quarter. Institutional investors own 71.64% of the company’s stock.
Abbott Laboratories (NYSE ABT) traded up 0.5098% during trading on Friday, hitting $51.1997. 1,549,991 shares of the stock were exchanged. The stock has a market capitalization of $88.96 billion, a price-to-earnings ratio of 71.7083 and a beta of 1.07. The firm has a 50-day moving average of $49.47 and a 200-day moving average of $46.42. Abbott Laboratories has a 52 week low of $37.38 and a 52 week high of $51.23.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Thursday, July 20th. The healthcare product maker reported $0.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. Abbott Laboratories had a net margin of 4.96% and a return on equity of 14.43%. The firm had revenue of $6.64 billion for the quarter, compared to the consensus estimate of $6.63 billion. During the same period in the previous year, the company earned $0.55 earnings per share. The company’s quarterly revenue was up 24.5% on a year-over-year basis. 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 Tuesday, August 15th. Shareholders of record on Friday, July 14th were issued a $0.265 dividend. The ex-dividend date of this dividend was Wednesday, July 12th. This represents a $1.06 annualized dividend and a dividend yield of 2.08%. Abbott Laboratories’s dividend payout ratio is currently 149.30%.
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ABT has been the topic of a number of research analyst reports. Jefferies Group LLC reiterated a “buy” rating and issued a $58.00 target price on shares of Abbott Laboratories in a research note on Thursday, August 3rd. Cowen and Company reiterated a “buy” rating and issued a $55.00 target price on shares of Abbott Laboratories in a research note on Thursday, August 17th. TheStreet upgraded shares of Abbott Laboratories from a “c+” rating to a “b” rating in a research note on Monday, July 3rd. Zacks Investment Research lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, May 31st. Finally, Stifel Nicolaus raised their target price on shares of Abbott Laboratories from $49.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, May 31st. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $52.14.
In related news, insider Jared Watkin sold 552 shares of the company’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $47.97, for a total value of $26,479.44. Following the transaction, the insider now directly owns 47,090 shares in the company, valued at $2,258,907.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stephen R. Fussell sold 196,550 shares of the company’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $46.00, for a total transaction of $9,041,300.00. Following the completion of the transaction, the insider now owns 221,488 shares in the company, valued at $10,188,448. The disclosure for this sale can be found here. Over the last quarter, insiders sold 415,252 shares of company stock worth $19,878,958. Corporate insiders own 0.76% of the company’s stock.
About Abbott Laboratories
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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